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I am getting closer to pulling the trigger on an MS6, and would like to take advantage of the $1000 from MAC, but I have seen some of the ridiculously high apr's they have been quoting people, and I'm not sure if I even want to waste my time with them. So, if you have been quoted an APR from them in the last month or so, what did they offer you?

Thanks!
 

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I am getting closer to pulling the trigger on an MS6, and would like to take advantage of the $1000 from MAC, but I have seen some of the ridiculously high apr's they have been quoting people, and I'm not sure if I even want to waste my time with them. So, if you have been quoted an APR from them in the last month or so, what did they offer you?

Thanks!
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Or so = 4 months. 2.9% / 60 months.
 

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^^^Wow, they offered you 2.9%/60 months? That's awesome! They offered me 7.9%/60 months, which I was inclined to take only because of the $3500 rebate that came with it. I was told in order to keep the rebate, you only have to make 3 payments, and then you can refinance, which is what I plan on doing shortly. I bought the car about 2 1/2 months ago.
 

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^^^Wow, they offered you 2.9%/60 months? That's awesome! They offered me 7.9%/60 months, which I was inclined to take only because of the $3500 rebate that came with it. I was told in order to keep the rebate, you only have to make 3 payments, and then you can refinance, which is what I plan on doing shortly. I bought the car about 2 1/2 months ago.
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LIARS!!!

You can refinance right away!
In fact, I paid off my MAC loan 10 days after purchase (without any penalty)!
I got my $3,500 credit on purchase and it took 10 days for MAC to get me a loan number, so that I could pay it off. The following week I got the lien release.

You need to keep the MAC loan for 90 days in order for the Sales Rep to get his/her $300 commission!

:nana:
 

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You need to keep the MAC loan for 90 days in order for the Sales Rep to get his/her $300 commission!
:nana:
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So that whole, "you have to wait 3 months to refinance is just bull$hit so the sales rep gets commission?! As long as it's only going to cost me an extra $5 to $10 a month, I suppose I'll just wait and let him get his commission (as he was good, and that's probably how he makes most of his money); however, they should be up front about it and just ask people to hold onto MAC for 3 months...course, i doubt they mention refinancing to anyone who doesn't bring it up first.

Mazda City of Orange Park offered me like 9% interest (with my dead average credit) at first; however, when I came back and talked them down another $1500, my interest went up to like 10%. I'm refinancing in about 60 days and counting.
 

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With the way interest rates have been dropping lately, better deals are in the pipeline. Downside is the bond market seems to be anticipating a recession.
 

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I just got mine last month. They gave me about 9.5%. I was with a good friend of the financer when I did mine. It's not that the sales rep doesn't get comission if you don't wait. And by the way, it's not necessarily 3 months, it's apparently 3 payments but I don't necesarily know if you can just give them 3x payments right off the bat and have it work out.

What she was saying is that the dealer gives you the $1000 off. Then after you make the 3 payments, Mazda gives the dealership $1000. If you don't make the payments, you're not screwing your salesman out of 300 bucks, you're screwing your dealership out of $1000.

My bank offers an APR of 5.50 and it turns out that they take an additional .25% off if you REfinance as opposed to start a financing plan with them. But anyway, a piece of advice, if you're going to take out financing with Mazda and then refinance, if 60months and 72 months is the same APR, take 72 months. Your payments will be less for those first 3 payments and then you're ditching them anyway.
 

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Interesting to see that the financing has stayed about the same as when I bought mine back in July. I got mine at 2.9% for 60 months, then used my down payment to pay off the wife's Murano which was financed at 4.9%.
 
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Hopefully (for everyone elses sake) I have the higest rate... 10.69%!! They sold the car $8000 off sticker - $3500 factory, $4500 dealer. They said the car can be paid off (or refinanced) after making one payment to mazda. The only penality is a $15 processing fee.

Good luck.

BTW - My credit score was in the high 700's. Can imagine what the rate would be with bad credit.
 

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Hopefully (for everyone elses sake) I have the higest rate... 10.69%!! They sold the car $8000 off sticker - $3500 factory, $4500 dealer. They said the car can be paid off (or refinanced) after making one payment to mazda. The only penality is a $15 processing fee.

Good luck.

BTW - My credit score was in the high 700's. Can imagine what the rate would be with bad credit.
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My score was high 700's and they gave me 10.69% too.
 

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I think you jsut got screwed, lol. My score is 695 and I got 8.99 from Mazda credit.... of course i went with 6.75 from my credit union :)
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Yeah, I know their rate was ridiculously high for my credit but since I'm re-financing anyway, it doesn't really matter. $1000 > $100ish or so more interest that I pay before I re-fi.
 

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^^^Wow, they offered you 2.9%/60 months? That's awesome! They offered me 7.9%/60 months, which I was inclined to take only because of the $3500 rebate that came with it. I was told in order to keep the rebate, you only have to make 3 payments, and then you can refinance, which is what I plan on doing shortly. I bought the car about 2 1/2 months ago.
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Correct me if I am wrong, now you are refinancing on a used car where the rates suck.
 

