Has anyone qualified for 0% financing for 60/mo?

J

JPL

:
2018 Mazda6, CX-9
Mazda offers this off and on. Their site currently shows that offer for the 2018 CX-9, surprisingly. Of course "for well qualified buyers". I hear it's nearly impossible to get unless you're in the excellent credit range. Apparently "very good" isn't good enough.

Just curious to hear if anyone has actually gotten it for 2016 or '17 models. And about what credit score range did you have / moneydown/trade.

Thanks
 
The dealer kicks in for the 0%, it will affect the bottom line. I chose 2.4% instead. I bought a new '16 in June.
 
I have found that credit scores are often influence by lifestyle aspects (real or perceived) not related to your credit worthiness.
Even people who are "excellent" credit risks are not as high scoring as people who you might think are worse credit risks.

That's great you got 0%
 
I got 0% for 60 months when I bought my Protege5 back in the day and I had crappy credit. That was years ago though.

EDIT: 830 x 60 = almost 50 grand. SOMEone scored when you walked in. (boom06)
 
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Natey said:
I got 0% for 60 months when I bought my Protege5 back in the day and I had crappy credit. That was years ago though.

EDIT: 830 x 60 = almost 50 grand. SOMEone scored when you walked in. (boom06)
Click to expand...


I think 830 is his Credit rating and not his mo payment (0% APR)
 
That makes more sense than $800+ a month for a Mazda. I thought he meant 830! Score! lol

Weird though because a new CX-9 Signature costs $45k +
We BOTH might be right. lol
 
Perfect credit history does not translate to 0% financing. I've found getting 0% financing, which was rampant years ago, is near impossible in my area. But if you can get it, go for it.
 
Horton said:
Perfect credit history does not translate to 0% financing. I've found getting 0% financing, which was rampant years ago, is near impossible in my area. But if you can get it, go for it.
Click to expand...

All you need is a 680 FICO I believe. Maybe 700.

Weigh taking 0% vs any cash offers. See what your exposure is over the term. You will see whats better. Usually Mazda offers an either-or. Take the 0% or the cash rebate.
 
I've had zero percent financing from CarMax, but that was with $5,000 down on a $25,000 car (2012 CX-9 GT, in 2014), credit score in the 800's. Sometimes it depends on how strong a hand you have, and which institution is actually writing the loan. If you have a high credit score, and are prepared to walk out the door and across the street to the Honda dealership, you might fare better (as long as the Honda dealership isn't owned by the same company as the Mazda dealership).
 
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I purchased a 2017 model just 3 weeks ago and qualified for the 0% for 60 months promotion. We put down $10K, no trade-in, and my FICO credit score was ~800.

Here's the detailed breakdown of my deal:
- MSRP (incl. Destination Fee): $43,410
Opted for Mazda's 0.9% for 60 months financing (take $2,000 off for cash purchase)
- Total Discounts: $5,242 (includes $500 Owner Loyalty discount)
- Discounted Offer: $38,168
- Taxes & Fees: $4,113
- Out The Door Price: $42,481

Had Roof Racks (the cross bars, the roof rails come with the GT trim) thrown in and installed, so that's worth about $300-400 more off.

So, had I gone for standard financing (which offers to discounted price, but you end up paying more in the end due to interest) my discounted price would have been $36,168..and then another $300-400 off for the free installed roof racks....so about $35,768.
 
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JPL said:
Mazda offers this off and on. Their site currently shows that offer for the 2018 CX-9, surprisingly. Of course "for well qualified buyers". I hear it's nearly impossible to get unless you're in the excellent credit range. Apparently "very good" isn't good enough.

Just curious to hear if anyone has actually gotten it for 2016 or '17 models. And about what credit score range did you have / moneydown/trade.

Thanks
Click to expand...


I found it resoundingly odd that even though we were cash buyers, the dealer still "needed" to run a credit check. Very odd. After the check, they then offered zero-down, zero-percent with several full term options. Why make the offer??? Of course, we declined as we were not interested in establishing any kind of credit account. The finance manager then called us into his office to count $100 dollar bills citing the "Patriot Act" and mumbling something about "Homeland Security." What!?!? We just wanted to buy a new SUV without credit, not start WWIII!

Oh, the joys of knowing your Congressmen and Congresswomen are working hard on your behalf to keep you safe while purchasing a new vehicle. (bs) Yeah, there's nothing like the dangers of buying a new vehicle using - dare I say it - real cash. Oh, my! I really can't think of anything else that would trigger invoking the Patriot Act and issuing nods to Homeland Security.

Soon, you will be put on the No Fly List when buying a new vehicle with cash. Maybe zero-percent and zero-down only gets you put on the FBI's Most Wanted List, I don't know these days. Or, maybe the TSA Guaranteed Strip Naked Body Search List. Who knows.

Anyone ever get hit with the Patriot Act while buying a vehicle before? I was blown away by that. Completely blown away. Whatever happened to land of the free and home of the brave. Now, its: Oh, so you want to pay cash? Ok, well the Patriot Act says...
 
