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I bought my car 4 days ago. I took the $500 MAC cash for financing through Mazda American Credit. The dealer told me that if I got a loan through another bank before 120 days, I would have to pay a penalty to MAC. I contacted MAC and asked them if I paid off the loan (which is what you're doing if you finance through someone else) do I have to pay a penalty? They said no, you absolutely do not.

Apparently the dealership get's a kick-back from MAC if their customers keep the loan there for 120 days. So the dealership is lying to people telling them to go through MAC for 120 days, then refinance through the dealership's bank at a lower rate (since the dealership get's a kickback from the bank if their customers finance a loan through the bank also).

Anyone had this same lie used again them? Just curious.....
 

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Yes, this has been discussed many times. Many members have had this same thread on the board. Look around and you'll see. Many finance guys at dealers will tell you this for that exact reason.

I'm going to lock this simply for that reason. This is not meant to offend, but to keep other topics higher on the first page. Thanks!
 
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