Consumer complaint received 2025-04-26 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — High-pressure sales tactics
Company: AMERICAN HONDA FINANCE CORP
State: FL

Complaint narrative:
I am filing a formal complaint against XXXXXXXX XXXX XXXX XXXX regarding deceptive and misleading practices during the purchase of XXXX XXXX vehicles on XX/XX/year>. My wife and I were misled, pressured, and provided false information about interest rates and optional insurance products throughout the sales and financing process. 

The sales representative initially presented a specific interest rate, which we agreed to. However, after several hours of waiting, we were rushed through the paperwork by the finance representative, who repeatedly told us, Just sign and Ill help you get a good rate. No explanations were provided for the terms, and we were pressured to sign documents without understanding what we were agreeing to. He said, Sign it and go round, meaning he wanted me to sign the page quickly and then immediately pass it to my wife for her to sign before returning it to him. I signed the page he gave me, handed it to my wife to sign, and we returned it to him, without fully understanding what we were agreeing to. His behavior was dismissive and unprofessional, as he rushed us through the process with no effort to clarify any of the terms. 

When we expressed hesitation about the second vehicle purchase, the finance representative falsely stated that the terms for the first vehicle would change if we did not sign immediately. He also claimed that the only way to secure a 5.99 % XXXX was to purchase optional GAP and XXXX insurance, which he said would lower the XXXX. He insisted this was a condition for both vehicles. 

A few days later, the finance representative called me and said he could help with the rate for XXXX vehicle. He offered to change the loan to XXXX XXXX, with a higher rate of 7.2 %, but told me I could cancel the optional coverage after only XXXX  months, rather than the XXXX  months he initially claimed. At the time, I didn't know that the optional coverage did not affect the XXXX or the loan terms, and I agreed to sign the new loan agreement under false pretenses. This was fraudulent behavior, as he led me to believe the optional coverage would impact my interest rate and that I had to maintain it for a specific period to avoid negative consequences. 

After receiving loan details from the actual lender, we discovered that : The insurance products have no effect on the XXXX or credit approval. 

We can cancel the insurance products anytime without affecting the loan terms or interest rate. 

The claim that canceling insurance products after XXXX  months would increase interest rates is false. 

I left a message on the dealership 's website regarding this situation, and the Customer Relations Director, a male, called me. While apologizing for the experience, he offered no practical solution or way to resolve the issue. He only stated, " You can call me anytime, '' with no clear guidance on how to address the situation. Based on numerous reviews on XXXX, it seems that this type of fraudulent behavior is a common practice at this dealership, where customers are routinely lied to and misled. 

These actions prevented us from making informed decisions during a significant financial transaction. We trusted the dealership to provide transparent and honest information, but instead, we were manipulated into purchasing unnecessary and costly add-ons under false pretenses. 

I am requesting that the Consumer Financial Protection Bureau investigate these practices for potential violations of consumer protection and fair lending laws. I am ready to submit all supporting documentation, including contracts, insurance agreements, and communications with the lender.

Company response to consumer: Closed with explanation