Honda Financial Services / outrageous finance charges

United States

We are at the end of the lease of our 2006 Honda Odyssey, so I dug out our paperwork to find out some specifics on the terms.

Running the numbers and talking to the dealer, I found out we were charged a 40% interest rate, Honda calls it a Rental Charge. This amounted to being overcharged over $5000 compared to an auto loan from Citi-Financial I had received a year earlier at a 10% rate, also on a new Honda.

I wrote Honda a complaint letter and then talked to 2 representatives and they didn't want to do anything to make our deal "right." This was my 3rd new Honda either leased or purchased, and I told them it was my last. They didn't seem to care.

I realize that a contract is a contract, but I would think that the financial arm of Honda would treat their customers better and would have the integrity not to charge their customers a 40% interest rate.


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