What did you pay for your CX-5?

[mohammadsp]

I hardly ever ask this, but can you get me up to speed on the issue with Mazda financing? Normally I would go back through the comments and read for myself, but this thread is over 300 pages. I was going to finance through Mazda if I can qualify for the 0%. The guys at my dealership had no idea what approval parameters were and did not want to make any representations regarding what the financing folks may or may not do.

FYI I just plugged in the extra discount for that $2,000 customer cash, and over the life of the loans, the 2.69% saves $223 in total payments versus 0% financing.

Sure. Right now Mazda is offering the 0% financing. At the same time there is a $1K customer cash incentive. But they are exclusive, i.e. either $1K cash rebate or 0% financing. Most of the times when you get a quote from a dealership they deduct the $1K incentive and mention that this quote is only valid if financed through mazda standard financing, which has an interest of 4.9-5.9. However, NelsonLewis has mentioned a few times that this is not the case and you can get the dealer to give you the quote they offered without the need to go with standard Mazda financing and instead bringing in your own loan. Hope that helps. Let me know if I didn't really answer your question.

Thanks for the info regarding the $2K cash. I guess you are going for a fully loaded GT. In my case, i.e. a regular Touring, the difference would be ~$1K over the life of the loans.

 

[NelsonLewis]

Sure. Right now Mazda is offering the 0% financing. At the same time there is a $1K customer cash incentive. But they are exclusive, i.e. either $1K cash rebate or 0% financing. Most of the times when you get a quote from a dealership they deduct the $1K incentive and mention that this quote is only valid if financed through mazda standard financing, which has an interest of 4.9-5.9. However, NelsonLewis has mentioned a few times that this is not the case and you can get the dealer to give you the quote they offered without the need to go with standard Mazda financing and instead bringing in your own loan. Hope that helps. Let me know if I didn't really answer your question.

Thanks for the info regarding the $2K cash. I guess you are going for a fully loaded GT. In my case, i.e. a regular Touring, the difference would be ~$1K over the life of the loans.

Hey Derklink,
I just bought a 2018 FWD Touring in Machine Grey, NO preferred package out the door for $26,200. I*m in AZ so tax was 8.1%. I think you can get lower, mine was about 14% off MSRP I believe.

They also tried to stop the deal when I told them I wasn*t financing a small amount through Mazda. Had to talk to GM who then said it was a *misunderstanding* and then let me go with my own option. Just don*t play into their game.

You also have this poster agreeing with me. I know others here don*t, and haven*t for years, but trust us, like the other poster stated, do not fall for their games, you can definitely bring your own financing, even pay cash if you wanna, and get the CC. If a dealer continues to tell you otherwise, walk...

 

[NelsonLewis]

I hardly ever ask this, but can you get me up to speed on the issue with Mazda financing? Normally I would go back through the comments and read for myself, but this thread is over 300 pages. I was going to finance through Mazda if I can qualify for the 0%. The guys at my dealership had no idea what approval parameters were and did not want to make any representations regarding what the financing folks may or may not do.

FYI I just plugged in the extra discount for that $2,000 customer cash, and over the life of the loans, the 2.69% saves $223 in total payments versus 0% financing.

I think they normally want a 700+, of course, a sizable down payment always helps (or so they*ll tell ya, lol). Always think you*re better off foregoing the 0% and haggling an incredible deal...

 

[Capthat]

You also have this poster agreeing with me. I know others here don*t, and haven*t for years, but trust us, like the other poster stated, do not fall for their games, you can definitely bring your own financing, even pay cash if you wanna, and get the CC. If a dealer continues to tell you otherwise, walk...

Yeah my credit was north of 800 and they were offering me 4.9% since they deducted so much from price. When I told them I wasnt doing that, the sales guy got mad and said no deal. Thats when I had to talk to the GM because both the sales and finance guy were trying to screw me around. GM said they didnt check other rates that they are part of a credit network. Unfortunately the rates I could find were still not what I consider great, so I financed about $10k over 3 years at 3.2%. Ill pay it down faster though. I honestly think they were mad because I feel I got a good price on the car, and the sales guy even said they had to make money somewhere when I told them I was going to walk with that interest rate when I had such good credit.

 

[ColoradoDriver]

I had no credit when I bought mine. I did do 12k down though and financed the other 14.5k through my credit union which gave me 2.99 percent for 4 years. My monthly payment was like $322.

