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I live in New York and have excellent credit. I want to use the $1000 Mazda Credit rebate. The dealer is quoting me a rate of 8.75% for ALL terms. Seems high to me. Anybody know what the current "dealer buy rate" is? Thanks much :drive:
 

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I live in New York and have excellent credit. I want to use the $1000 Mazda Credit rebate. The dealer is quoting me a rate of 8.75% for ALL terms. Seems high to me. Anybody know what the current "dealer buy rate" is? Thanks much :drive:
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That is about average for someone with good credit. They can offer $1000 because they plan to make it back with interest. My credit is well above 700 and I got 10.69%. Just pay it off quick or refinance. Getting the $1000 is generally worth it.
 

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Mazda's buy rate starts around 7% if I remember correctly (I asked the sales manager for the finance book when I bought my car -- I used to work in car finance and wanted to see it for myself). If they're offering you $1000, you better believe they're getting it back somewhere.

They offered me something like 17% interest (my credit's shitty), but I ended up with 14 from Wells Fargo. Soon to be refinanced to a lower rate with another institution.
 

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Interesting. We waited until a week ago to buy a new car and were able to get 0.9% on a 2006. I find they generally offer these ind of deals at the end of the year to make room for the new model year. The 0.9% enabled us to get our 6 GT fully loaded as opposed to stock.
 

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Interesting. We waited until a week ago to buy a new car and were able to get 0.9% on a 2006. I find they generally offer these ind of deals at the end of the year to make room for the new model year. The 0.9% enabled us to get our 6 GT fully loaded as opposed to stock.
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Did you get the $2500 cash back? It states specifically that low APR financing is not available with the $2500 cash back.

Financing Start: 11/01/2006 End: 11/30/2006
.9% APR Term: 36 months Get Dealer Pricing
1.9% APR Term: 48 months Get Dealer Pricing
2.9% APR Term: 60 months Get Dealer Pricing
Restrictions $2500 Customer cash may not be combined with 0.9% - 2.9% APR.
Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.
 

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We didn't get the cash back but we knocked $3000 off the price of the car plus the 0.9% so I figure we saved about $5500 on the car over the regular interest rates. Considering the 06 and 07 are the same...why not!?
 

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We didn't get the cash back but we knocked $3000 off the price of the car plus the 0.9% so I figure we saved about $5500 on the car over the regular interest rates. Considering the 06 and 07 are the same...why not!?
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People asking about the high interest rates are generally not asking about the low APR offers, so it's comparing apples to oranges.
 

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We didn't get the cash back but we knocked $3000 off the price of the car plus the 0.9% so I figure we saved about $5500 on the car over the regular interest rates. Considering the 06 and 07 are the same...why not!?
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You paid $2500 more for the car to get that 0.9% rate. You are likely are paying as much per month as if you would have taken the $2500 cash and an interest rate of maybe about 9%.
 

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i just bought my car 2 days ago and they said over 720 is 8% . my score was 687 and i got 9.49%. its cool tho cuz imma refinance in a few months with a credit union.
 

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I got 6.9% through them with the 1000 back. I was 20 at the time, with as Good of Credit as someone 20 years old could get.

So it should be negotiable i think?
 

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I know Mazda goes by beacon score. They wanted to give me something high like 17% when I went, and my beacon score was in the low 600s. I ended up going with Wells Fargo for a good amount less.
 

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I live in New York and have excellent credit. I want to use the $1000 Mazda Credit rebate. The dealer is quoting me a rate of 8.75% for ALL terms. Seems high to me. Anybody know what the current "dealer buy rate" is? Thanks much :drive:
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I bought my MS6 2 weeks ago from Ferman Mazda in Tampa FL. I have a 700 beacon score and thier best finance rate was 8.35% for 72 mo. I confirmed this with Mazda American Credit since I already had a lease with them, I got the $1000 rebate on the car but I will wait 90 days to refinanace with my credit Union which they PRE-Aproved me for 5.00% financing for 72 mo.
I would suggest you do the same, shop around credit unions or other banks, find out how long you have untill you can RE-finance the car after you buy it (some banks only give you 90 days or even 120 days after the purchase date to re-finance as a new car loan) Take the Mazda deal if they are giving you some kind of rebate on the car and then Re-finance.

Hope this can help you.
Good Luck
 

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I bought my MS6 2 weeks ago from Ferman Mazda in Tampa FL. I have a 700 beacon score and thier best finance rate was 8.35% for 72 mo. I confirmed this with Mazda American Credit since I already had a lease with them, I got the $1000 rebate on the car but I will wait 90 days to refinanace with my credit Union which they PRE-Aproved me for 5.00% financing for 72 mo.
I would suggest you do the same, shop around credit unions or other banks, find out how long you have untill you can RE-finance the car after you buy it (some banks only give you 90 days or even 120 days after the purchase date to re-finance as a new car loan) Take the Mazda deal if they are giving you some kind of rebate on the car and then Re-finance.

Hope this can help you.
Good Luck
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+1 I about to buy a ms6 from my dealer(which is now a good friend of mine) and thats exactly what she says. I have a score of 714 and i finance from mac for 8.9 for 72, give it 90 days and refinance with a better place. I went around and got pre approved for a lower rate just like chris. It helps to get pre approved first so you know in the back of your head its going to be better in 90 days. Those incentives they give is worth biting your lip for 90 days.
 

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My beacon was pretty high a year or so ago, like 750. Is there somewhere in the MAC loan that says you must wait 90 days? If so, I wonder how much they're charging if anything, above the normal interest accrued for that time. My CU does 6.5 for 72mos.
 

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You do not have to wait 90 days. Dealers just tell you that to make sure they get their cut. If Mazda's check happens after you re-finance your loan, the dealer doesn't get as much money (or any at all?) for "selling" that loan to you. You won't see any difference.

As far as pre-payment, you have to pay $75 if you pay off the loan early. I assume this is for re-financing as well.
 

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Talked to a dealer out of state who confirmed the dealer actually gets charged back the $1000 rebate if the customer pays off the loan within 4 payments. They told me 90 days, so that's what I'll wait. I'm not going to shaft them, they took good care of me and played no games.
 

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I sure wouldn't shaft my dealer just because that's where I'll be getting any warranty work done and maybe some of the scheduled maintenance I don't do myself. Service dept. doesn't care too much for what goes on in sales but they may notice something like that. Is anyone getting a decent rate on a refi? The best I can find is 7.45% for 5 years with 760 credit score. I got 7.99% through Mazda so it will save some cash but only about $350 over the life of the loan. Unfortunately, I'm not a CU member.
 

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7.99%??? Jesus thats insane. I am glad I only have 0.0% :)
 
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