2008 Honda Civic Hybrid 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.

Driving the Honda Pilot TrailSport, Alfa Romeo Giulia and BMW 760i | Autoblog Podcast # 786

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick. They start the show by talking about the cars they've been driving. James took a road trip to Oregon in a Honda Pilot TrailSport, bringing along a Gazelle Ultimate 380+ e-bike. James also fell in love with an Alfa Romeo Giulia Lusso, while Greg enjoyed an executive experience in the new BMW 760i. Next, they discuss which car they'd buy in 1985 with a budget of $18,000, as well as their pick for a contemporary pickup truck for $50,000. They also interview Tyson Hugie, who purchased a 2006 Acura TSX from James and restored it. Finally, they open the mailbag for an update from a listener about a previous Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 786 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Honda Pilot TrailSport 2023 Alfa Romeo Giulia Lusso 2023 BMW 760i xDrive Here's $18,000. What would you buy in 1985? Here's $50,000. Which new truck do you buy? Interview with Tyler Hugie, who purchased and restored Riswick's 2006 Acura TSX Spend My Money update Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: 2023 Honda Pilot | Which trim should you choose?

2016 Honda Civic pricing leaked, starts at $19,475

You're going to get a whole load of 2016 Honda Civic information very, very soon. As a teaser, take a look at this pricing information on Honda's latest compact sedan, leaked by the folks at the civicx.com forums. As you can see, both invoice and retail pricing is included in this dealer ordering guide, and, assuming it's all legit, it looks like Honda has done a very good job of keeping its 2016 Civic competitive with its rivals in the compact segment. At the low end, a 2016 Civic LX with a 2.0-liter four-cylinder engine and six-speed manual transmission will cost $19,475 (including an $835 destination fee). That's a $150 increase from 2015. Considering that the new car is larger and more powerful than it was last year, that small additional cost initially strikes us as reasonable. If you want an automatic, in this case a continuously variable unit paired to that same naturally aspirated base engine, you're looking at a minimum of $20,275. More good news comes in the form of the EX trim, which, at $21,875, is actually a little bit less than it was last year. Upgrading to the 1.5-liter turbocharged powerplant, which Honda promises will be the most powerful engine it has ever offered in a Civic not labeled Si, brings the asking price to $23,035. If you want leather and more bells and whistles, the Civic EX-L will start at $24,535. The Civic range tops out at $27,335 in Touring trim, assuming these leaked prices are accurate. We'll be able to confirm these prices, along with a whole heck of a lot more, on Monday morning. In other words, Civic fans, stay tuned. And get excited. Related Video: Featured Gallery 2016 Honda Civic Sedan News Source: www.civicx.com Honda Car Buying Sedan pricing