Honda Financial Services Customer Service
0If you have questions about your honda financial services customer service account or need assistance with payments, please contact your regional HFS office. You can also visit our FAQs to get the answers you need.
HFS is the auto financing arm of American Honda Motor Co. It offers auto financing for new and pre-owned Honda or Acura vehicles in the form of retail installment sales contracts and leases. Its primary products include automobiles, motorcycles, power equipment and a variety of related accessories.
The company also sells parts, service and finance packages for its customers. Its customer support team is available through phone, email or live chat on its website. Its online chat feature is a great option for those looking to avoid the hassle of calling or waiting on hold. The company is committed to providing high-quality customer service and has earned a reputation for being responsive and helpful.
According to the Department of Justice and Consumer Financial Protection Bureau (CFPB) complaint, Honda violated the Equal Credit Opportunity Act by allowing car dealers to mark-up borrowers’ interest rates by as much as 2.25 percent on the loans it originated through an indirect lending process. These dealer markups generate compensation for the car dealerships and gave them discretion to vary a loan’s interest rate from the price that Honda initially set based on objective, credit-related criteria. The resulting disparate pricing and compensation scheme caused thousands of African-American, Hispanic and Asian/Pacific Islander borrowers to pay on average, $150 to $250 more for their auto loans than non-Hispanic white borrowers.
As part of the settlement, Honda will pay $24 million to a fund that will compensate victims for their losses. The company will appoint an administrator to locate and distribute these funds at no cost to affected borrowers. The department and CFPB will make public an announcement and post information on their websites once the details of this victim compensation process become available.