Business ProfileforPerformance Kings Honda

I believe that the Performance Kings Honda used dealership, in particular the finance department, operates under a deceptive and misleading practice of not disclosing the results of a promised interest rate search of 30 lenders. George was the finance associate's name. The Sales Associate on Saturday 11/25/23 multiple times indicated that the dealership searches 30 lenders for the "best" finance rate. This purchase transaction included a significant down payment of over 30%, approx. $8,000 on a 2022 (1-year old) vehicle. The initial sales quote ran a payment at 9.50% for purposes of showing a payment amount, and promised a more favorable rate could be obtained among 30 lenders searched when I stated the rate was higher than desired, especially for the downpayment being offered. When the Finance department came up with a rate over 10%, I again requested a better rate, given the transaction specifics. I failed to request to view rate quotes in the "30" lenders that I was told would be searched, but George did not offer any other finance options despite my stated dissatisfaction with the quoted rate, newer vehicle, large down payment and optimal credit score. I in fact mentioned ***** as a resource. George did not offer to take a deposit and hold the vehicle while we searched for a more favorable rate and return to complete the deal, certainly the more customer friendly avenue, but one that no doubt denies the dealership an additional, UNDISCLOSED kickback/finders fee. Within 1 business day, I was offered a rate of 6.99% over the phone based on the year of the vehicle, low mileage, down payment and estimated credit score. If this is the way that every sales/finance transaction is handled, it is in effect a Bait and Switch practice since there is no disclosure to the buyer, of the "30" lenders searched for the "best rate" as promised by the sales associate, then overpriced by the finance department.