[bbal]

I made arrangements and put down a deposit for a 2011 touring elite that was supposed to be built beginning of September and arriving mid September. It has arrived (and they're being nice enough to drive it to my house 2 hours away), but they are having an issue with the 0.9% financing that we "locked in" for the 2011 since it is a 2012 model. The dealer is checking to see if Honda will still honor the deal. Anyone know how flexible Honda is on these financing deadlines and specifics? Would it be worth putting up a fight?

 

[tricel]

They use several agencies besides Honda's financing. We just got our 2012 and left with 2.09% apr. We first went in with a AAA quote of 2.35 %, which we pre-qualified for, and they searched for a better rate. I have to say we have excellent credit and that makes a huge difference. First they countered with 2.25%, but my Hubby is relentless and got them down to 2.09%. I believe it is with Fifth Third Bank.

Good luck

 

[jasonorrishonda]

They will not be flexible at all since the 0.9% financing was only available on 2011 Odyssey's and the dealer knew/should of known that it wasn't available on the '12s. Plus, in the bulletin they put in bold and all cap letters: *** Delivery from dealer stock only. If vehicle not in dealer stock, offer not valid. NO EXCEPTIONS.***

 

[jasonorrishonda]

If you want to put up a fight about it, you could try and have the dealer buy down the rate but they may be reluctant to do that depending on how much it will cost them to get to 0.9%

 

[dusty179]

What happened to "The Honda Promise?"

 

[cebu 888]

* read the fine print always. The asterisks is always the deal breaker.

 

[banswee]

I made arrangements and put down a deposit for a 2011 touring elite that was supposed to be built beginning of September and arriving mid September. It has arrived (and they're being nice enough to drive it to my house 2 hours away), but they are having an issue with the 0.9% financing that we "locked in" for the 2011 since it is a 2012 model. The dealer is checking to see if Honda will still honor the deal. Anyone know how flexible Honda is on these financing deadlines and specifics? Would it be worth putting up a fight?

fight for 0.9%--its like free money. some here says 2.25 or lower that's still would be high (interest) for a $40K plus financing. however, if the agreement says its NOT-- then you have you choice even if they gave their promise,,, errrrr lie I should say..

 

[banswee]

fight for 0.9%--its like free money. some here says 2.25 or lower that's still would be high (interest) for a $40K plus financing. however, if the agreement says its NOT-- then you have you choice even if they gave their promise,,, errrrr lie I should say..

you can try to list here your price, we'll try to compute and see for yourself the difference of a 0.9 vs 2.9% (whatever)

 

[psu ody fan]

They will not be flexible at all since the 0.9% financing was only available on 2011 Odyssey's and the dealer knew/should of known that it wasn't available on the '12s. Plus, in the bulletin they put in bold and all cap letters: *** Delivery from dealer stock only. If vehicle not in dealer stock, offer not valid. NO EXCEPTIONS.***

I agree 100%. The dealer absolutely knew that rate didn't apply to the 2012s. It all depends on what type of "locked in" documentation you have related to the financing from the dealer. On a $40K van, the difference between 0.9% and 2.25% equates to around $1400 assuming you finance over 5 years. If they guaranteed (in writing) you a price and a rate, but now they can't deliver on the rate they should lower the cost of the van by $1,400 (assuming you qualify for 2.25%).

All that being said, I would bet the dealer never guaranteed 0.9% on the 2012, so you probably have a bit of an argument pending.

 

[psu ody fan]

I agree 100%. The dealer absolutely knew that rate didn't apply to the 2012s. It all depends on what type of "locked in" documentation you have related to the financing from the dealer. On a $40K van, the difference between 0.9% and 2.25% equates to around $1400 assuming you finance over 5 years. If they guaranteed (in writing) you a price and a rate, but now they can't deliver on the rate they should lower the cost of the van by $1,400 (assuming you qualify for 2.25%).

All that being said, I would bet the dealer never guaranteed 0.9% on the 2012, so you probably have a bit of an argument pending.

I went back and looked at the 0.9% financing info on the 2011s. Looks like that is only good for 36 months. Assuming $40k financed for the full 36 months, the difference is just less than $850 over a 3 year loan.

 

[jasonorrishonda]

I went back and looked at the 0.9% financing info on the 2011s. Looks like that is only good for 36 months. Assuming $40k financed for the full 36 months, the difference is just less than $850 over a 3 year loan.

That's what it is now, but at Labor Day it was 0.9% up to 60 months for the '11s.

 

[jasonorrishonda]

What happened to "The Honda Promise?"

It was not available with the Labor Day special APR. In the bulletin, it said had to be delivered from dealer stock no exceptions. The only way around it would be to do the paperwork and sign the contract ahead of time for an incoming vehicle since we know the VIN once the vehicle is in-transit.

 

[Shazzam]

Why don't you just go to a dealer that has a 2011 model you want and buy it there? That way you can get the 0.9% financing.

 

[Shazzam]

If you want to put up a fight about it, you could try and have the dealer buy down the rate but they may be reluctant to do that depending on how much it will cost them to get to 0.9%

What ever money they use to "buy down" the rate comes out of margin he would have been able to negotiate against in getting the lowest purchase price. The money has to come from somewhere - the manufacturer, the dealer or the customer. If in this case it isn't coming from Honda, it will have to come from the customer. :frown:

 

[bbal]

Well it's all done. The dealer worked it up the ladder with Honda to no avail. They did arrange financing for me at 2%. Got it all done in about an hour this morning while they were on the way delivering it to my house. When they arrived it took all of 15 minutes to drop it off. The whole purchase process took a total of 2 hours. Couldn't be more impressed with Corwin Honda in Jefferson City, MO.