DCH Academy Honda

April 2016: I leased a 2016 Honda CRV from DCH Honda, Old Bridge, NJ and was told by Joseph Guzzo, salesman that the money factor to lease was: 0.0080, calculated interest 1.9%. Then at the lease signing, things changed and the money factor climbed to 0.0015, calculated interest 3.6%. Unfortunately after the lease signing,I found the mysterious formula for calculating the money factor to interest: (Rent Charge/Lease Term)/(Adjusted Cap Cost + Residual) and that changes the money factor to 0.00329 with a 7.9% interest rate. Honda claims that interest rates are negotiable but not when you were lied to and believed the Business Mgr. Paul Papis when he stated that the money factor given to me by Guzzo changed because of my credit history, and he would not answer my repeated question as to the interest rate. Both DCH Honda and Honda Finance did a credit report (two reports for the same transaction). Same credit report but different outcomes when it came to both the money factor and interest rate. On top of this Mr. Guzzo (a dedicated salesman) offered to throw in both the Nitrofill $199.00 and Key Replacement $399.00 at no costs. Then Business Mgr Paul Papis charged me for both, and this I found out after signing the lease. I believe both NJ Consumer Fraud and the BBB would be interested in this.