I have north of a 700 score these days. I bought the car when I was 22. I didn't use credit cards at the time and had no debts, so it was odd to me the concept of a credit score.

 

[Avoidin Deer]

Sure. Right now Mazda is offering the 0% financing. At the same time there is a $1K customer cash incentive. But they are exclusive, i.e. either $1K cash rebate or 0% financing. Most of the times when you get a quote from a dealership they deduct the $1K incentive and mention that this quote is only valid if financed through mazda standard financing, which has an interest of 4.9-5.9. However, NelsonLewis has mentioned a few times that this is not the case and you can get the dealer to give you the quote they offered without the need to go with standard Mazda financing and instead bringing in your own loan. Hope that helps. Let me know if I didn't really answer your question.

Thanks for the info regarding the $2K cash. I guess you are going for a fully loaded GT. In my case, i.e. a regular Touring, the difference would be ~$1K over the life of the loans.

Thanks.

My dealer gave me a written quote with the $1,000 and never mentioned a financing source.

As I have forever observed, these processes for buying a house and a car--the two most high-dollars outlays we make--are so daggone dysfunctional.

And yes, I'm looking at a loaded GT...those prices include taxes and all fees. Heck, if I went with FWD, standard paint, no roof rails and no hitch, I'd save over $3,000. I still haven't pulled the trigger...

 

[Avoidin Deer]

I think they normally want a 700+, of course, a sizable down payment always helps (or so they*ll tell ya, lol). Always think you*re better off foregoing the 0% and haggling an incredible deal...

So far I've got $3,250 off the MSRP of $32,000, the dealer fees cut in half, and some dealer-installed accessories at half the rate. As I've negotiated, both written quotes have included that $1,000 discount you get with standard financing, but the dealer has never mentioned anything about financing. I ask for a parallel quote to reflect the 0% Financing price and he just sends it without any discussion or hesitation (I ask for that 0% written quote because I don't want anything else sneaking in...and it hasn't).

At $0 down, I'd have to squeeze another $900 out of them to get the same Total Payments as 0% financing (using my bank's 2.69% loan). I could probably get them to throw in the cargo cover. And any down payment I might make would lower the additional discount required to narrow the 0%/2.69% gap.

The guys at this dealership are very laid back, unlike any other I have seen (including CarMax). I just figured that was part of the Mazda experience.

 

[mohammadsp]

I thought the customer cash is $1K right now but I just asked the dealership that gave me the best quote to quote me with 0% financing as well and the difference between the two is $1500.

 

[mohammadsp]

Yeah my credit was north of 800 and they were offering me 4.9% since they deducted so much from price. When I told them I wasn*t doing that, the sales guy got mad and said no deal. That*s when I had to talk to the GM because both the sales and finance guy were trying to screw me around. GM said they didn*t check other rates that they are part of a credit network. Unfortunately the rates I could find were still not what I consider great, so I financed about $10k over 3 years at 3.2%. I*ll pay it down faster though. I honestly think they were mad because I feel I got a good price on the car, and the sales guy even said they had to make money somewhere when I told them I was going to walk with that interest rate when I had such good credit.

It is a good sign when the sales person gets mad!

 

[thedinger]

I decided to check out Costco pricing for a CX-5. The closest dealership that participates is a couple hours away. The Costco price for a Touring with Preferred Equipment package was $28,700 before taxes/fees. There is one on a lot close to me that is identical for $28,300 before negotiating/taxes/fees. Obviously that is not very impressive from Costco... It makes me wonder if i actually got the Costco price or if they are just trying to take a couple hundred off of list price seem as a great deal. I was under the impression that Costco pricing was usually a bit above the dealer inflated invoice. Anyway, heads up.

 

[CX5Nut]

When we did the Costco deal we had to go to the dealership to be shown the Costco price in writing , which was several hundred below invoice

 

[Capthat]

I decided to check out Costco pricing for a CX-5. The closest dealership that participates is a couple hours away. The Costco price for a Touring with Preferred Equipment package was $28,700 before taxes/fees. There is one on a lot close to me that is identical for $28,300 before negotiating/taxes/fees. Obviously that is not very impressive from Costco... It makes me wonder if i actually got the Costco price or if they are just trying to take a couple hundred off of list price seem as a great deal. I was under the impression that Costco pricing was usually a bit above the dealer inflated invoice. Anyway, heads up.

