One of my Aunts has a 2002 HondaAccord SE Sedan with an Automatic transmission. She bought the car in 2005 with 39k miles as a Honda Certified Pre-Owned Vehicle. Since then, she has racked up miles, and it currently reads 103k.
The car was financed though American Honda Finance.
2 weeks ago, the Auto Tranny died and the dealer said it would be all on her cost wise. Something to the tune of $1500 for a reman. So she called Honda corporate, and they told her that they'd review her case, and call her back.
A week later, a rep from American Honda Finance called and gave her this offer.
If my aunt were to return the car, AHFC would pay off the loan, and give her $500, of which she could use as a down payment on another vehicle.
For her, this was a great opportunity to get out of the 02 and into something newer without being upside down (she paid far too much for it).
She's now rolling in a 2008Accord LX-P Sedan of which she financed through Honda, and paid invoice for it.
I've never been so impressed with a car company and how they stand behind their products. This experience is exactly why I'm dedicated to the Honda/Acura brand.
Anyone else ever heard of Honda doing something like this?
