6pak Posted September 17, 2008 Share #1 Posted September 17, 2008 :rant:So, Liz and I get up this am, and head for the bike shop and our new ride. I won't give the name, but it's a Honda store in Alcoa Tn, and there's only one in Alcoa Tn. Let me go back a few days. We stopped in there last wed, so that Liz could sit on a new wing, and compare it to the RSV. She liked it well enough that we did the paperwork and gave them $1000 down. We explained to them very clearly that that was our downpayment. No problem they said, we'll see what we can do. They called friday and said we were approved. My next day off was today, so we made an appointment to pick the bike up at 10:00.. So we get there at 10:00, they're moving bikes and atvs around and dont even look our way until almost 1030. When they get to us, the saleslady says have a seat, I'll go get the paperwork . When she comes back and sits down, she starts going over #s, Then says the total is 20000 or so, we are financing 13000 with your 7111 down, are you going to write a check for the other 6111? Excuse me??? what the ---- is this? We told her if they had just mentioned this over the phone, we could've avoided wasting our time. She says wait a minute, I'll go talk to the finance manager. So we go back and forth for a few minutes, and the wife and I are really getting POd. The excuse we got for not being told this over the phone was that they couldn't tell us about wanting a bigger downpayment because of the privacy act. Bull! Then, before they would give us our $1000 check back, we had to fill out a form stating why we weren't going to do business with them. It's probably a good thing that Liz filled out this form. So, there won't be a new bike this year, we're going to wait until spring. We told that to the folks at the Honda store and they had the cajones to ask us to come see them when we're ready to buy. Is this the normal way business is done when someone goes to spend this kind of money?? If so, the moneypit has probably got another 100000 miles or so in her. Link to comment Share on other sites More sharing options...
Squidley Posted September 17, 2008 Share #2 Posted September 17, 2008 Get ahold of Honda and tell them your story, I know they are very picky on who they have as dealers. Perhaps this is a sign that your not supposed to be on a Honda Link to comment Share on other sites More sharing options...
mini-muffin Posted September 17, 2008 Share #3 Posted September 17, 2008 I was always under the impression that they had to let you know what the down payment was before anything else was done. That's always been the case with anywhere I've gone. Sounds like you're better off not having the bike, if that's the way the treated you with the purchase. Just imagine how you might have been treated for any work done on the bike. Margaret Link to comment Share on other sites More sharing options...
BuddyRich Posted September 17, 2008 Share #4 Posted September 17, 2008 If you were approved by Honda Credit then you can go to any Honda Dealer and get the bike. I would have tossed them the keys to the 89 and said here is the rest of your down... Link to comment Share on other sites More sharing options...
GigaWhiskey Posted September 17, 2008 Share #5 Posted September 17, 2008 If you were approved by Honda Credit then you can go to any Honda Dealer and get the bike. I would have tossed them the keys to the 89 and said here is the rest of your down... Yanno, I might be a first genner but I think that is the best one I have read yet. Witty too! Link to comment Share on other sites More sharing options...
Ozark Posted September 17, 2008 Share #6 Posted September 17, 2008 What they did is just plain wrong. Sounds like being the "only" dealer in town has went to their head. Tell Honda Corp what you think and then find a good dealer. I don't think you would have liked dealing with them anymore anyway. :thumbsup2: Link to comment Share on other sites More sharing options...
Mariner Fan Posted September 17, 2008 Share #7 Posted September 17, 2008 I usually use my home bank for financing. Seems to help me with the negotiations when I have less things to think about. My Credit Union will give me 100% financing on a new rig. Have you looked into alternatives? Link to comment Share on other sites More sharing options...
YamaGeezer Posted September 17, 2008 Share #8 Posted September 17, 2008 You know, it just might be the way dealers are doing business now. When I bought my new '07 RSV off the floor, the initial deal was that I put down approx. $7K. My credit is very good, so I held my ground. They finally caved and let me have the bike with the minimum down payment I had with me and an interest rate I was happy with. I've financed every vehicle I've ever owned (who can pay cash anymore?). I'm looking now to buy a 2nd bike that I can set up as a single. I haven't decided which bike to buy, but when I do, I doubt very seriously that I'll be able to pay cash and I will not deal with Honda/Yamaha/Suzuki/Kawa credit. Ride over to Hendersonville, NC to the Honda Dealership right off I-26. Apparently, they sell more Wings than anyone in the country and have the best prices. (Can't think of the name of the dealership, though.) Link to comment Share on other sites More sharing options...
flb_78 Posted September 17, 2008 Share #9 Posted September 17, 2008 If you can't pay cash for a vehicle, you can't afford it anyways. Even if I did finance vehicles, the dealer supplied financing sucks. Link to comment Share on other sites More sharing options...
frogmaster Posted September 17, 2008 Share #10 Posted September 17, 2008 I usually use my home bank for financing. Seems to help me with the negotiations when I have less things to think about. My Credit Union will give me 100% financing on a new rig. Have you looked into alternatives? AGREE 10000% get your money from your local bank, credit union, ect... BEFORE walking in the door of any dealer. Link to comment Share on other sites More sharing options...
