Cancelling Honda Care - Drive Accord Honda Forums | radio-pro.ru
Reply
LinkBack Thread Tools Search this Thread Rate Thread Display Modes
post #1 of 23 Old 06-13-2016, 06:49 AM Thread Starter
1st Gear

Join Date: Jun 2016
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
Cancelling Honda Care

I recently purchased a certified pre owned 2013 Honda Accord.

When financing the car, I also purchased Honda Care (extended warranty). I was told at the time that they would use the coupon that the dealership receives from Honda Care to buy down my interest rate as my credit was not so great at the time (~685).

After reading through the warranty, I decided to cancel it as I get a full refund if I cancel before 60 days. When I went in to cancel Honda Care, the finance guy told me that if I cancel it now that I would have to pay the interest buydown amount that the dealership paid to lower my interest rate. The amount I would need to pay is not much lower than what I paid for Honda Care.

After doing some research online, I can't tell if this guy is lying to me or not. He recommended that I cancel after I refinance in 7 months (when my credit score is better).

Because this would be past the 60 day cancellation period, he told me that it would only be a $75 fee to cancel at 7 months.

Does anybody know if this is true? That I would have to pay to cancel my warranty due to the interest rate buy down?

I hate that I can't cancel Honda Car over the phone or online. It make it very frustrating that I have to physically go in and have to cancel it when there is the finance guy trying to talk me out of it.

daneeill is offline
Advertisement

post #2 of 23 Old 06-13-2016, 06:53 AM
Runnin' in the 90s

enne's Avatar

Join Date: Nov 2015
location: Pennsyltucky
Posts: 4,104
Thanks: 299
Thanked 258 Times in 235 Posts
Garage
They want you to pay them for a discount the dealership gets for free...? Did I read that correctly?

Would cancelling now and paying the interest buydown with the refund money be more or less than the $75 fee to cancel in 7 months? Just curious.



To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
1999 Honda Accord LX Sedan 2.3 F23A4 147K Airwrap Jet Black
---------------------------------------------------------------------------------

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
1998 Chevy Camaro Coupe 3.8 3800 II 124K Sebring Silver
---------------------------------------------------------------------------------

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
2002 Chevy Cavalier LS Sedan 2.2 LN2 138K Sandrift Metallic
enne is offline
post #3 of 23 Old 06-13-2016, 06:57 AM Thread Starter
1st Gear

Join Date: Jun 2016
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
When I asked how much it would cost for me to cancel it, he said it would not be much cheaper than what I paid for the Honda Care. So he is talking in the $1600 range. I find this very hard to believe.

I financed the car, so the refund would go to the principal of the loan balance.

I am hoping someone was in a similar situation as me so I can tell if this is true or not.
daneeill is offline

post #4 of 23 Old 06-13-2016, 07:02 AM
Runnin' in the 90s

enne's Avatar

Join Date: Nov 2015
location: Pennsyltucky
Posts: 4,104
Thanks: 299
Thanked 258 Times in 235 Posts
Garage
Hmm...so he just said "It won't be much cheaper" instead of giving you a hard number. Sounds a little fishy to me. Yes, I hope someone who's dealt with Honda Care stuff can help you out. I'm wondering.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
1999 Honda Accord LX Sedan 2.3 F23A4 147K Airwrap Jet Black
---------------------------------------------------------------------------------

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
1998 Chevy Camaro Coupe 3.8 3800 II 124K Sebring Silver
---------------------------------------------------------------------------------

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
2002 Chevy Cavalier LS Sedan 2.2 LN2 138K Sandrift Metallic
enne is offline
post #5 of 23 Old 06-13-2016, 07:04 AM Thread Starter
1st Gear

Join Date: Jun 2016
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
I am not familiar with this whole interest rate buy down so I have no idea if he is lying to me to talk me out of cancelling Honda Care (which worked btw)
daneeill is offline
post #6 of 23 Old 06-13-2016, 07:18 AM
6th Gear

vasekvi's Avatar

Join Date: Aug 2008
location: Atlanta GA
Posts: 1,208
Thanks: 10
Thanked 61 Times in 52 Posts
Send a message via AIM to vasekvi Send a message via Yahoo to vasekvi
Can you not cancel directly with the company instead of having to go back to the dealer?

