so I’ve had the lease for a month and got this in the mail. My FICO is 800+ so I don’t think i should have any financing issues…
Honda Clarity Plugin
DAS $1000 (before $1500 CA State rebate)
$305 a month
Need recommendation on next steps.
So call and talk to them. If, in the end, they want to unwind the deal, let them. You got a free month out of the deal.
1 Like
How good of a deal was it?
Honda Clarity Plugin
DAS $1000 (before $1500 CA State rebate)
$305 a month
It was a good deal based on the research that I did.
Most of the time it’s due to financing issues. They don’t just cancel because your deal was too good
1 Like
Call the dealer and talk to them. I assure you they don’t want this to happen, either. They’re in the business of selling cars and having to unwind one is counter to the mission.
If they have no other options for you, you’ll have to return the car.
1 Like
Reading a previous thread - it seems the first step may be reaching out to Honda Finacial Services and confirming that you have an account and that they have funded the deal and are the owners of record. If that’s the case, then you should let them know about the letter you received from the dealership and get their feedback. Ask them to reach out to the finance manager you dealt with.
And then call dealer and let them know you confirmed account with HFS and see what they say. It might just be an honest mistake.
As an aside, have you already applied for the CVRP? There may be implications there that you want to consider before doing anything (such as whether you have to return it and whether that will count against your limit for CVRP credits).
Did the dealer reach out to you prior to this letter? I feel like something is missing here. @mobajwa
@joeblogs nope. No calls/voicemails from the dealer. I am yet to call them back as I wanted to research my options first.
Any updates on this?
Just out of curiosity, when you signed, did you sign a Honda Financial lease agreement?
I have a '17 Accord coupe lease. My dealership told me at time of signing that I was approved with Honda Financial. I think I got welcome e-mails from HF a day or so later.
I’m just wondering whether they didn’t go through HF and tried to finance it elsewhere and couldn’t (though I’m not sure why they would do that).
Happened to me, Honda Clarity electric. They wanted to rescind a month after I got the car because there was an honest mistake on the lease document (but I did not know at the time I got the letter). They had tried to reach me but I was traveling at the time and they couldn’t get a hold of me, so they sent me a notice to rescind.
Turns out there’s a grace period for the dealership to rescind, but the grace period had ended by the time they sent the letter, so if I wanted to I could keep the car as long as I continue to make the payment. Spoke to an attorney, the attorney told me that I need to have proof that I make the monthly payments (certified mail might not even be enough, something like filming myself dropping the payment at the dealership).
Decided that it was too much trouble, went to the dealership and was ready to turn in the car, turned out that I just had to sign the correct lease agreement (no change to the terms or the payment), so that’s what I did and ended up keeping the car.
Maybe it is a mistake and they just need you to sign the correct document, you should ask. Otherwise, it’ll going to be a lot of trouble keeping the car.
How about the payment credit on your statement? Sounds like an awful lawyer to me. How would you even explain that as normal behavior? “Yes your honor, I take films of myself whenever I pay a bill. No your honor, I have never heard of the internet.”
1 Like
@gshocksv @RobC2 @tomfoolery How/where would the payments be sent to if there is no contract/account with HFS?
1 Like
What a bizarre provision. No way I would agree to that in the future. I will have to read those documents more closely. My mortgage lender tried to pull similar crap with a “you agree to let us correct any provision” and I shot them down. It is their job to get the contract right and not your fault if they screw up.
The dealer could not assign the lease, so even though the lease contract is on a HFS contract, it’s not in the Honda system, so essentially the dealer owns the lease contract. I called HFS several times to complain about this and they said there wasn’t anything they could do.
Maybe you should think before you respond. The lease could not be assigned, so that means the dealer owns the lease, and dealers normally do not have an online payment system, so yes you can only mail it in. And if the dealer wants to play dirty they can say that they never got the payment, hence filming yourself dropping off the payment.
Dealers do not own any lease contracts. If the deal does not get funded, fhe contract is not valid and the car still belongs to the dealer.
2 Likes
You’ll never buy a car again then. This happens all the time. If the dealer makes a mistake and the captive doesn’t fund the contract, there are 2 options…return the car or sign the correct paperwork. Mistakes happen. That’s part of life. This could happen at any captive bank. There is no such thing as an Instant contract when you leave the dealership. It could happen over something silly as missing a signature, initials, etc…
3 Likes
Can you imagine that? Going through life refusing to sign contracts that have a clause to allow for human-error?
2 Likes
Use this to your advantage to get another vehicle. Plus you did get a free month out of it!
1 Like