1rooster Posted September 18, 2008 Share #11 Posted September 18, 2008 (edited) You know, it just might be the way dealers are doing business now. When I bought my new '07 RSV off the floor, the initial deal was that I put down approx. $7K. My credit is very good, so I held my ground. They finally caved and let me have the bike with the minimum down payment I had with me and an interest rate I was happy with. I've financed every vehicle I've ever owned (who can pay cash anymore?). I'm looking now to buy a 2nd bike that I can set up as a single. I haven't decided which bike to buy, but when I do, I doubt very seriously that I'll be able to pay cash and I will not deal with Honda/Yamaha/Suzuki/Kawa credit. Ride over to Hendersonville, NC to the Honda Dealership right off I-26. Apparently, they sell more Wings than anyone in the country and have the best prices. (Can't think of the name of the dealership, though.) Schroaders Honda..http://www.schroaders.com/.....Closed Saturdays but open Sundays....Also they only take Hondas in on trade,no other brands.They are great people but the posted price on the bike "IS" the price. Edited September 18, 2008 by 1rooster Link to comment Share on other sites More sharing options...
krome rose Posted September 18, 2008 Share #12 Posted September 18, 2008 I can agree with everyone who has posted so far. Having worked at a car dealership for three years...you were being taken for a ride. Glad you walked out. And yes, once you are approved thru Honda Credit, you are approved at any joint. If the dealership changed the down to a higher number without your permission or knowledge to get the credit approved, and intended for you to sign the contract as they wrote it... Absolutely, contact the Honda Corporation and file a complaint. Go to a different dealership, do homework to ensure they are not owned by the same person, and just go off on the lack of honor from the other store. Guaranteed you will grab their attention! Brandy Link to comment Share on other sites More sharing options...
Dragonslayer Posted September 18, 2008 Share #13 Posted September 18, 2008 Get ahold of Honda and tell them your story, I know they are very picky on who they have as dealers. Perhaps this is a sign that your not supposed to be on a Honda Saw a cream puff 1st Gen sell on E-bay last night for $1,400. Link to comment Share on other sites More sharing options...
6pak Posted September 18, 2008 Author Share #14 Posted September 18, 2008 I called Honda of America and have lodged a complaint. When I explained what occured, the lady told me that the Alcoa store is a franchise, and although they will send a complaint letter, there isn't a lot they can do with one complaint. She did say however, that they will also check to see how many other complaints they have had against the store, If there have been more than a couple, They will take some sort of action. She had no idea what. I can't decide if she was just blowing me off or not. She did take the name, addy, and phone #. So I guess we'll see. The funny thing is on top of all this, we received a Honda store credit card in the mail yesterday worth 5G. So, I guess that if I want to find a bright side of the day, It was about 80 outside with lots of sun today, and we had about a 100 mile round trip on the 78 wing. Pretty day, Old bike running happily along, Tennessee mountains in the background. Life is still good. Link to comment Share on other sites More sharing options...
JimRoberts Posted September 18, 2008 Share #15 Posted September 18, 2008 Check the Honda dealership in Tupelo, MS. Lots of people from Birmingham area go there and save 1,000's of bucks. Link to comment Share on other sites More sharing options...
MiCarl Posted September 18, 2008 Share #16 Posted September 18, 2008 I used to sell cars. You want to separate the selling price from the financing and the trade in. If you have any two on the table at the same time you will get the short end of the stick. This becomes a shell game, and the dealer does this for a living. No way you'll be able to keep track of the pea. Link to comment Share on other sites More sharing options...
BigBoyinMS Posted September 18, 2008 Share #17 Posted September 18, 2008 http://www.yamahadiscountprices.com/submenu.htm Link to comment Share on other sites More sharing options...
az1103 Posted September 18, 2008 Share #18 Posted September 18, 2008 If you can't pay cash for a vehicle, you can't afford it anyways. Even if I did finance vehicles, the dealer supplied financing sucks. And it's the only way you'll get a good deal..... Link to comment Share on other sites More sharing options...
