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 Post subject: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Thu May 11, 2017 12:12 pm 
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Joined: Sat Apr 27, 2013 12:32 am
Posts: 11
I'm starting year 5 of my lease, having previously agreed to a 24 month extension at $199 all in. With 11 payments out of 60 total left, American Honda Finance called me today telling me my payment wasn't made (it was, as I use auto pay) and that it was $27.26 short. But they then told me that due to a "CA tax change," the monthly payment would now be $406. Has anyone else heard about this? At a minimum, this is an unprofessional way to let a customer know of a price increase. At a maximum, I'm not sure if such an adjustment is legal. I told them to send me the justification in writing. The number I've been using is 800-445-1358. I talked to American Honda in Torrance, CA and they told me the folks at the EV program now nothing about this, that its all a Honda Finance issue.


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 Post subject: Re: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Fri May 12, 2017 4:06 am 
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Joined: Fri Jun 07, 2013 10:49 am
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Location: Orange County, New York
Something seems very wrong with this. Have you tried contacting Robert Langford? Does anyone know if he's still the contact person at Honda for the EV program?

Drew

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 Post subject: Re: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Fri May 12, 2017 4:54 am 
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Joined: Fri May 31, 2013 12:42 pm
Posts: 528
Location: Albany, NY
Yes, I'm sure it's a mistake. Nothing to see here folks.

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Mike

https://www.facebook.com/groups/CapitalDistrictEVDrivers/


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 Post subject: Re: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Fri May 12, 2017 6:45 am 
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Joined: Sat Apr 27, 2013 12:32 am
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Update: yes, this is wrong despite this is exactly what a supervisor at Honda Finance named Jack 800-205-8235 told me my new payment was: $406, not the $199 ive been paying since I extended. Someone else at Honda Finance later me told Jack had mistakenly read my file and thought that my initial payment ($406) was my new payment. Doh!
However, the reason Honda Finance contacted me is because I have have underpaying at $199 each month since I renewed because the amount shouldve been $216.41 which is $199 plus tax.
My recollection was that the tax was included in the $199 payment and this was what I had been auto-paying my last 13 payments without there being a problem (until yesterday).
Can anyone confirm for me that when they extended, the tax was not included in the $199?

Unrelatedly, has anyone hit the end of their 5 years yet? If so, has Honda simply taken the car back or have they offered a further extension or offered a sale?

Thanks.


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 Post subject: Re: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Fri May 12, 2017 7:33 am 
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Location: Albany, NY
I can confirm that tax is not included in the $199/mo. lease. In NY I paid over $600 in tax for my 2 year extension. I've read that Honda will extend the lease for two more years at the same $199 rate for a total of seven years.

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 Post subject: Re: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Fri May 12, 2017 4:59 pm 
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Joined: Mon Oct 01, 2012 10:57 am
Posts: 21
Location: Portland, OR
blownb310 wrote:
I've read that Honda will extend the lease for two more years at the same $199 rate for a total of seven years.


Where did you read that? My lease (5 years) ends on September 28, 2017. I'm interested in extending another two years but I haven't gotten anything in the mail. I'm assuming that I will be asked to return the car.

Denny

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 Post subject: Re: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Fri May 12, 2017 8:19 pm 
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Location: Albany, NY
dennywh wrote:


Where did you read that? My lease (5 years) ends on September 28, 2017. I'm interested in extending another two years but I haven't gotten anything in the mail. I'm assuming that I will be asked to return the car.
I read it in the Fit EV Facebook group. It's not official, but the source is usually correct and knows things well before we do. The disappointment is that the price is the same. We were expecting another price drop.

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 Post subject: Re: Honda Finance DOUBLING monthly lease payment?!
PostPosted: Mon Jun 12, 2017 2:52 pm 
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Joined: Mon Oct 01, 2012 10:57 am
Posts: 21
Location: Portland, OR
blownb310 wrote:
read it in the Fit EV Facebook group. It's not official, but the source is usually correct and knows things well before we do. The disappointment is that the price is the same. We were expecting another price drop.

I just spoke with Honda Financial and they have no plans to extend the lease beyond five years. The rep put me on hold for a long time while she talked to her manager. Either it's still unofficial or it's not going to happen.

I'm still going to assume that I will need to return the car. Time to go car shopping!

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