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My mom bought a Trib in March. She loves it..She can't stop driving it. I drive it around sometimes and it's really fun to drive I must admit. She has the V6 and that thing can move...
 

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Regarding the financing . . .

Take the extra 1500 rebate and finance w/ Mazda, regardless of the rate. Immediately turn around and refinance it with your credit union. The finance person at the dealership might try to tell you that you have to stick with the Mazda loan for 90 days or so, but that is just a line. If you call Mazda Credit, they'll confirm that there is no penalty for early payment.

If your credit union knows it is coming, you can still set up everything in advance with them. Their rate for the refinance may be slightly higher than their new car rate, but it will be more than offset by the 1500 reduction in price (plus the added reduction in sales tax).
 

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Originally posted by AzMz6@Aug 1 2005, 06:37 PM
heres our 05 tribute....its just the 2.3l (its more powerful than you think!!) with the leather interior...since we were upsidedown in the pt we traded in for it, she had the option of tricked out interior or, v6...since my wife is nothing about having a ton of power, she went for the leather...;)

btw love the hell out of our miny monster, great to drive, and sure has one hell of a nice interior. and the 2.3l has alot of power for being a little 4-banger! :)
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ha ha tony kinda looks like my garage..same color tribute and a 6...but the sedan is where you went wrong man.........take it back and get a wagon! :nana:
 

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Discussion Starter #25
Originally posted by Monk@Aug 2 2005, 09:35 AM
Regarding the financing . . .

Take the extra 1500 rebate and finance w/ Mazda, regardless of the rate.  Immediately turn around and refinance it with your credit union.  The finance person at the dealership might try to tell you that you have to stick with the Mazda loan for 90 days or so, but that is just a line.  If you call Mazda Credit, they'll confirm that there is no penalty for early payment.

If your credit union knows it is coming, you can still set up everything in advance with them.  Their rate for the refinance may be slightly higher than their new car rate, but it will be more than offset by the 1500 reduction in price (plus the added reduction in sales tax).
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Good idea, however you can only go 4 yrs on used car financing at my credit union, with a higher rate, and that makes the payment too much. The rate difference was such that it would've almost made up the difference also. So anyway, too late hehe, took delivery yesterday. $3k off was good enough! Now to get a motorcycle trailer and tow package.... :D

Guess I better teach her how to drive my MTX too!
 

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Originally posted by MZBuckeye@Aug 2 2005, 04:34 PM
Good idea, however you can only go 4 yrs on used car financing at my credit union, with a higher rate, and that makes the payment too much.  The rate difference was such that it would've almost made up the difference also.  So anyway, too late hehe, took delivery yesterday.  $3k off was good enough!  Now to get a motorcycle trailer and tow package.... :D

Guess I better teach her how to drive my MTX too!
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Good deal MZ, enjoy the Trib! And by the way GO BUCKS
 

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Originally posted by MZBuckeye@Aug 2 2005, 03:34 PM
Good idea, however you can only go 4 yrs on used car financing at my credit union, with a higher rate, and that makes the payment too much.  The rate difference was such that it would've almost made up the difference also.  So anyway, too late hehe, took delivery yesterday.  $3k off was good enough!  Now to get a motorcycle trailer and tow package.... :D

Guess I better teach her how to drive my MTX too!
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Both my credit unions consider any car less than a year old "new" when financing. If your particular one doesn't you could've just found another. But yeah, too late now I guess.
 

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Originally posted by MZBuckeye@Aug 2 2005, 06:11 PM
Goddamn right GO BUCKS!!

Class of '01 over here!

I hear tix for the Texas game are selling for $350 already without even a seat assignment :D
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Hell yes....class of '96 here & my wife is class of '99 (& '00 for Grad school)
 

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Originally posted by NoUse4Aname@Aug 2 2005, 07:53 PM
Both my credit unions consider any car less than a year old "new" when financing.  If your particular one doesn't you could've just found another.  But yeah, too late now I guess.
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Unless the difference is considerable, it may not be worth the time, trouble, and extra account on the credit sheet (which could lower your credit score for future purchases) to refinance after financing.
 

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Discussion Starter #31
Originally posted by ZoomZoom Diva@Aug 3 2005, 10:08 AM
Unless the difference is considerable, it may not be worth the time, trouble, and extra account on the credit sheet (which could lower your credit score for future purchases) to refinance after financing.
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Agreed. I'll get some pics up today, it's a really neat little truck.
 

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Originally posted by ZoomZoom Diva@Aug 3 2005, 09:08 AM
Unless the difference is considerable, it may not be worth the time, trouble, and extra account on the credit sheet (which could lower your credit score for future purchases) to refinance after financing.
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A paid off car loan could hurt your credit score? Can do all of that online in 30 minutes or less these days. I consider $1500 pretty considerable...
 

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Originally posted by NoUse4Aname@Aug 3 2005, 06:15 PM
A paid off car loan could hurt your credit score?  Can do all of that online in 30 minutes or less these days.  I consider $1500 pretty considerable...
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An extra entry of having two car loans in a short period of time (even if one is paid off in the process) can hurt your credit score... too many accounts opened in a time period and too many credit inquiries.

I am talking the difference between opening the loan with Mazda and keeping it with them (and thus getting the $1500) or by financing through Mazda (to get the $1500). The assumption that the credit union rate is significantly lower than what is offered through Mazda is not necessarily a safe one.

I got a better rate through a bank than what the credit unions offered (the deal when I was buying was a $1000 rebate for not taking 2.9% financing).
 

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Discussion Starter #34
I won't discuss exact numbers, but the credit union rate was almost 4% better than the Mazda rate.

And yes, absolutely, 2 car loans will hurt your credit score. Hell, you may not even get approved for the second one with the first one open. Either way, we've got the car at a great rate. No worries :D
 

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Discussion Starter #36
Oh absolutely. Nothing helps more than home ownership. That's my next target :D Gotta find something with garage space for both of these beauties :D

By the way thanks for the advice everyone. She LOVES the car, and I gotta admit, it is sweet looking. 100% better looking than the Ford Escape, with a better warranty and better rebates! I think we made the right choice. Hopefully it'll hold up well. I can't wait to tow my bike somewhere exotic (Lake Cumberland, Outer Banks, etc etc) on our next roadie.
 

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Originally posted by MZBuckeye@Aug 4 2005, 02:01 PM
I won't discuss exact numbers, but the credit union rate was almost 4% better than the Mazda rate.

And yes, absolutely, 2 car loans will hurt your credit score.  Hell, you may not even get approved for the second one with the first one open.  Either way, we've got the car at a great rate.  No worries :D
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I totally agree that in the case above that refinancing is most definitely worth it. When I was shopping, I did not find such a difference in rates (and J.P Morgan Chase actually beat the credit union rate by a tiny bit).

A good mortgage payment history is the leading way to build excellent credit. Home equity is also considered to be a great way to reduce risk for the lender.
 
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