[Thrive92]

Hi everyone. Relatively new to the forum so if this post or the contents that I am sharing is not allowed, I'll remove it immediately.

Just purchased a new honda accord today (2.0T sport), and although I absolutely love the car I cannot help but think I may have been had by the dealership today.

For context, I did not order this car; a customer built and pre ordered it with the all season floor and trunk mats and window tint, and backed out of it at the last moment so I was able to grab it since I was next in line. I did not really care for the accessories and the window tint, but the finance person said there was nothing that can be done about it. Since it was pre ordered with these, I would have to eat the prices and take them. I found that a bit odd seeing as how the tint job didnt even start and the mats were not even shipped to the dealership yet, and I thought that it could just be returned and the charges refunded.

That's not what perplexes me -- its the fact that I had to take in the warranties and protection plans that, as you can see from the photo above, costed more than 7k in total. When I asked if we can just remove them or even shorten its coverage period so that I can lower the price of the total, the finance manager said that in order to get approved for financing by Honda, this absolutely has to be done. Since I have a poor credit score and even a shady credit history, the finance manager told me there is no other recourse than to take it or leave it.

This is the first car I will own and pay for, and so I just accepted it, signed, and drove off. I am not looking to return to argue or negotiate any further with the dealership, but I just want to know if I have been screwed by the dealership, or is this a common practice for Honda financing when someone with poor credit history, score, and utilization tried to finance one of their vehicles?

For reference, all of the prices are in Canadian dollars.

Cheers

 

[VTEC_TURBO_BOOST]

View attachment 542014
Hi everyone. Relatively new to the forum so if this post or the contents that I am sharing is not allowed, I'll remove it immediately.

Just purchased a new honda accord today (2.0T sport), and although I absolutely love the car I cannot help but think I may have been had by the dealership today.

For context, I did not order this car; a customer built and pre ordered it with the all season floor and trunk mats and window tint, and backed out of it at the last moment so I was able to grab it since I was next in line. I did not really care for the accessories and the window tint, but the finance person said there was nothing that can be done about it. Since it was pre ordered with these, I would have to eat the prices and take them. I found that a bit odd seeing as how the tint job didnt even start and the mats were not even shipped to the dealership yet, and I thought that it could just be returned and the charges refunded.

That's not what perplexes me -- its the fact that I had to take in the warranties and protection plans that, as you can see from the photo above, costed more than 7k in total. When I asked if we can just remove them or even shorten its coverage period so that I can lower the price of the total, the finance manager said that in order to get approved for financing by Honda, this absolutely has to be done. Since I have a poor credit score and even a shady credit history, the finance manager told me there is no other recourse than to take it or leave it.

This is the first car I will own and pay for, and so I just accepted it, signed, and drove off. I am not looking to return to argue or negotiate any further with the dealership, but I just want to know if I have been screwed by the dealership, or is this a common practice for Honda financing when someone with poor credit history, score, and utilization tried to finance one of their vehicles?

For reference, all of the prices are in Canadian dollars.

Cheers

With that one...all is can say...yep.

Sent from my SM-G981U using Tapatalk

 

[hadAfew]

The dealer bamboozled you for 7K

 

[Honda2014]

Congrats on the purchase!

The dealer bamboozled you for 7K

Yeah. Sounds about right. I was gonna say about 7.5k. That all season protection package sounds like BS too. I usually just tell them to take it off.

 

[jimpal]

This is just like that wonderfully well done scene in the movie FARGO, where the dealership makes a new car buyer accept (and pay for) his car with undercoating which he didn’t want. It’s a classic, complete with Minnesota accents.

I can only laugh at the situation because a version of it has happened to me as well. It’s done, try to forget about it, and enjoy your new car. You will like it.

 

[14v6]

Yes, but what's done is done, I hope you learn from this. In the future either stick to an out the door price or when you buy you should have a rough idea of what MSRP + Tax + Registration is. Any huge variances, and the deal is off.

Out of curiosity, what was your trade in?

 

[Honda2014]

Yes, but what's done is done, I hope you learn from this. In the future either stick to an out the door price or when you buy you should have a rough idea of what MSRP + Tax + Registration is. Any huge variances, and the deal is off.

Out of curiosity, what was your trade in?

Unless there is a cool off period where you can take back the car within three days or something. Of course, if the OP needs the car now, there’s no point because other dealers will likely be doing something similar.

 

[14v6]

Unless there is a cool off period where you can take back the car within three days or something. Of course, if the OP needs the car now, there’s no point because other dealers will likely be doing something similar.

I know in Canada cars are expensive and they get more content in the trims but 48k for an Accord Sport 2.0t?

 

[Honda2014]

I know in Canada cars are expensive and they get more content in the trims but 48k for an Accord Sport 2.0t?

Right. It’s close to 50k. If you look closely at the contract, that number is after OP has put 3k down.

Also, it could be the norm there, but even that freight charge seems a bit excessive.

 

[highvoltage]

Right. It’s close to 50k. If you look closely at the contract, that number is after OP has put 3k down.

And a $4K trade-in, so over $50K.

 

[14v6]

Totally missed all that. That's why I like to stick with one number and anything out of the ballpark requires an investigation of each line item.

