Got a Audi Q5 last August through Honcker. It couldn’t of been an easier experience. 36 month lease with 10k per month at $364 (Los Angeles taxes included) and $1724 due at signing.
Multiple credit checks for a car loan in a short space of time is viewed as one pull. It’s not a problem.
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Yeah viewed as 1 pull by other lenders but it still lowers your score for roughly 6 months to a year. I’d try and get honcker to remove the hard pull. Don’t let them tell you they can’t becuase they most certainly can.
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I don’t see how Honcker will be successful with experiences like this…
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That’s a frustrating experience… I agree that Honcker has to be more strict with the dealers that list cars through them, and find ways to keep dealers from backing out of the deal after you’ve clicked the “lease now” button. I had a good experience with the app, and the dealer that sold the car was great to work with as well, and said they sell/lease a lot of vehicles through Honcker. If the dealer lists a vehicle and price, they need to honor it, and should be “cancelled” by Honcker if they don’t.
I think in this specific case, it was probably a singular sales manager that signed the dealer up to work with Honcker and then later the rest of the management cadre decided against it.
Is this a plausible scenario?
This app will never work if this continues to happen.
In lending – the lender and borrower agree on loan then sign the loan agreement – the last step is the hard pull.
Its a pretty big deal that they reneged after a hard pull. Honcker already do a soft-pull
Thanks for writing this.
Honcker isn’t available in my area, but it’s good for them to know that if things go wrong, people let other people know about it. I agree there needs to be some type of serious cost if a dealership backs out. I would encourage @audia4 to leave poor reviews on dealerrater and google regarding the dealership that wouldn’t honor their price.
Perhaps the dealership is part of a larger chain or group? I think it might be more plausible that the mothership signed up for Honcker and it wasn’t properly relayed to the sister dealerships? Especially since the car in question was so far away from the OP.
Wouldn’t they still require the input of the dealership management to establish the deals offered on the app?
You would think so. It’s possible that there was some kind of miscommunication I guess.
I do think Honckers customer support is severely lacking. How can you let this happen and then say oh well bye
Probably the same way Carvana ran into a VIN issue with a car I tried to sell them and after not being able to move forward because of a weird technicality, they just say “k, bye, can’t do it.”
If they didn’t want to buy, they don’t have to, I get it. Just seemed weird the turn the customer service took at the point that they perceived it to be too difficult to handle.
My son has leased two cars through Honcker, both without issue (Honda & Chevy).
I’d guess they do charge dealers a fee but some look at it as a lead generation service and don’t view the agreed upon prices as firm. Honckee doesn’t yet have the leverage to contract that the dealer must sell at the agreed upon price or else they pay some sort of damages. I can see why dealers are afraid of this and similar apps. These apps, if they succeed, will set a price ceiling and cost dealers the x% of deals from clueless people who pay 2%+ of MSRP as a monthly payment. Dealers survive on these fat deals. Someone at the dealership probably decided they could do better than the Honckr deal and may have realized the danger of the app for their business.
Without franchise laws, we would all buy cars this way. Ford would either sell direct to us or a company like Amazon would but 10k F-150s and sell them online for a fixed price.
these franchise laws got to go
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Well, it’s not like there are consumer advocacy groups pumping enough money into lobbies to push for the changes…
Sorry to hear about your issues.
I leased 2 cars from Honker earlier this year and couldn’t have had a better experience. Once car was $70 less per month than my regular lease broker could get. He even asked me if it was legit.
Both cars were exactly the price they said in the app, and were sitting in my driveway with 36 hours of clicking the lease button.
If a broker can’t beat Honcker they should be ashamed
Worth a check for anyone looking for a 2018 Audi A4 P+ at 23% off MSRP