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Old 03-31-2008, 09:05 PM   #61
Buck Nasty
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sorry roger, no lawyers can help you here. on your contract theres going to be a small w.a.c written somewhere, which means the 4.9 was not possible and the contract is null .

i had the same thign happen to me, except i was the salesman. nonetheless we got our vehicle back from customer.
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Old 03-31-2008, 09:16 PM   #62
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Old 03-31-2008, 09:37 PM   #63
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he can't repo it he messed up!!!!!!!!! the deal is done!!! you can sue them their fault contract done.
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Old 03-31-2008, 09:50 PM   #64
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he can't repo it he messed up!!!!!!!!! the deal is done!!! you can sue them their fault contract done.
Wow - you've got the answer! No questions, no ifs, no contingencies, just a statement of absolute fact. I am impressed.

So, you have read this contract, know all of the provisions and you either are or have reviewed it with an attorney? Please educate the rest of us on contract law and what precedents apply.
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Old 03-31-2008, 10:02 PM   #65
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Just remember - it's just a device - you bought it once, if they choose to take it back because of their selling mistake - you can buy another one. I would definitely not buy it from them - negotiation or not: this is bad business, either by intent or mistake.

I would answer 'no' until they produce legal reasoning - let them prove it to you, and check with an attorney on their reasoning. Maybe they have a case. If they do, any riding/damaging/modifying you do will cost you.

And if they have a case - just give it back - go buy another from someone else.

And they can come and pick it up too. But I would not go over the rate they agreed to regardless - they can finance it themselves if they like.
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Old 03-31-2008, 10:52 PM   #66
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I would contact a lawyer and call one of the news "investigators" and get them some horrible PR and make them lose business....

i don't think that place has much business to begin with
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Old 04-01-2008, 07:01 AM   #67
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Ok guys, here's the thing. I bought my 08 1000RR from Galveston Honda wednesday. 4.9% through Honda financing woohoo right? Sign the contracts shake hands and I drive away. Well I get a call from my salesman Pike the next day saying "oh I made a made a mistake Honda wants to give you 18% financing not 4.9! but I talked them down to 10%...

Now I have a signed contract from this guy and the dealership for 4.9 but Im not sure how solid it is he's since called back and said theres 2 options I can resign a new contract at 10% or he's going to repo the bike.. WTF A payment isint even due yet?

The only thing I can think of is maybe Honda told him to give us a certain % rate and he misread it or something and put 4.9 and then we signed, then when we left he faxed it to them and they said "we are not doing this"

Because if thats not the case then I dont think he has a legal leg to stand on here. Im confused and Im wondering if anyone here has a lawyer that I can talk to for 30 min free or something who can tell me what I should do. Should i go resign? or should I just ignore him and wait for my first bill in the mail and pay it?

We are talking almost 2,000 Dollars in extra interest if I resign at 10% vs 4.9
its a scam and tell them to lick yer' sack, from 4.9 to 18% !?
thats funny stuff, I would have had some fun with that dude
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Old 04-01-2008, 07:59 AM   #68
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Old 04-01-2008, 08:02 AM   #69
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Fact #1- there's gonna be a shitton of these bikes for sale this year
Fact #2- until the deal is completely done, you don't own the bike (it sounds like it's not completed anyway)
Fact #3- you haven't paid a dime for the bike

I would call them up, and if they want to change the interest rate, I'd say "come get your bike" and buy from someone else.

I think that if you try to fight this, it's only going to end up in headaches and drawn out BS. My guess is that there is some small print in the contract that allows them to do this (as some have said already).
Wrong!!

It's a classic case of bait and switch. Get an attorney and have him send a demand letter basically telling them to F off and pay his attorney fees. If they come get the bike from you you can add some damages to it. Happened to me with a truck I purchased back in the 90's.

