Mazda to switch to Toyota Financial Services for loans, leases

:
2019 CX-5 Signature; 2014 CX-9 Touring AWD
I think I financed at least one car through TFS about 15 years ago. Apparently I didn't have any complaints, since I don't remember the experience distinctly. Or maybe it was the Toyotacaine effect extending to the finance process...

Either way, I don't really care. My only question is whether Chase will sell my current loan to TFS, or if they'll continue to service it.
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
They are either creeping closer and closer to a merger, or they are trying to keep more dollars in The Motherland...or both.
 
:
2018 CX-9 Sig
:
2014 CX-5 GT
They are either creeping closer and closer to a merger, or they are trying to keep more dollars in The Motherland...or both.
Or just becoming more Japanese. It is important for Japanese companies to pay homage to be the old families.
 
:
CX5 GT-R
Might be good. Mazda wouldn't even run my credit because they knew they couldn't beat my private financing @ 3.2%x72mo, which, IMO, is a pretty crap rate, anyways, so it's going to be nice if they can get competitive.
 

wlong01

Patron
:
2019 CX5 Reserve AWD
Might be good. Mazda wouldn't even run my credit because they knew they couldn't beat my private financing @ 3.2%x72mo, which, IMO, is a pretty crap rate, anyways, so it's going to be nice if they can get competitive.
Mazda is offering .9 * 63 months.
 
:
2019 CX-5 Signature; 2014 CX-9 Touring AWD
I know they were running 0.9% in June when I first started looking, and it continued into July when I finally bought.
 
:
Mazda CX5 Touring
Might be good. Mazda wouldn't even run my credit because they knew they couldn't beat my private financing @ 3.2%x72mo, which, IMO, is a pretty crap rate, anyways, so it's going to be nice if they can get competitive.
Sort of amazing that someone would say 3.2% is a crap rate. It wasnt that long ago that you could have had double-digit rates.

I know, then and now, just saying.
 
:
CX5 GT-R
Sort of amazing that someone would say 3.2% is a crap rate. It wasn*t that long ago that you could have had double-digit rates.

I know, then and now, just saying.
I'm only 33. Not in my car buying lifetime. Worst I ever had was 5.0, on my first car ever financed, for 72mo.
 
:
2017 CX5 AWD Touring
I just hope Toyota doesn't buy out Mazda. While Toyota makes reliable cars, they are BORING to drive and lack any sporty feedback. They are just kitchen appliances.

The Mazda "zoom zoom" will turn into "snore snore"
 

brillo54

Resident Curmudgeon
Contributor
:
NE Indiana
:
'16 CX-5 GT FWD
I think I financed at least one car through TFS about 15 years ago. Apparently I didn't have any complaints, since I don't remember the experience distinctly. Or maybe it was the Toyotacaine effect extending to the finance process...

Either way, I don't really care. My only question is whether Chase will sell my current loan to TFS, or if they'll continue to service it.
I'd be shocked if Chase would let a perfectly good loan get away from them. They'll keep it I bet.
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
I'd be shocked if Chase would let a perfectly good loan get away from them. They'll keep it I bet.
Once the loan is processed, it belongs to the underwriter. Mazda has no legal interest in it.
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
For sure. Plus the bookkeeping would be a nightmare.
I know that mortgages get sold/transferred all the time. I don't know about car loans. A quick internet search found nothing about this. I've personally never heard of it happening.
 
:
2019 CX-5 Signature; 2014 CX-9 Touring AWD
Car loans get bought and sold all the time, too. Its usually when theyre not in good standing, though.
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
:
2019 CX-5 Reserve
Car loans get bought and sold all the time, too. It*s usually when they*re not in good standing, though.
Interesting. I guess it makes sense...you sell it to a more aggressive holder rather than take the reputation hit of hiring knee-breakers.
 
:
2019 CX-5 Reserve
The annoyance with Chase is that they dont make it easy to pay extra for principal reduction each month. I think the only way for you to specify that you want any excess in your monthly payment to go to principal reduction is if you make payments from a Chase banking account. Otherwise, excess in the payment just goes to reduce the next months payment.
 

brillo54

Resident Curmudgeon
Contributor
:
NE Indiana
:
'16 CX-5 GT FWD
The annoyance with Chase is that they don*t make it easy to pay extra for principal reduction each month. I think the only way for you to specify that you want any excess in your monthly payment to go to principal reduction is if you make payments from a Chase banking account. Otherwise, excess in the payment just goes to reduce the next month*s payment.
I've had my Chase loan for 4 years now and pay online on the Chase site and have had no problem paying extra against the principal from my credit union account. Not sure why the difference.
 
Top