Congrats and great color choice!
I got 2.9% I think from MAC as a special, but that was 3 months ago.
I got 2.9% I think from MAC as a special, but that was 3 months ago.
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.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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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.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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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!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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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: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 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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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.cancel the 8.9 NOW. u don't need to wait 90 days. [/b]