Keep riding it!
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Old 04-01-2008, 08:17 AM   #70
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I bought my bike on 20+% interest just b/c there was another dude there that was gonna buy it if i didnt and I was hardheaded. The following monday, went to my credit union and got 5.25%, did a refinance paid off the first loan and there you go! Youve got plenty of time before that first payment hits
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Old 04-01-2008, 08:57 AM   #71
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There is going to be some fine print in thier favor. I too have seen this before. To my knowledge its legal for them to do it. Its no different than if they let you take a car for the weekend after some paper work and then on monday they cant do the deal you discussed. Let them have it back and go elsewhere with another finance comp. If credit is over 700 you should have comps. fighting to finance you. Give it back and say thanks for the test ride. My 02$
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Old 04-01-2008, 09:36 AM   #72
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sorry bud, but at this point, most everything is in the dealers favor.

you really have three choices:
1) accept their deal and keep the bike
2) find your own financing that is a lower rate, rework the paperwork and keep the bike
3) refuse the deal as that is not what was mutually agreed upon between you and the dealer - return the bike and walk away.

This situation is EXACTLY why you should always make sure all terms and conditions are satisfied BEFORE driving a vehicle off the lot.

One more thing.

As explained by The Peoples Lawyer on Ch 2,11 or 13 there is no "buy then drive three days and return with buyers remorse" law in Texas.

Why not? Well, just think about how many three day joy rides the dealers would have to give - then accept a "used" car back.

If you intend to buy a vehicle then you better be serious about it.

A good credit score is a NICE thing to have in your favor.

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Old 04-01-2008, 10:10 AM   #73
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If this was me I would do everything to protect my credit! I wouldn't risk letting them come get it and somehow it showing up as a repo, thats bs! Kind of like when your shopping and the kid tells you he needs to rescan your card and you later find out it did go through the first time even though they were so sure that it didn't!

Signing at a new rate and then refinancing at a better rate through another lender is allot of work but in the end it will not hurt your credit. I stop trusting other people with mine, I have worked way to hard and long to risk it!
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Old 04-01-2008, 10:36 AM   #74
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it was never a done deal it wont show up as a repo.
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Old 04-01-2008, 11:17 AM   #75
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Quote:
Originally Posted by Polo1000RR View Post
Signing at a new rate and then refinancing at a better rate through another lender is allot of work but in the end it will not hurt your credit. I stop trusting other people with mine, I have worked way to hard and long to risk it!
this is not necessarily true, because every time a company checks your credit it's recorded. if you have too many credit inqueries it can hurt your score, i just don't remember how long that stuff stays. basically it hurts you because it can appear that you're applying for a lot of different credit accounts in a short time frame.

good luck to you with this deal though, hopefully it works out in your favor in the end.
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Old 04-01-2008, 11:22 AM   #76
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This situation is EXACTLY why you should always make sure all terms and conditions are satisfied BEFORE driving a vehicle off the lot.

+1


and the problem with that is many deals are made after hours or on weekends when the Finance Companies are closed so the deals are never really approved 100%, when done "after hours"... this may be why the OP is having issues now..
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Old 04-01-2008, 11:29 AM   #77
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Quote:
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this is not necessarily true, because every time a company checks your credit it's recorded. if you have too many credit inqueries it can hurt your score, i just don't remember how long that stuff stays. basically it hurts you because it can appear that you're applying for a lot of different credit accounts in a short time frame.

good luck to you with this deal though, hopefully it works out in your favor in the end.
This is true. But the deduction for checking your credit ranges between 1 and 3 points. This is minute compared to the chance of a repo! I don't know it's just the way I look at it!
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Old 04-01-2008, 11:36 AM   #78
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I'm the guy that sold him the bike, I have been selling bike's for 6 years, I made an honest mistake, the paperwork was sent to Honda not GE money bank, I called everyone at honda finance to try to get a better rate, but was unable to do it. If anybody has a better answer I would really like to know. I have always tried to be fair and honest, but i'm not perfect, if I could get him a better rate I would! I'm stuck
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Old 04-01-2008, 11:36 AM   #79
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shopping for car ins will do the same. They can tell what is going on.
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Old 04-01-2008, 11:39 AM   #80
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I'm the guy that sold him the bike, I have been selling bike's for 6 years, I made an honest mistake, the paperwork was sent to Honda not GE money bank, I called everyone at honda finance to try to get a better rate, but was unable to do it. If anybody has a better answer I would really like to know. I have always tried to be fair and honest, but i'm not perfect, if I could get him a better rate I would! I'm stuck
Well if your admitting to it being your fault then your company should make it right with the customer! I understand that nobody is perfect but why should the customer suffer for your mistake??
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