This post is my attempt at getting some help, I am new to the country (USA) and have literally no one to turn to help. Any inputs on how I can do damage control is appreciated.
This is my first ever car, I negotiated 35k out the door. Decided to convert this into a lease that I later plan on buying out when i have saved sufficient money. My buy off price today, on Honda financial website is ~37000 USD. Something does not seem right.
I got a brand new Honda civic 2025 sport touring trim(Highest trim) 3 weeks ago. I put 3000 down and 500usd was a new grad rebate. I negotiated a “out the door” price of 35043usd with the dealer. Emphasis on the out the door, because this would include the license and registration, doc fee (oth charges) and taxes. Now that I am reviewing the document, I notice that the dealer had added the fees on top of the 35043. Can anyone please explain if what I think is true?
[the difference in 36277 and 35043.50 in item 7A is the leasing fee and honda care that i purchased)
I certainly have learnt my lesson on to never sign something i don’t understand. If i what I think is true, is it possible for me to go back and speak with the dealer to see if they would correct their mistake? (i’m assuming no)
You cannot convert a financed OTD price directly into a lease price. The closest you can do is keep the same sales price. What was the MSRP and sales price you got to get the $35k OTD price?
Your lease contract has a sales price of $35043, so doesn’t seem like they keep the same number from your purchase deal.
The paper that i signed before walking into the finance guy room had a sales price of ~31500 and out the door price of ~35300. I unfortunately did not take a photo of any of the documents that they produced me initially.
Post the second sheet too for more clarification to see how cap was built.
PS, nothing stops you from going back in and asking questions…maybe they give you some goodwill if you threaten (professionally) bad survey or review…but this really is all on you since you signed it.
Sorry this happened to you. I know you can find advice out there that says to do what you did (negotiate a cash OTD price first before discussing financing), but now as you’ve seen that allows the dealer more opportunities to charge you much more than you thought they were going to. I prefer to advise the dealer on initial contact that I will be leasing and it’s never gotten in the way of getting a fair deal.
At this point your options are to cancel HondaCare to get that money back and do an immediate buyout if you can find a lower interest rate than the 6.86% you’re being charged on this lease.
Ok. Yeah you paid 2K over sticker. The other fee for 649 on first sheet must be dealer doc fee. Like machine said and because a Honda look for a lower interest rate loan and buy it out. Look into cancelling the Honda care to stick it to dealer a bit also.
In the future don’t do this. There are exceptions but in your situation the best finance (loan) APR and purchase/financing rebate would have been the solution for a monthly payment instead of leasing to buy it.
Yeah cancel that HondaCare. A few oil changes at Jiffy Lube aren’t going to cost $639. That plus an immediate buyout will wreck the dealer’s back end gross. Nothing you can do now about how they wrecked you on the front end.
If I was you, they will be hearing from me on anything reviewable( yelp, BBB, google). I would also contact Honda about this dealer and last but not least… the DMV.
Send in the report to the DMV explaining exactly what happened to you with the dealer ID, salesperson license(should be on your sale contract).
Not sure where you located but in California, dmv take this very seriously
With different incentives, programs, taxes, fees, etc, what you basically did was start over from scratch. A purchase OTD price does not directly translate to a lease.
And why would the DMV be interested in any of those things? I’m not arguing that some state entity or federal would be interested in those things, but I don’t think it would be the DMV.
They do care about customer being overcharged after already agree on a different price.
I used to work at a dealership and the one time that I see everyone face turn blue is when they get investigated by DMV.
I’m sure they would love to look into this BS (if it’s in California)
Just submit the investigation request if anything. I did send it in once for a small thing (dealer never submit purchase paper and I didn’t get a plate on time) and the dealer who didn’t return my phone call for weeks; after that, they literally call me the next day, apologized and overnight my plate for free.
Lmao yea but still send in the request, this dealer sounds shady af and I’m sure this isn’t their first rodeo. A lot of time, investigators are just unmotivated until they get requests.