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I just got mine last month. They gave me about 9.5%. I was with a good friend of the financer when I did mine. It's not that the sales rep doesn't get comission if you don't wait. And by the way, it's not necessarily 3 months, it's apparently 3 payments but I don't necesarily know if you can just give them 3x payments right off the bat and have it work out.

What she was saying is that the dealer gives you the $1000 off. Then after you make the 3 payments, Mazda gives the dealership $1000. If you don't make the payments, you're not screwing your salesman out of 300 bucks, you're screwing your dealership out of $1000.

My bank offers an APR of 5.50 and it turns out that they take an additional .25% off if you REfinance as opposed to start a financing plan with them. But anyway, a piece of advice, if you're going to take out financing with Mazda and then refinance, if 60months and 72 months is the same APR, take 72 months. Your payments will be less for those first 3 payments and then you're ditching them anyway.
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I was told this exactly by a reputable salesperson 3 states away from me. My rate was 8.9 and he admitted that they are higher, but what can you expect with a $1000 rebate. So what if they make some commiss on selling the loan, you save mad money. I will refinance in 90 days because that's what my dealer told me. I figured the difference in payment and the interest paid over 90 days will knock it down to about $750-800 rebate, but it's still worth it.
 

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seriously, it amuses me when someone says "i'm a good friend of the finance guy".. blah blah blah

the whole thing as you can tell thru this thread, EVERY SINGLE SALES/FINANCE guy at a dealership LIES. or is misinformed.

think about it this way: if you're scared about MAC, read the MAC contract. there is no payoff penalty because it isn't stated. you're borrowing money. if you "borrow money" via credit card in the form of purchases, they've already sent you a terms of agreement stating what happens if u don't pay.. etc etc.

i had a high 700 credit score and got 9.09% i paid it off in the first payment. they also told me 90 days/3 payments.. or else they'll charge back the $1000. i called and they said there is no payoff penalty. call them, read the contract YOU signed and you have no questions.
 

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I was offered 0% for 36 months, 1.9% for 48 months or 2.9% for 60 months OR $2,500 rebate with my own financing or $3,500 if I finance through MAC. They ended up beating my credit union rate of 6.1% with 6% (actually 5.99% I think), so I financed through them and took the $3500 off.

From what I gather, you need a 750 credit rating or better their interest rates and they will only match other interest rates if you are over 800.

My best deal was on my Jeep, 0% financing for 48 months and $2900 in rebates. Wish I could have gotten that with this...
 

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In late Oct. (in CA) I was offered and took 8.99% for 60 months with a low 700 score (a bit extended for the moment :sarc: ).

The finance guy was informed and honest and, in general, the dealer treated me pretty well. He let me know that I could, in fact, pay off the loan immediatly w/ no penalties but that they would appreciate me making three payments so that the $1000 rebate wouldn't get charged to them by Mazda. Not a big deal for me to do, and I very much appreciated their frankness and honesty, esp. after dealing w/ the dealers out here in Vegas. So I'll make the tres payments, refi, and move on.

...and for comparison's sake, please try to post/edit in the month you were offered your rate, as rates do change no matter what your score is, and a rate w/ out a date is basically useless for this thread. Thanks!
 

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seriously, it amuses me when someone says "i'm a good friend of the finance guy".. blah blah blah

the whole thing as you can tell thru this thread, EVERY SINGLE SALES/FINANCE guy at a dealership LIES. or is misinformed.

think about it this way: if you're scared about MAC, read the MAC contract. there is no payoff penalty because it isn't stated. you're borrowing money. if you "borrow money" via credit card in the form of purchases, they've already sent you a terms of agreement stating what happens if u don't pay.. etc etc.

i had a high 700 credit score and got 9.09% i paid it off in the first payment. they also told me 90 days/3 payments.. or else they'll charge back the $1000. i called and they said there is no payoff penalty. call them, read the contract YOU signed and you have no questions.
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I'm glad you're amused and you have no clue what my relationship is with that finance person. I never said there was a payoff penalty. I also never said you had to even pay the 3 payments. You could refinance the second you walked out the door and not pay any payments at all. And then by saving yourself about 200 bucks, you just ripped off your dealer by $1000. I'd rather not be a dick and rip off the dealership that's going to be doing my service.
 

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they also told me 90 days/3 payments.. or else they'll charge back the $1000. i called and they said there is no payoff penalty. call them, read the contract YOU signed and you have no questions.
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So the dealer told you (or asked you) to make three payments or else they (the dealer) get charged back the $1000. from MAC, right? Who did you call (MAC)? and did they (MAC) say no pre-payment penalties? I know that is what the retail installment says. My question is there anything in writing at the DEALER that says you must make 3 payments or you are liable. I don't remember signing anything nor did I receive anything in writing at closing. Did anybody here sign anything at the dealer saying they agree to make 3 payments? Or is this all a dealer ploy to get a commission from MAC, and there is no MEAT to the request and the dealer really has no recourse. Any lawyers here?
 
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