Potamkin Honda NYC Complaint - How Potamkin Honda Of NYC Pulled A Fast One On Me
NEW YORK, NEW YORK -- In December of 2006 I leased a fully loaded Honda Accord. By fully loaded, I mean it was the top of the line and best Accord in the market. Leather seats, V6 engine, moon roof etc. My mileage cap was at 12,000 miles per year. Not something I thought I would go over, given that I took public transportation to commute into the city. This all changed when I got married and my wife began to use the car to commute to her job as a teacher in Connecticut. I started to get nervous about how our mileage limit was fast approaching. Knowing how hard it is to get out of a lease and not wanting to have to pay thousands of dollars in extra fees, I started looking at my options. I contacted Honda dealerships all over my area asking for my options. I received a reply from Potamkin Honda in NYC saying that “It is very possible that you can trade in your Accord. We would have to appraise your vehicle in order to get a trade in value. Would you be able to stop by this week?” The only time I was able to stop in was the same day, so off I went to Potamkin.
At Potamkin, I met a very friendly salesman and we focused on purchasing a 2007 Honda Civic with 30,000 miles. The price was $1595, which sounded a bit high for a Civic, but I was told it included a 100,000 mile guarantee and they would take care of my leased Accord. If I would have looked up the value of a 2007 Honda Civic with 30,000 miles, I would have seen that the blue book value of it is approximately $11,500. I could have purchased a brand new 2009 Honda Civic DX for $15,405.
As I was sitting down at the salespersons desk and going over the paperwork, we agreed on putting $6,000 as a down payment. He offered $2,000 on my credit card and $4,000 by check. Before I was even able to blink, my credit card was swiped. I was caught up in the whole aura of the experience that I did not have the time to think everything through. The idea of purchasing my Accord and financing it had come up, but was quickly dismissed by the salesman as “not making sense”. Everything seemed perfect and it looked like I was making a good deal. This fact was constantly reinforced by everyone I met in the store, from the sales manager to a mechanic, to the finance manager. I was sure I was getting an awesome deal. But I was dead wrong. The only people getting an awesome deal were the folks at Potamkin Honda.
My last step was at the finance manager’s desk who was able convinced me to shell out an extra $1600 for some type of further warranty. I did not fully understand what he was talking about, but I went ahead with it anyway because he made it sound good.
The complete sales bill came out to over $23,000 for a 2007 Honda Civic with 30,000 miles. I was forced to finance approximately $17,000 of it at 6.4% interest. I was told that since my credit score was in the top tier, I was receiving an awesome deal.
After going home and thinking about what transpired, I realized what a horrible deal was just done. I was completely scammed into the purchase by smooth talking sales people. You can not compare the value of a 2007 Honda Accord fully loaded with 23,000 miles to a 2007 Honda Civic (not fully loaded) with 30,000 miles. It’s just not comparable. I will admit that the Honda Accord had scratches on and needed some body-work. I had received an estimate for the bodywork to be $1,500.
When I contacted Potamkin the next day, I was again given to various smooth talking people who’s attempt to convince me that I made a good deal was dismal. They know what they did and did not have any answer to my above claims, other than bringing up the 100,000 mile warranty plus the great mileage on the civic.
Shame on Potamkin Honda!