I think the preferred package was like 1200-1300 extra. Should be able to get car around 25000 before ttl. I had 3 dealers bidding against each other. 1 said the offers the other dealers were quoting were extremely aggressive so I let the other 2 go at it, and then called and went in to finalize it all.

 

[mohammadsp]

I decided to check out Costco pricing for a CX-5. The closest dealership that participates is a couple hours away. The Costco price for a Touring with Preferred Equipment package was $28,700 before taxes/fees. There is one on a lot close to me that is identical for $28,300 before negotiating/taxes/fees. Obviously that is not very impressive from Costco... It makes me wonder if i actually got the Costco price or if they are just trying to take a couple hundred off of list price seem as a great deal. I was under the impression that Costco pricing was usually a bit above the dealer inflated invoice. Anyway, heads up.

The dealership that Costco sent me to had a specific sheet from Costco explaining that for CX-5 they have to take $1200 off of the invoice. However, I already have better quotes from other dealerships without even negotiating.

 

[mohammadsp]

I think the preferred package was like 1200-1300 extra. Should be able to get car around 25000 before ttl. I had 3 dealers bidding against each other. 1 said the offers the other dealers were quoting were *extremely aggressive* so I let the other 2 go at it, and then called and went in to finalize it all.

what is your strategy to get dealers bidding against each other? Do you explicitly say "I have a similar/better offer, do you want to beat that" os something like that?

 

[Avoidin Deer]

I decided to check out Costco pricing for a CX-5. The closest dealership that participates is a couple hours away. The Costco price for a Touring with Preferred Equipment package was $28,700 before taxes/fees. There is one on a lot close to me that is identical for $28,300 before negotiating/taxes/fees. Obviously that is not very impressive from Costco... It makes me wonder if i actually got the Costco price or if they are just trying to take a couple hundred off of list price seem as a great deal. I was under the impression that Costco pricing was usually a bit above the dealer inflated invoice. Anyway, heads up.

That's interesting.

I almost dropped $60 on a COSTCO membership over the weekend solely to get a CX-5 quote. I really have no other use for a membership.

 

[brillo54]

That's interesting.

I almost dropped $60 on a COSTCO membership over the weekend solely to get a CX-5 quote. I really have no other use for a membership.

My niece and her husband are big Costco users but she told me recently that they got a better deal than Costco using a service offered through AAA. If you're a member there it might be worth checking out.

 

[Avoidin Deer]

My niece and her husband are big Costco users but she told me recently that they got a better deal than Costco using a service offered through AAA. If you're a member there it might be worth checking out.

REALLY?????

As a matter of fact, I AM a AAA member. I had no idea they offered this.

Thank you very much.

 

[NelsonLewis]

That's interesting.

I almost dropped $60 on a COSTCO membership over the weekend solely to get a CX-5 quote. I really have no other use for a membership.

REALLY?????

As a matter of fact, I AM a AAA member. I had no idea they offered this.

Thank you very much.

I guess you missed my original reply back to you several pages back. Don*t use the sites like Costco, Edmunds, and TrueCar. They*re paid services (they make like $300 for the referral), and you can kill their prices by shopping around and haggling a little. Granted, haggling or spending a little time isn*t for everyone, and that*s okay if that*s your thing I guess, but it*s not that hard to get them to drop the price some, most it*s as simple as just asking and stating you*re not paying that. It*s like the employee E and S-Plan prices, sure it*s better than the gullible that pay MSRP and above (ouch), but there literally are dealers that advertise prices lower than those deals from the start. Good luck and I hope everyone solidifies the deal and gains the new auto they*re looking for one way or the other...

 

[NelsonLewis]

The dealership that Costco sent me to had a specific sheet from Costco explaining that for CX-5 they have to take $1200 off of the invoice. However, I already have better quotes from other dealerships without even negotiating.

Yep, exactly. Plus, the Costco deal makes you show up in person to get the deal. Already at a disadvantage to fall into their traps, not to mention impulse buy...

 

[thedinger]

Yep, exactly. Plus, the Costco deal makes you show up in person to get the deal. Already at a disadvantage to fall into their traps, not to mention impulse buy...

They dont make you. I actually called Costco to ask this and they have no policy regarding emailing instead. A few of the dealerships I contacted are 4+ hours away. I explained when I contacted them that I live a long distance but if they offer me a good number via email I'll make the drive. I have seen others have a good experience with it. I think in my situation the first dealership to respond is jerking me around and not being serious... so typical dealership. I'll update this thread with the other numbers I get back.