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Discussion Starter #1
Couldn't be happier! I took the MAC financing/rebate at 8.9% 72mos. You must keep it 90 days to keep the dealer from getting charged back the $1000. I have it approved through my credit union for 5.0% for 72mos. My payment will be $7 more than my 0 package 06 GTI.
 

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Congrats and great color choice!

I got 2.9% I think from MAC as a special, but that was 3 months ago.
 

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Cool, So you went with the white one eh. Congrats
 

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72 months is a lot, but congrats on your new purchase. 5% from a credit union is pretty good.
 

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Couldn't be happier! I took the MAC financing/rebate at 8.9% 72mos. You must keep it 90 days to keep the dealer from getting charged back the $1000. I have it approved through my credit union for 5.0% for 72mos. My payment will be $7 more than my 0 package 06 GTI.
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My dealership told me the exact same, had to make three payments before paying off balance or the dealership would send you a bill for the remainder.
 

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I got mine paid for upfront. $19,000 for a Gt with the trade-in value of 3,500.

MAC is really horrible. don't go with the 8.9% get rid of it now.
 

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MAC is not really horrible at all. It's the best rate you can get without going through a credit union. I went through MAC for my 6s now whenever I go through MAC in the future, the dealer will waive those stupid fees.
 

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Discussion Starter #10
If someone can prove to me that they don't get charged back for me paying it off before 90 days, I'll do it. You never know if someone is lying or not. I also wonder if they just lose credit for selling the financing and that is their real motivation. You don't get a great rate and rebate from MAC right now. 5.0 for 72 mos is awesome for a non-manufacturer financial institution.
 

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I'm not entirely sure, but if you are doing this simply for the 1000 cash back, don't. The interest on the three months is so high you'll owe close to 900 dollars, its not worth it.

What that means, is that MAC is simply doing this to actually trick people.

Ditch MAC and go with that other financial institution, 5% is an decent find for a non-dealer institute.
 

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I'm not entirely sure, but if you are doing this simply for the 1000 cash back, don't. The interest on the three months is so high you'll owe close to 900 dollars, its not worth it.

What that means, is that MAC is simply doing this to actually trick people.

Ditch MAC and go with that other financial institution, 5% is an decent find for a non-dealer institute.
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Listen to them, they are absolutely right. :yesnod: 5% is a solid. I work in this industry and I see MAC's schemes ALL the time. If you're offered a rebate vs. a low rate, take the low rate period.
 

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Discussion Starter #13
I just talked to a personal friend who said if I refinance with my credit union before 90 days, they get charged back. That $1000 ends up being about 950 or so by the time you figure the interest difference between 8.9 and 5.0 for 3 months. My payment will go from 426 to 380.
 

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I just talked to a personal friend who said if I refinance with my credit union before 90 days, they get charged back. That $1000 ends up being about 950 or so by the time you figure the interest difference between 8.9 and 5.0 for 3 months. My payment will go from 426 to 380.
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Your math is way off! If you borrow 20k at 8.9% you will pay less than $150 in interest per a month.... at 3.9% differential you are giving MAC about $65 a month!

If you have some cash handy or have a HELOC: repay all but about 110% of your monthly payment worth in the first period, then make your regular payment during the 2nd period and finally pay 10% for your last payment. You will probably end up paying less than 1% of the total loan in interest yet get to keep $1k in rebates! They did not tell you you had to keep the WHOLE amount outstanding for the whole period, did they!!??!

I am not sure what the MAC rules are but the dealer is certainly getting a kickback for MAC financing so if you pay it out too quickly they will not get a penny from MAC.
 

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I financed through MAC and got the 1000 dollar rebate. When my first payment came in the mail I paid it in full. That was 2 months ago or so.
Got my title free and clear no other notices in the mail or calls from the dealer
 

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i canceled my MAC 4 days after i got the car. no charge backs.. call them there is no penalty. the loan has no early payment penalty. SO if its not on the contract, they got nothing on u.
i got the same BS line.. cancel after 90 days.. etc etc
 

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i canceled my MAC 4 days after i got the car. no charge backs.. call them there is no penalty. the loan has no early payment penalty. SO if its not on the contract, they got nothing on u.
i got the same BS line.. cancel after 90 days.. etc etc
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That makes sense: once the loan is processed there is really nothing that a dealership can do :nana: unless you signed something that promised them to keep it open for some period. What are they going to do: take you to court? :nono:

However, the stealerships will tell you a tall story in order to get a kickback from MAC on the back end of the deal! I am sure that payment is tied to your loan staying open with MAC...
 

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I got mine paid for upfront. $19,000 for a Gt with the trade-in value of 3,500.

MAC is really horrible. don't go with the 8.9% get rid of it now.
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So you basically paid 22500? the reason I ask this is b/c I trying to get a quote from my dealer.
 

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cancel the 8.9 NOW. u don't need to wait 90 days. [/b]
I agree, i refinanced my 6s thru my credit union even before the first payment was due, no chargeback to anyone. i made quite sure of that before signing the MAC loan, as I had no intention of keeping an 8.5% loan, only took it to get the $1000 rebate.

Unless MAC has changed the details of their rebate offer someone is misleading you with the 90 day requirement.
 
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