Consumer complaint received 2017-05-18
Company: AMERICAN HONDA FINANCE CORP
State: IL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Denied request to lower payments

Complaint:
To whom it may concern : My name is XXXX XXXX and Im writing this letter to file a complaint against XXXX XXXX XXXX and XXXX XXXX dealer located at XXXX XXXX XXXX XXXX XXXX IL XXXX. You may think I have waited too long to file, but fear and uncertainty make me doubt I have a chance to win my case. Its like fighting against a big monster because American Honda Finance Corporation have all the money to stop any complaint against them. But on XX/XX/XXXX I received an email let it me that I was part of the people who may receive money thru the American Honda Settlement, so I download the application and after filling it out, I sent the email on XX/XX/XXXX and I received an email letting me know that they received it. Then they send me another email saying that some info was missing and I should sign the deficiency form and send it to them. They said if I was eligible to participate in the settlement, I will receive a packet, and if Im not they will notify me as well. I havent received anything from them. So, I wanted to file a claim and let you know why I deserve to get money back from Honda. On XX/XX/XXXX I purchased my first brand new car. I wanted the XXXX so they gave me a XXXX XXXX. I thought that because it was my first time I didnt have many option, like choosing color, but I just was so excited with the idea of getting a new car. I traded in my XXXX XXXX XXXX and gave {$3500.00} cash down payment. They gave an APR of 5.90 for 60 months. My credit wasnt the best at that moment, but I truly believe that I was paying too much in APR. A year after I was checking the Honda website and I compared the XXXX XXXX XXXX, filling the info with what I gave before my payments, I should have been paying less than that. I called them and they let me know that I should get a better deal. I went to the dealer and I told the sales person that it was unfair I had given {$3500.00} as a down-payment and traded in my XXXX XXXX and still have to pay {$480.00} monthly. At least I should have the chance to choose the color of the car. The sales person told me that they will give me a XXXX XXXX and I will get the color that I want to choose. But the first think that I told the sales person was that I didnt want to get into a lease ; I wanted to own my car so I wanted to get finance like the first time. So on XX/XX/XXXX I purchase the car and the APR was 5.89 my monthly payment was {$480.00}. On XX/XX/XXXX, I received a call from Honda letting me know that I only have couple payments left and my three options are : Return the car, pay the car in full or get a new car. I didnt understand what he was talking about. I went to the dealer and they told me that I was under a program lease and that I had to trade in my car and get another one. I asked to have a word with the manager and I ask him to give me an explanation why I was on a lease when I told my sales person that I didnt want to be on a lease. He told me that the sales person did the same to other customers so he got fired but that wasnt going to help me ; so I was pushed to trade in my car and got a XXXX XXXX. My APR was 4.74, my monthly payment was {$590.00}. I was crying because it was so unfair. They treated me so bad!! I lost my job because I hurt my XXXXr and I went to the dealer trying to get a lower payment because I was struggling with my finances. They told me that I could get a smaller car and I would save money. They offered me the XXXX XXXX XXXX, my APR is 6.49 my payments are {$480.00}. But honestly, Im really upset because Ive been paying Honda over {$40000.00} all these years and I should own a car already with that money. I feel that Im never going to finish paying my recent car because I only pay interest. Please help me be part of the American Honda Financial Settlement so I may receive money back and be able to pay off my car. I understand that part of this was my fault for not being more informed about the high interest or about the trade in options. But I was cheated by a sales person and a manager. I have proof of everything that has happened as well as the confirmation emails saying they had received the paperwork of the settlement. Please suggest to me any legal actions that I can take to obtain justice. My complete info is XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX, IL XXXX XXXX Thank you

Company response to consumer: Closed with explanation