I recently bought a car from Pearl Honda (Gurgaon). Initially I applied for Car loan (through the dealer), then I decided to make full cash payment. I consulted the dealer representative, I was clearly told that loan can be stopped and I can pay the cash.
I closed some of my Fixed Deposits (lost some interest because those were premature), took some term loans from some other sources to make this payment. Honda representative (Bhupesh) told me that he has discussed with his supervisor, his supervisor has confirmed that loan can be stopped and collected the check of full payment.
The dealer has already cashed the check. Now I am being told that Loan also has been disbursed. The loan Institute has started collecting Installment from by Bank account. The dealer wants to return my check, I will loose my interest because of premature closure of FDs and interest on term loans if I take back my cash amount. Instead I want the loan should be stopped as originally communicated to me, all the money collected by loan Institute to be returned to me.
All actions from my side were based on communication/commitment with/by the Honda dealer representative.
I have already logged my concern with Honda One 2 One (reference 100800203) on 7th Oct, but still the issue is pending.
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