by scottrosado
Thu Aug 20, 2015 8:44 pm
Hello All,
A friend of mine asked me to post this warning as he knows I frequent this site.
Back in July of this year he leased a new Honda, as he has done for the past 15 years. When you lease from Honda, your payments are made to Honda Finance Corporation. He received a call a few days ago where a woman claimed that her firm has taken over his auto loan and effective immediately he was to begin making payments to them. Now bear in mind she did not formally introduce herself nor mention the name of the company she represents. Before my friend was able to get a word out she started asking him to provide his full name, address, date of birth, social security info and bank info for "verification purposes." My friend knowing this was a scam gave her all phony information. Once this was done he asked for the name of the company and when he should be receiving the first statement from them. Her response, "We're the finance company now holding your auto loan." When again he asked for the company name and for her name, she again reiterated quite angrily that "As I said, We're the finance company holding your loan and you will receive all the details shortly in the mail." My friend then came clean, told her the info he provided her was false at which she replied "Thanks for wasting my F----ng Time!!" and then slammed the phone down. It's important to also note the caller id stated caller unknown. It's important for you to know that first off, if you lease a car and pay all the initial costs out of your own pocket (down payment, motor vehicles, etc.) then you do not have an auto loan. A lease is not a loan. A major auto corporation such as Honda does not "sell" your lease to another company. Honda technically owns the car until either you return the car once your lease period is up or if you decide to purchase the vehicle. Some companies will sell certain types of loans such as a mortgage for example but if they do, they notify you via mail that your loan has been sold, whom they sold your loan too, and the effective date that your loan now belongs to the new holder. The new holder would also have all of the necessary info such as your name, address, etc., they wouldn't call you to ask for this info. You would also receive via mail a letter from the new holder detailing the info you need. Please never give out info to anyone, especially over the phone.
A friend of mine asked me to post this warning as he knows I frequent this site.
Back in July of this year he leased a new Honda, as he has done for the past 15 years. When you lease from Honda, your payments are made to Honda Finance Corporation. He received a call a few days ago where a woman claimed that her firm has taken over his auto loan and effective immediately he was to begin making payments to them. Now bear in mind she did not formally introduce herself nor mention the name of the company she represents. Before my friend was able to get a word out she started asking him to provide his full name, address, date of birth, social security info and bank info for "verification purposes." My friend knowing this was a scam gave her all phony information. Once this was done he asked for the name of the company and when he should be receiving the first statement from them. Her response, "We're the finance company now holding your auto loan." When again he asked for the company name and for her name, she again reiterated quite angrily that "As I said, We're the finance company holding your loan and you will receive all the details shortly in the mail." My friend then came clean, told her the info he provided her was false at which she replied "Thanks for wasting my F----ng Time!!" and then slammed the phone down. It's important to also note the caller id stated caller unknown. It's important for you to know that first off, if you lease a car and pay all the initial costs out of your own pocket (down payment, motor vehicles, etc.) then you do not have an auto loan. A lease is not a loan. A major auto corporation such as Honda does not "sell" your lease to another company. Honda technically owns the car until either you return the car once your lease period is up or if you decide to purchase the vehicle. Some companies will sell certain types of loans such as a mortgage for example but if they do, they notify you via mail that your loan has been sold, whom they sold your loan too, and the effective date that your loan now belongs to the new holder. The new holder would also have all of the necessary info such as your name, address, etc., they wouldn't call you to ask for this info. You would also receive via mail a letter from the new holder detailing the info you need. Please never give out info to anyone, especially over the phone.