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  #1 (permalink)  
Old 30 Apr 2006, 04:26 pm
tww
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Default Honda Loyalty Plan

I recently traded my 01 Prelude off on a new Accord EX Coupe I4. While I
got a decent trade on the 'lude and price on the Accord, I was surprised by
an offer I could easily refuse. During the process, my salesman (who I have
dealt with before) told me that I would be told that I "qualified" for the
Honda Loyalty Plan during the finalization of the deal -- where you write
the check. He (in so many words) told me I should just listen to the
Finance person's pitch -- and that I was sufficiently wise to make the right
decision.

Well, the pitch was for a glorified maintenance discount for 5 years along
with road service and loaner car with options that were presented in "easy
to pay" installments running from "a mere $40 - 60 per month" depending on
the option selected. Did not take any real intelligence to figure out that
this was a lot of nothing for around $3,000 and not even an extended
warranty --- although that would not be much of a warranty since the Honda
powertrain warranty now runs through 60k.

The Finance guy seemed convinced I would bite and was seemingly "stunned"
when I turned him down, wrote my check, said thanks and left.

Guess I never heard this one before. Have to love the name, though.




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  #2 (permalink)  
Old 30 Apr 2006, 04:31 pm
Elle
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Default Re: Honda Loyalty Plan

"tww" <twaugh5@cox.net> wrote
>I recently traded my 01 Prelude off on a new Accord EX
>Coupe I4. While I
> got a decent trade on the 'lude and price on the Accord, I
> was surprised by
> an offer I could easily refuse. During the process, my
> salesman (who I have
> dealt with before) told me that I would be told that I
> "qualified" for the
> Honda Loyalty Plan during the finalization of the deal --
> where you write
> the check. He (in so many words) told me I should just
> listen to the
> Finance person's pitch -- and that I was sufficiently wise
> to make the right
> decision.
>
> Well, the pitch was for a glorified maintenance discount
> for 5 years along
> with road service and loaner car with options that were
> presented in "easy
> to pay" installments running from "a mere $40 - 60 per
> month" depending on
> the option selected. Did not take any real intelligence
> to figure out that
> this was a lot of nothing for around $3,000 and not even
> an extended
> warranty --- although that would not be much of a warranty
> since the Honda
> powertrain warranty now runs through 60k.
>
> The Finance guy seemed convinced I would bite and was
> seemingly "stunned"
> when I turned him down, wrote my check, said thanks and
> left.
>
> Guess I never heard this one before. Have to love the
> name, though.


What's interesting to me is that the salesman kind of warned
you about this in advance. ISTM car salesman and the
dealer's in-house shark... oops, I mean finance people...
tend to be in cahoots, with a mutual goal: Ream the buyer
for as much moolah as possible.

Sounds like your sales guy is a keeper.


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  #3 (permalink)  
Old 30 Apr 2006, 05:30 pm
tww
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Default Re: Honda Loyalty Plan


"Elle" <honda.lioness@nospam.earthlink.net> wrote in message
news:N0a5g.5612$An2.4074@newsread2.news.pas.earthl ink.net...
> "tww" <twaugh5@cox.net> wrote
> >I recently traded my 01 Prelude off on a new Accord EX
> >Coupe I4. While I
> > got a decent trade on the 'lude and price on the Accord, I
> > was surprised by
> > an offer I could easily refuse. During the process, my
> > salesman (who I have
> > dealt with before) told me that I would be told that I
> > "qualified" for the
> > Honda Loyalty Plan during the finalization of the deal --
> > where you write
> > the check. He (in so many words) told me I should just
> > listen to the
> > Finance person's pitch -- and that I was sufficiently wise
> > to make the right
> > decision.
> >
> > Well, the pitch was for a glorified maintenance discount
> > for 5 years along
> > with road service and loaner car with options that were
> > presented in "easy
> > to pay" installments running from "a mere $40 - 60 per
> > month" depending on
> > the option selected. Did not take any real intelligence
> > to figure out that
> > this was a lot of nothing for around $3,000 and not even
> > an extended
> > warranty --- although that would not be much of a warranty
> > since the Honda
> > powertrain warranty now runs through 60k.
> >
> > The Finance guy seemed convinced I would bite and was
> > seemingly "stunned"
> > when I turned him down, wrote my check, said thanks and
> > left.
> >
> > Guess I never heard this one before. Have to love the
> > name, though.

>
> What's interesting to me is that the salesman kind of warned
> you about this in advance. ISTM car salesman and the
> dealer's in-house shark... oops, I mean finance people...
> tend to be in cahoots, with a mutual goal: Ream the buyer
> for as much moolah as possible.
>
> Sounds like your sales guy is a keeper.
>
>

Yeah! I have been dealing with him for around 10 years; he's decent and
honest.


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  #4 (permalink)  
Old 02 May 2006, 12:17 am
John Horner
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Posts: n/a
Default Re: Honda Loyalty Plan

tww wrote:
> I recently traded my 01 Prelude off on a new Accord EX Coupe I4. While I
> got a decent trade on the 'lude and price on the Accord, I was surprised by
> an offer I could easily refuse. During the process, my salesman (who I have
> dealt with before) told me that I would be told that I "qualified" for the
> Honda Loyalty Plan during the finalization of the deal -- where you write
> the check. He (in so many words) told me I should just listen to the
> Finance person's pitch -- and that I was sufficiently wise to make the right
> decision.
>
> Well, the pitch was for a glorified maintenance discount for 5 years along
> with road service and loaner car with options that were presented in "easy
> to pay" installments running from "a mere $40 - 60 per month" depending on
> the option selected. Did not take any real intelligence to figure out that
> this was a lot of nothing for around $3,000 and not even an extended
> warranty --- although that would not be much of a warranty since the Honda
> powertrain warranty now runs through 60k.
>
> The Finance guy seemed convinced I would bite and was seemingly "stunned"
> when I turned him down, wrote my check, said thanks and left.
>
> Guess I never heard this one before. Have to love the name, though.
>




LOL, I think that more profit is made at the "finance person" step of
the car sales process than is made in the actual sale. Extended
warranties, BS "protection packages", maintenance plans and the rest are
all sold to people when they think the selling part is over.

You did good!

John
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  #5 (permalink)  
Old 02 May 2006, 11:23 pm
Shawn B.
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Default Re: Honda Loyalty Plan

> Sounds like your sales guy is a keeper.

I purchased multiple Toyotas through the same sales person, I really liked
him. I told him what I want, he helped me get it, he told me a price, I say
"not so" he says "how so" I say "so so" and we agree on a price without
back-and-forthing a closing manager and then bing... done.

One day I was there scoping out a new 2006 Tacoma PreRunner 4-door that I
want and an old lady approached and she said "do you remember me" to the
sales person and he said of course, I sold you that blue celica 20 years ago
and she said good memory (there was a bit more conversation involved).
Anyway, he introduced me to her (as a courtesy) and stated that the blue
Celica was the first car he ever sold and here she is "turning it in" for a
new Camry.

He's a keeper. It is unfortunate that my gas is currently $350 /mo. for my
Tacoma and the new Tacoma would be $483 and as such, I'm getting a Civic
Hybrid instead. There is saving grace for me, when my wife's Acura needs
replacing next year (her 10 year mark) then she'll let me get the truck (but
she'll have to drive it because she has a 5 mile commute and I have a 56
mile commute).

Thanks,
Shawn


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