1995 Honda Accord Ex Sedan 4-door 2.7l on 2040-cars

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Honda finance to pay $24M for discriminatory lending practices

Honda has found itself in hot water in the United States over allegations of discriminatory lending practices. However the Japanese automaker's American subsidiaries are taking actions to not only alter its practices, but compensate the victims of such past discrimination. According to the Consumer Financial Protection Bureau, some Honda dealers were found to have offered less preferential loans to customers of African-American, Hispanic, Asian, and Pacific Islander ethnicities than they have offered to white customers, irrespective of their individual financial situations. The American Honda Finance Corporation has allowed dealers to mark up individual loans by two percent or more, depending on the length of the loan's contract, thereby opening the door for dealers to set interest rates at their discretion. And that discretion, according to the CFPB and the Department of Justice, has been applied in a discriminatory fashion, in violation of the Equal Credit Opportunity Act. Honda, for its part, refutes the allegations and maintains that its practices have not been racially or ethnically discriminatory. The company is nevertheless taking measures to address the charges. For one thing, Honda's US financial arm is reducing the amount of wiggle-room it gives its dealers to only 1.25 percent above the buy rate for short-term loans (5 years or less), and one percent for longer-term loans. It has also set up a $24-million fund to compensate victims of the alleged discrimination, coordinating with the CFPB on the dispersal of said funds. The CFPB reports that "because of Honda's responsible conduct," it is not seeking penalties to be levied against the company for the alleged discrimination. STATEMENT BY AMERICAN HONDA FINANCE CORPORATION RE: Settlement with the Department of Justice and Consumer Financial Protection Bureau Jul 14, 2015 -- American Honda Finance Corporation (AHFC) has reached an agreement with the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) that shows our commitment to work together to be part of the solution and to establish the path forward that best supports our Honda and Acura customers and dealers with clear and convenient financing options. AHFC strongly opposes any form of discrimination, and we expect our dealers to uphold this principle as well. We firmly believe that our lending practices have been fair and transparent.

2017 Honda Ridgeline: Not a 'youth truck'

When the Ridgeline debuted back in 2006 I predicted it would be a game changer, that it would shake up and redefine the truck market, much like Honda's CB750 four-cylinder motorcycle redefined the big bike market back in 1969. Boy was I wrong. Or perhaps more accurately stated – hang on, because I still think it could happen with this new model. Maybe not to the same degree of the CB750, but I definitely think this gen-two model has the right stuff to make truck buyers give it a second look this time around. Also, the truck market has changed over the last decade. People have had a chance to see the Ridgeline in action, and many have come to the conclusion that, used as intended, it's really not so bad. ...And then look what's happened to the commercial van market: Euro-style vans – which are dramatically different from Detroit-style vans – have virtually taken over that market segment. Typically conservative truck buyers have shown that they are willing to accept new thinking – if they prove to be better mousetraps. In the last 10 years, Honda – and specifically Honda marketing – has learned a lot about what worked and what didn't work with the gen-one model. Yeah, it barely sold, but those who bought the truck absolutely loved it. So Honda was indeed on to something. The problem was not enough people knew about it. I blame Honda corporate and their marketing department squarely for that. After the initial customer reluctance, Honda gave up on it. There was virtually no money spent on advertising this truck. It literally died on the vine because it wasn't watered. Also, there were a number of factors going on here not specifically related to the Ridgeline. Honda, the corporation, was in a severe crisis. Sales were sliding, many of its products disappointed, and the styling of many of its vehicles was polarizing. Also, the Acura division was in a free-fall. In short, Honda had lost its mojo; and as such, money and efforts were re-diverted to righting the ship, and marginal models (Ridgeline) were abandoned in terms of promotion; or just abandoned, period. So here we are now in 2016. Honda has been in the process of exorcizing all the evil from it's products, and is again showing signs of life. They have a slew of new vehicles that look good and are getting good if not excellent reviews, and a new Ridgeline is soon to hit showrooms. The Honda mojo is back. This time around there is no attempt to hide its parentage.

Honda expands Takata airbag recall to 5.4M units in the US

While Honda already announced plans to take its front driver's side Takata airbag inflator recall nationwide, the automaker has now officially reported on the number of affected vehicles and the specific models in need of repair. The expanded campaign covers an estimated 5.4 million units across the US, including those already being fixed under the previous regional actions. That number is an expansion of the five million units initially reported by NHTSA. The affected models under the nationwide recall are the 2001-2007 Accord with a four-cylinder engine, 2001-2002 Accord V6, 2001-2005 Civic, 2002-2006 CR-V, 2003-2011 Element, 2002-2004 Odyssey, 2003-2007 Pilot, 2006 Ridegline, 2003-2006 Acura MDX, 2002-2003 TL and 2002 CL. For customers who expressed concern about their vehicle's safety, Honda had already been replacing the inflators nationwide. It's possible for the inflators in these vehicles to rupture when inflating the airbag, spraying metal fragments at occupants. This problem has been blamed for at least five deaths worldwide and at least 139 reported injuries. In its statement, Honda said that it worked with Takata to test the recalled inflators in the original high-humidity recall regions, and there were no abnormal deployments in these evaluations. Honda will begin notifying owners by "over time," according to its statement. Priority will be put on the geographic areas with the highest risk of ruptures. Those in the original recall region were contacted in September. Earlier in December, Honda partnered with Autoliv to supply the automaker with replacement inflators for this campaign. Autoliv predicted it would take six months for deliveries to start. Takata also increased its production of substitute components. Scroll down to read the company's announcement of this nationwide expansion. Statement by American Honda Regarding National Safety Improvement Campaign: Driver's Front Airbag Inflator Supplied by Takata Dec 8, 2014 - TORRANCE, Calif. Honda will voluntarily expand a regional Safety Improvement Campaign initiated in June 2014 (NHTSA No. 14V-351) into a national Safety Improvement Campaign affecting certain 2001 through 2011 Honda and Acura vehicles in the United States to replace the driver frontal airbag inflator, free of charge. Honda is expanding this Safety Improvement Campaign to address concerns raised by its customers whose vehicles were not included in the regional campaign.