I'm in retail sales so sometimes when I sell a product and I negotiate with the customer to buy extras and then discount their product accordingly, I only refund the difference back to where it would be that the customer pays the original list price of the product. Not sure if this is the case here or not but if you negotiated on a total package deal and return the incentives for that deal, it may not be right that you still get the deal.

Sent from my LG-H900 using Tapatalk

My 2003 SSM Sedan Build Thread


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
vasekvi is online now
post #7 of 23 Old 06-13-2016, 07:33 AM
6th Gear

Join Date: Apr 2015
location: Chicago
Posts: 1,015
Thanks: 8
Thanked 52 Times in 47 Posts
Forget the sales or finance guy, you should be able to cancel directly with honda consumer affairs or its equivalent. Even if they lose a certain bonus, how are they going to make you pay the difference?

2012 Infiniti G37S 6MT Sedan - Eibach Sway bars, Invidia Q300 Exhaust
2015 Honda Accord EX-L Sedan 100% stock
GPz1100 is offline
post #8 of 23 Old 06-13-2016, 08:01 AM Thread Starter
1st Gear

Join Date: Jun 2016
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
I was told that I need to go into the dealership to cancel the Honda Care.

This makes it very frustrating to cancel
daneeill is offline
post #9 of 23 Old 06-13-2016, 08:07 AM
6th Gear

vasekvi's Avatar

Join Date: Aug 2008
location: Atlanta GA
Posts: 1,208
Thanks: 10
Thanked 61 Times in 52 Posts
Send a message via AIM to vasekvi Send a message via Yahoo to vasekvi
What advantages is Honda Care providing? I got my car at car max and even thought I know the car is reliable and the extended warranty was pricey I get to drive my 34,000 Mike car all the way up to 150,000 miles and not have to worry.

Sent from my LG-H900 using Tapatalk

My 2003 SSM Sedan Build Thread


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
vasekvi is online now
post #10 of 23 Old 06-13-2016, 09:04 AM
Moderator

03LXV6's Avatar

Join Date: Jun 2006
location: South Florida Again
Posts: 3,812
Thanks: 1
Thanked 183 Times in 150 Posts
I don't think that the interest rate you are approved for at the bank has anything to do with you purchasing the warranty. The dealerships make money off the warranty so they will do anything to sell it to you.

I haven't seen anything regarding the legality of such practice so I don't know how you would go about cancelling. Maybe contact the bank and see if they can help.

2007 EX-L 4DR
03LXV6 is online now
post #11 of 23 Old 06-13-2016, 11:56 AM
03 Accord EX

Join Date: May 2009
location: East Coaster- NC-NH
Posts: 418
Thanks: 74
Thanked 14 Times in 11 Posts
Quote:
Originally Posted by daneeill View Post
I was told that I need to go into the dealership to cancel the Honda Care.

This makes it very frustrating to cancel
You don't have to. I believe. You should get your Honda Care account number/packet and then call Honda to cancel.
1accord is offline
post #12 of 23 Old 06-13-2016, 05:31 PM
4th Gear

Join Date: Feb 2009
location: CNY
Posts: 443
Thanks: 8
Thanked 32 Times in 22 Posts
try this

