B
beckymc
Guest
We bought a new Honda motorcycle in Az in July, 2000. After doing year-end tax work I realized the loan they secured for us was really a credit card. I called the bank and asked why a credit card? The bank rep said it was unusual and if we qualified for a credit card with over a 10,000 limit we would have surely qualified for a regular loan of 7500.00. We were also told in order to get a 'decent' interest rate we had to buy the optional warranty package. The interest rate we ended up with is an interest rate of 12.99 good for only 24 months. Looking back at the original contract the interest rate information is in tiny, tiny print at the bottom. We had no idea we were getting a credit card but thought we were getting a regular loan. I know we should have asked questions then but we had purchased other vehicles (outright purchases) from this dealer before and we assumed everthing was on the 'up and up'. Do we have any recourse?