After e-mail communication with the Stephen Wade Honda dealership, we made an appointment and traveled 50 miles to see the car. The car was well presented and the test drive went well. We went inside to close the deal. We were planning on paying cash and driving the car home. It should be simple, right?
Not at Stephen Wade.
The salesman opened with that they have the car listed at $1100 more than the price listed on their website. When questioned, the salesman mumbled something about the lower price was the "Internet" price. He said they'd honor their posted internet price (gee, thanks) but let me know that they had already come down $1100. Psychological move. Next, I was asked about payments and I said we would be writing a check for the car. I was told there is a $500 fee charged for paying cash (!!!). Dealers, I was told, make their money off of the Finance and Insurance, not the sale of the physical vehicle.
Next, I was shown figures for the license fee and the ever predictable Dealer Handling fee that together came to more than $500. Next was a fee to activate some mystery anti-theft device, a parking ding protection program, and some other program fee that even the salesman couldn't explain. "They'll explain it all in finance." These three worthless mystery program fees added up to exactly $1000.
Adding all of the fees , including the incredible $500 fee for paying cash, came to $2000 above their asking price.
Again, this is the Stephen Wade way.
I told the salesman "Here is my offer". I offered their full internet asking price plus $100 for the license fee. The sales manager answered he wouldn't charge the $500 for paying cash (Gee, thanks!) but he wouldn't budge on any of the other mysterious BS fees. We walked out without fanfare. wasted day, wasted trip.
Stephen Wade Honda, and I suspect all Stephen Wade dealers, make their money off of financing used cars for as long of terms possible at as high of interest as possible , and then rolling in thousands of dollars of worthless programs into the loan. They prey on people who are financially gullible and strapped for cash, but need transportation.
Do not support them. I hate car dealers.