Am I getting a good rate? 2021 CX-5 Touring (Long Island, NY)

[Lipshun]

This is what the salesperson came back to me with. I live in Long Island, NY. Curious what everyone thinks. Or what I should ask for. He didn't mention the APR rate but it seems low. I may ask for 0% just to see if possible, I do have good credit. Curious on everyone else's experience and what they paid if they live in the general area.

Thanks

Financing costs
Car $29,900+Tax 8.625% $2,578.87+DMV $97.50+ Transfer Plate $70= $32,646.37
Down payment $5000= $27,646.37
for 72 month payment come $383.97 plus interest rate.

 

[mazda-4-ever]

I don't know your area and my tax rate in Maryland is 6%. Two years ago, I had my 2019 White Grand Touring with Premium Package for 32,000 out the door. My MSRP was 34,450 and local dealer offered 29,500 or less, I think. I don't know current MSRP and inventory situation. But, it seems to be little high for Touring. Check out sticky thread "what did you pay for your cx-5". That thread was big help when I purchased mine. And, don't ask for dealership info because they closed a year after. It was small dealer.

 

[Lipshun]

I don't know your area and my tax rate in Maryland is 6%. Two years ago, I had my 2019 White Grand Touring with Premium Package for 32,000 out the door. My MSRP was 34,450 and local dealer offered 29,500 or less, I think. I don't know current MSRP and inventory situation. But, it seems to be little high for Touring. Check out sticky thread "what did you pay for your cx-5". That thread was big help when I purchased mine. And, don't ask for dealership info because they closed a year after. It was small dealer.

Thanks for your input! Appreciate it!

 

[aznbala]

Yeah trucar for prices in your area. I believe Mazda has 0% apr for 4 years. I got 0.9% for 5 years with excellent credit

 

[CX5_Driver]

..

Financing costs
Car $29,900+Tax 8.625% $2,578.87+DMV $97.50+ Transfer Plate $70= $32,646.37
Down payment $5000= $27,646.37
for 72 month payment come $383.97 plus interest rate.

I am confused....

what does "plus interest rate" mean? did the dealer already quote a monthly payment of 383.97?
because 27,646.37 / 72 = 383.97 that is a 0% interest rate.

 

[Sig cx-5]

I am confused....

what does "plus interest rate" mean? did the dealer already quote a monthly payment of 383.97?
because 27,646.37 / 72 = 383.97 that is a 0% interest rate.

I read it as he has the price of the vehicle, but hasn't locked in financing yet.

 

[Lipshun]

This was his response when I asked what the APR was and also that I'd like the price lowered on the cost of the car before taxes...

Rate for 60 month is 0.9%. If you go 72 months it will little higher. Once you are ready I will try my best to give more discount.

What do you think would be a good final cost of the car?

 

[dunhillmc]

Interest rates are very individual things. No one here can tell you what a "good" rate is for your situation

 

[Lipshun]

Interest rates are very individual things. No one here can tell you what a "good" rate is for your situation

I'm talking base price without interest, that's what I asking. I know interest rates are individual.

 

[aznbala]

Google it or use truecar. Lots of info out there

 

[CX5_Driver]

@Lipshun it looks like you also posted in the correct thread:

What did you pay for your CX-5?

I also found the Costco affiliated dealers would not budge lower than the "Costco Price" which I guess they have to stick with to maintain their affiliation. I made them the same offer that I did to other dealers & never even heard back. Please all, you can usually negotiate lower. I...

www.mazdas247.com

just a note for terminology:

rate = interest rate; this is cost of borrowing money
price = item cost BEFORE any fees or interest
fees = government non negotiable / not flexible; dealer negotiable / flexible

on topic for OP... for a 'good deal' on average is a 8% to 10% discount on MSRP. A high as 18% discount on MRSP have been seen in the past late 2019 early 2020. Local market will drive the willingness for dealers to make an aggressive deal. Always look not just directly in your city, but neighboring areas as well. Of course always get everything in writing.

Mazda Build & Price Your Vehicle

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www.mazdausa.com

MSRP for a base 2021 CX-5 Touring is 27,110 + destination cost of 1,175 = 28,285
how ever OP is stating a 29,900 price - so there must be some added options

I would say this is not a 'good' deal on the PRICE of the vehicle with the information given.