Anyone catch the 60 Minutes piece on Dealer Financing? The Finance
guy can add 1 - 3 percentage points (or more) to your loan and get a
check (dealer reserve) from the finance company for the extra profit.
3% could be a couple thousand dollars extra on a $20,000 car financed
for 60 months. I assume this is mostly done with people who don't
qualify for factory financing. Or maybe don't know they qualify for
factory financing. People with mediocre credit might qualify for
14.9% financing but be written up for 17.9%. One ex-employee said
they would bump people as much as they could. One lady got taken for
$7,000.

The finance guy would tell the customer he was getting the "best
possible" financing. The dealer they interviewed smiled a lot and
said customers know that everything is negotiable (again and again).
If they didn't get a better deal somewhere else then that was the
"best possible" deal there were going to get there. Not telling the
customer about the additional charge seemed quite ethical to him.

This has nothing to do with Honda dealers specifically, but you have
to be careful everywhere.

Do The Math Yourself,
Roadie Roger