Megatran:
i purchased my car on October 14 from Acura of Rochester. I had narrowed my search down to two cars, one at Acura of Rochester and the second from a dealer in the Chicago area. The dealer in the Chicago area is the one who quoted me the $7500 minimum finance amount and no penalty for early payoff. Acura of Rochester stated that there was a 30k finance minimum and that there might be a prepayment penalty. I went for the one in Rochester even though the dealer in Chicago agreed to sell at the same price and transport the car to me at no extra cost. I just didn't want to chance the car being damaged in transit. Anyway, when i signed the papers for my car, at Acura of Rochester, there was an additional paper that they required me to sign stating that if i paid off early, I might have to reimburse the $30k. The document says 'may', not that I 'have' to reimburse. Unfortunately, I had some time constraints the day I picked up my car and I was in a hurry to get done with the paperwork and get started on my 3 hour return trip home. So, I didn't pay attention to who had written the addendum about early payment. I assumed it was an Acura Financial requirement.
About a week ago, Acura Financial called to say thanks for financing with them, ask how the transaction went, etc. So, i asked about prepayment penalties. The woman on the phone told me Acura Financial never imposes prepayment penalties and if I pay off early, I'd save interest. I asked if she was sure there were no penalties for prepayment on the NSX. She put me on hold, checked with her supervisor and told me her supervisor confirmed that they never penalize for prepayment. It was at that point that I pulled out the addendum and noticed that it was from Acura of Rochester, not Acura Financial. Had i not been in a hurry to get on my way when I picked up the car, hopefully I would have noticed that fact and refused to sign . I need to have my attorney look at the addendum and see if it's legally binding since it says 'may' be required to reimburse not 'will' reimburse.
Anyway, at this point, I'm inclined to think that the dealer in Chicago was telling the truth. The minimum finance amount is $7500 and there is no prepayment penalty. Acura Financial confirmed that to me. I'm going to guess there is some type of dealer kickback or incentive that the dealer realizes at 30k financed that is either greater or non-existent at 7.5k and that there is either more cash or more incentive if you don't prepay. That's just my guess and hopefully my bad experience will help make you a more informed buyer than I was.
