ED Magedson – Founder
David McDavid Honda1601 Dallas Parkway Frisco, Texas United States of America
Beware of the Vehicle Acquisition Program. An e-mail was sent to "Select Customers" for the purchase of trade-in vehicles. The dealer promised to purchase the vehicle for 125% of Kelley Blue Book. The transaction sounded too good to be true because generally dealers use Black Book, that is a lower value determined by auto auction results. I contacted James Warren and he confirmed the offer. Included in the small print is a reference to reconditioning costs and mileage. It should be noted that the Kelley Blue Book value already factored in the mileage impact.
Upon arriving at the dealership, the dealer did value the trade-in at 125% of Kelley Blue Book, but deducted $2,000 to replace the tires, $1,400 for Honda certification and $4,400 for mileage. As previously stated, the Kelley Blue Book value already incorporated the impact of miles. The $4,400 represented nothing more that profit. In regard to the tires, the Service Manager previously told my wife that the dealership sold the run flat tire for $325 a piece ($1,300), resulting in a profit of $700. The tires only had 22,000 miles on them. In addition, cheaper tires could be purchased, if required. Lastly, the $1,400 was a purported cost to obtain the Honda Used Vehicle Certification.
Deducting all of the costs, would have resulted in a value less than the Black Book that is generally used in the vehicle valuation. If I accepted their offer, I would owe the dealership $8,650 plus my vehicle for a new CRV. My vehicle was a 2007 Odyssey Touring model with low miles.
The program is not good for the consumer. We negotiated for two hours and I did not purchase a vehicle. Previously we purchased 2 vehicles from the dealership but I the terms I received were good.
I recommend (((competitor's name redacted))) in Lewisville, TX.
This report was posted on Ripoff Report on 02/09/2010 12:57 PM and is a permanent record located here: http://www.ripoffreport.com/r/David-McDavid-Honda/Frisco-Texas-/David-McDavid-Honda-Be-Aware-of-the-Special-Trade-In-Program-125-of-Blue-Book-Frisco-T-566819. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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