 

[PapaD]

Please run back to the FO and demand cancellation of anything that can be terminated. Extended warranties can be canceled and refund given. You’re going to pay thousands of dollars for items that you don’t need plus interest charges. You will never get out from underneath this car purchase if you don’t get aggressive immediately! Unfortunately you didn’t research into how bad stealerships can work you over. YouTube saved me thousands of dollars by just watching several videos prior to my HAH purchase. The FO is their profit centers and they made a killing off you. Or just sit there and eventually let the car get repo’d, furthering your credit nightmare…but you can do something right now!

 

[namegoeshere]

The dealer bamboozled you for 7K

Scene around the dealership as OP drove off.

 

[2Accordz]

I'm perplexed as to why you didn't go over the sticker, pricing and warranties while you were there...before you signed for everything?
I still don't understand how a buyer sits there, for an hour or more... signs all sorts of legal documents and then goes on a public forum to see if he's "been taken"....
I have to ask because I'm curious...just how old are you?

For the love of Jeebus...does that even make sense to anyone??!

But maybe I'm a different breed of cat....

 

[highvoltage]

Please run back to the FO and demand cancellation of anything that can be terminated. Extended warranties can be canceled and refund given. You’re going to pay thousands of dollars for items that you don’t need plus interest charges. You will never get out from underneath this car purchase if you don’t get aggressive immediately! Unfortunately you didn’t research into how bad stealerships can work you over. YouTube saved me thousands of dollars by just watching several videos prior to my HAH purchase. The FO is their profit centers and they made a killing off you. Or just sit there and eventually let the car get repo’d, furthering your credit nightmare…but you can do something right now!

Truthfully, I think it's too late for that. Don't know how things work in Canada, but in the states, once you sign it's a binding legal document. I think the best he can do is to sell it, maybe at a profit, and try again.

 

[longhornaccord]

In the future, I hope you realize that you can decline all the extra add on's that the dealer does. Since the damage has already been done, just try to forget it and enjoy your wonderful new car.

 

[dk73haley]

That's not what perplexes me -- its the fact that I had to take in the warranties and protection plans that, as you can see from the photo above, costed more than 7k in total. When I asked if we can just remove them or even shorten its coverage period so that I can lower the price of the total, the finance manager said that in order to get approved for financing by Honda, this absolutely has to be done. Since I have a poor credit score and even a shady credit history, the finance manager told me there is no other recourse than to take it or leave it.

You got screwed over.

However, when talking about how they said you "had to take in the warranties and protection plans", I call BS. Dealerships make huge margins on these ambitious aftermarket items -- especially anything they call a "protection package".

Look at it this way. The dealership (allegedly) is stuck with a car they ordered and don't have a buyer for. Every day that it sits on the lot, they are losing money on it. They'll negotiate if you make them.

Never buy from that dealer again. Don't get your vehicle service there. Do tell your friends.

What's done is done; just know you can do better next time.

 

[Honda2014]

On a positive note, at the current USD to CAD exchange rate ~ 1:1.31, the deal is of course not ideal at all, but it's not THAT bad.

Also, just know that it's not a good idea to rush when it comes to buying a car. You don't HAVE to have the car NOW. There's plenty of Accords, it's not a limited edition Ferrari or Porsche. If they don't sell you this one without charging you a ridiculous price, stand up (assuming you were sitting down when you were negotiating), simply walk out and go to another dealer. If it's somewhat similar up there as here in the US, there's plenty of Honda dealers, go to one where they will allow you to order at MSRP without adding on so much crap. If you have to wait a few months, just wait and drive your (I assume) beater until it shows up at the dealership. You'll be happier that way, believe me. Hell, even if your current car is falling apart and have to rent, my bet is the total car rental expense for the next three months will be much cheaper than overpaying thousands.

It's ok. It happens, just know that it will get better if you pay more attention and be firm with your reasonable request/demand next time. Do not give in easily. It will get better.

 

[Thrive92]

Thank you all for confirming what I had suspected.
It doesn't really bother me as much as it should -- I consider it a 7k stupid tax + fee for getting my accord a month early.
Can anyone with a subpar credit score/history from Canada who have financed with Honda directly let me know if they had to go through something similar? Or is this just a full - on dealership bamboozlement.

Out of curiosity, what was your trade in?

It was a 2013 vw jetta with alot of exterior dings and chips. 140,000 km. I was quoted 4900 for it by a different dealership, and had new tires, battery & alternator, transmission fluid done in the past couple of months.

Now that I look back at it, when they came back with the appraisal, I told them I might as well go take it to the other dealership and get 4900, and the FO quickly looked into his monitor and muttered "....lets see what I can do....". My warranty then got changed from 7 years/140,000km to 5years/100,000.

Oh well. Doesn't really bother me as much, as the 2.0 automatic drives way too well for me, and the car shortage here in Canada meant that I was able to reserve a 1.5 accord that was coming next month, which i was hesitant about because of its lackluster engine and CVT. The average wait time for the 2.0 was about 3 - 6 months.

 

[seldomseen]

Can anyone with a subpar credit score/history from Canada who have financed with Honda directly let me know if they had to go through something similar? Or is this just a full - on dealership bamboozlement.

Universally, whenever you have subprime credit score/history. You'll likely get duped with most every sort of financing you get as the finance institution will know you are likely desperate. Having subprime credit history/score with good income will make you an even bigger target. Start working on improving your credit if you already haven't.

What are the finance terms of the car?