2016 Touring Coupe
Deep Blue Opal Metallic
joebxr is offline
post #13 of 23 Old 06-13-2016, 05:39 PM
6th Gear

Join Date: Apr 2008
Posts: 1,177
Thanks: 0
Thanked 1 Time in 1 Post
^ go with the number in the above post to cancel. The guy likely lied to you with some bs reason he made up. That said, I'd still get Honda care if you got the CVT. Just don't get it at the dealership but online to save yourself hundreds. I got my 8yr/120k for $1,100, around which point I'll sell my car and get another Honda (I don't trust CVT).
Honda2014 is offline
post #14 of 23 Old 06-13-2016, 06:30 PM
6th Gear

steve88's Avatar

Join Date: Sep 2013
location: Northern Virginia
Posts: 1,271
Thanks: 128
Thanked 151 Times in 132 Posts
I'd call HondaCare at (800) 999-5901. But if it helps, I have a HondaCare warranty and it says in the contract that if I want to cancel, I have to fill out a Cancellation Request form at the selling dealer. And if I financed the contract when I bought the car, the pro-rated refund amount will go back to whoever financed it. If I paid for the contract myself, the refund comes back to me. There's also a $25 processing fee to do this. That's what my contract says anyway (and I'm reading it right now).

I've never heard of an interest rate buy down with the purchase of a new car or how that would be tied to a HondaCare warranty so I'd just call that 800 # and explain what's going on and see what they say. Good luck and please post back here to let us know how this works out!

Current: 2013 EX-L CVT Accord Sedan
Alabaster Silver Metallic with Gray Leather

Previous: 2003 LX Accord Sedan 5-Speed AT, 1996 DX Accord Sedan 5-Speed MT
steve88 is offline
post #15 of 23 Old 06-13-2016, 06:48 PM
Stock Pssh...Yeah right!

Sport2013's Avatar

Join Date: Jul 2013
location: So.California
Posts: 342
Thanks: 32
Thanked 26 Times in 17 Posts
Just keep the dam thing. You'll maybe need it in the future. I'm still debating if I should get it myself, but the car is a garage queen and have no use for it a.t.m


Traded my Sport for a V6 Coupe
Sport2013 is offline
Advertisement

Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Drive Accord Honda Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
The answer to the random question may be found under the Off Topic section of the forums and in the "Drive Accord Forums" category.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools Search this Thread
Show Printable Version Show Printable Version
Email this Page Email this Page
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:



Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to


Related pages


carproof or carfaxautomatic headlight conversion kitacura tsx pedalsphoenix rebuilt transmissionhonda prelude breakingdls component speakersbfg touring tamtx vs kicker3m spray on clear braheadliner material joann fabricswinter tire ratings 2014rear strut mount replacement cost99 civic radio codeoreck xl classic reviewsk24 modshonda odyssey battery costmorimoto bi xenon projectorsfrozen windshield washer1010 wheel tire calculatorhonda vsa light stays oninfiniti fx forums2001 honda accord control armhonda civic blown head gasket97 honda accord coilovers2009 honda civic radio codewheel offset picturescan 10w30 be used instead of 5w204th gen accordacura service a12function form coilovers reviewyakima roof rack installation instructionsradio code for 2001 honda civic94 accord fuel pump relayhow to fix seized brakes1999 honda civic water pump replacement2001 honda civic maintenance lightplasti dip wal mart1999 honda accord doorheadlight tint spray2009 honda pilot rotorsgta car kits bluetoothrich spark plugmyron and davis dvd player35505-s84-b02honda wiper blade insertsalice tx topixf23a5tsx type s specshonda odyssey suspension problemscar vibrates at 50 mphebay weathertech floor matshonda vtec controllerhow to tell if turn signal relay is badhonda transmission additivemtf oilremoving plasti dip from carpimped rimshonda accord accessories 2004honda connecting rodshow much does it cost to repaint a bumpersymptoms of slipping transmission1998 honda accord 4 cylinder enginecleaning weathertech matshonda accord on 20ssumitomo htr tires reviewhonda crv 2001 radio coderelay harness for hid kit2003 honda accord motor mountsacura cl rims98 honda accord valuehonda pilot maintenance light resettsx mugen grillac delco transmission fluidhow to tell if you have warped rotorsb1 service honda crv