KiteSquid Posted September 18, 2008 Share #19 Posted September 18, 2008 Try not to finance your vehicles ESPECIALLY motorcycles and boats as they generally have higher interest rates and higher depreciation in the first year. MrsSquid makes sure I pay cash for my toys. Get an amortization table for your loan before you sign the paperwork and look at the amount you pay in interest. THINK about that number compared to the price you pay for the bike for a few days before you sign the loan paperwork!!!!! Link to comment Share on other sites More sharing options...
ediddy Posted September 18, 2008 Share #20 Posted September 18, 2008 If I waited until I could pay cash I wouldn't own a motorcycle or auto. I know its best to pay cash but in the real world sometimes you have to finance. When I bought my 05 RSV September 3, 2005 yamaha financed my bike at 6% interest. My bank's rate was higher than that. The interest rates with the manufacturers many times are lower than the bank. Also, since I own my own business I need to leave my credit with the bank open as much as possible in case I need to borrow for business purposes. Back to the way you were treated. I've heard of this with auto dealers many times but this is the first with motorcycle dealers. I have had friends that bought autos from dealers and signed the paperwork and drove away in the new car and then 5 to 7 days later get a call that they had to pay a larger down payment or bring the car back. I talked to a friend of mine who is an attorney and he said in Georgia the deal isn't final until it is accepted by the finance company and they can do this. A few years ago I traded a car for a toyota 4runner. I closed the deal and drove off with the new 4 runner. Three days later I got a call from the dealer saying that I was going to have to pay $2,000 down in addition to the trade in. I told him to get the auto I traded ready and I would bring back the 4runner and get my car back. The dealer told me to give him another day and he would call me back. He called and said if I would pay $750.00 more they could make the trade. I told him to get my car ready and I would bring the 4runner back. The next day I drove to the dealer and told them to get my car ready. The sales manager said if I would keep the 4runner I wouldn't have to pay any additional money down. I said get my car ready, I don't want your 4runner. He then said if you will keep the 4runner you won't have to pay any addtional down and we will lower your monthly payment by $50.00. I said look me in the eye and listen closely. Bring my car to me. He then said if you will keep the 4runner you won't have to pay any additional, we will lower your monthly payment $50.00 per month and give you free oil changes for the life of the vehicle. I told him I thought trading for a vehicle was supposed to be a pleasant experience but they had made it a nightmare and I was sick of them and their 4runner and to give me my car. I drove away. A friend of mine referred me to a dealer in Conyers, Georgia and I called them. They sold me a 4runner with more options for $3,500.00 less and with my car as a trade in with no money. I drove to Conyers and purchased the vehicle. Some dealers are honest and will treat you right and some try to screw your if you will let them. But don't give up, find another dealer. Link to comment Share on other sites More sharing options...
rsstar Posted September 18, 2008 Share #21 Posted September 18, 2008 You have a pm !! Link to comment Share on other sites More sharing options...
Cerviperus Posted September 18, 2008 Share #22 Posted September 18, 2008 I too would not be able to own a car or motorcycle if I didn't finance. I don't have the luxury of being able to drop that much cash. Maybe that's due to the fact I'm only 26. Regardless, I have to say that I would have done the same thing and walked out. When I bought my new bike (the BMW), I did the financing through the dealer. The percentage rate was just a fraction of a percent higher than the best I could find around here, so I went that route for less wasted time and effort on my part. When it came to the issue of the down payment, I was asked one question, "how much do you want to put down?". That's it. At first I didn't know because I wanted to run some numbers, and I wasn't handing them a check that day anyway, just made sure the credit was there. Once I determined where I wanted my payment to be, and over what term, I figured my down payment from there. I wouldn't have had to put anything down if I didn't want to, and they only change it would have made would have been my payment. It had no effect whatsoever on my percentage rate, which was based purely on my credit rating and the term of the loan. Maybe that's just a BMW Vs. Honda thing, but I still think you got the wrong end of that deal. Link to comment Share on other sites More sharing options...
GigaWhiskey Posted September 18, 2008 Share #23 Posted September 18, 2008 Our last car purchase has me hating dealers. To me, they stole our car (trade-in). They even tried to sell us stuff that was already on the car. Yes, get approved from your own source before you step foot in one of those places. Give yourself at least something to hammer them with if you can. I will have a bad attitude towards any dealer I walk into. Yes, the experience was absolutely horrible. If anyone wants to buy a car in my area, PM me and I will let you know where not to go. Link to comment Share on other sites More sharing options...
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