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Unfortunately... using large amounts of cash for transactions or deposits these days puts you on the radar.


Cessna CJ4 said:
I found it resoundingly odd that even though we were cash buyers, the dealer still "needed" to run a credit check. Very odd. After the check, they then offered zero-down, zero-percent with several full term options. Why make the offer??? Of course, we declined as we were not interested in establishing any kind of credit account. The finance manager then called us into his office to count 1,000 dollar bills citing the "Patriot Act" and mumbling something about "Homeland Security." What!?!? We just wanted to buy a new SUV without credit, not start WWIII!

Oh, the joys of knowing your Congressmen and Congresswomen are working hard on your behalf to keep you safe while purchasing a new vehicle. (bs) Yeah, there's nothing like the dangers of buying a new vehicle using - dare I say it - real cash. Oh, my! I really can't think of anything else that would trigger invoking the Patriot Act and issuing nods to Homeland Security.

Soon, you will be put on the No Fly List when buying a new vehicle with cash. Maybe zero-percent and zero-down only gets you put on the FBI's Most Wanted List, I don't know these days. Or, maybe the TSA Guaranteed Strip Naked Body Search List. Who knows.

Anyone ever get hit with the Patriot Act while buying a vehicle before? I was blown away by that. Completely blown away. Whatever happened to land of the free and home of the brave. Now, its: Oh, so you want to pay cash? Ok, well the Patriot Act says...
Click to expand...
 
Cessna CJ4 said:
I found it resoundingly odd that even though we were cash buyers, the dealer still "needed" to run a credit check. Very odd. After the check, they then offered zero-down, zero-percent with several full term options. Why make the offer??? Of course, we declined as we were not interested in establishing any kind of credit account. The finance manager then called us into his office to count 1,000 dollar bills citing the "Patriot Act" and mumbling something about "Homeland Security." What!?!? We just wanted to buy a new SUV without credit, not start WWIII!

Oh, the joys of knowing your Congressmen and Congresswomen are working hard on your behalf to keep you safe while purchasing a new vehicle. (bs) Yeah, there's nothing like the dangers of buying a new vehicle using - dare I say it - real cash. Oh, my! I really can't think of anything else that would trigger invoking the Patriot Act and issuing nods to Homeland Security.

Soon, you will be put on the No Fly List when buying a new vehicle with cash. Maybe zero-percent and zero-down only gets you put on the FBI's Most Wanted List, I don't know these days. Or, maybe the TSA Guaranteed Strip Naked Body Search List. Who knows.

Anyone ever get hit with the Patriot Act while buying a vehicle before? I was blown away by that. Completely blown away. Whatever happened to land of the free and home of the brave. Now, its: Oh, so you want to pay cash? Ok, well the Patriot Act says...
Click to expand...

You didn't actually bring a briefcase of cash to the dealer, did you? When you pay "cash", that means bringing a certified check from your bank.

Also, if you can actually get 0% financing, it's actually more responsible financially to take that than pay cash upfront. Think of what all that money can do for you over the course of 60 months invested. When you dump it all upfront, you don't make a single buck.
 
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Financial institutions have the rights to demand and know the source of funds. Simply scenario, you can basically wash the money by buying with cash and selling to CarMax and get a legitimate check. The money is now "clean". So to stop this, Patriot act was signed so government can better monitor large cash transactions by empowering financial institutions to ask questions
 
I've noticed in my experience in Canada that getting the advertised rate is relatively easy as long as you have a decent credit rating. When the advertised rate is 0% (which is offered even on 84 months in many cases here, except not on the CX-9 yet) many people get that rate. Basically, if you have a steady income and pay your bills you should be good to go. We may be moving to the US in a year or 2 so it will be interesting to learn the differences. Just seems more complicated in the US. Of course, this is just my observation sitting on the outside looking in.
 
JPL said:
You didn't actually bring a briefcase of cash to the dealer, did you? When you pay "cash", that means bringing a certified check from your bank.

Also, if you can actually get 0% financing, it's actually more responsible financially to take that than pay cash upfront. Think of what all that money can do for you over the course of 60 months invested. When you dump it all upfront, you don't make a single buck.
Click to expand...


We started out wanting to have fun right from the word go. So, we brought paper bills. It was a blast until the Patriot Act was read aloud from a hilltop with a tributary military band in the background dressed in blue coats playing The Battle of Lexington in the background. Things got weird at that point. At one point, we thought we were involved in some kind of reenactment instead of purchasing a new SUV. In fact, I could have sworn I saw some of the first British soldiers coming over the hill at Concord! I thought to myself: "Hell! What if this were a Rolls Royce Ghost II!" We would probably have gotten arrested first, charged with "Excessive Spending" and then put on trial for the lesser charge of "Excessive Federal Notes Counting."

It's all worthless fiat paper anyway - they know what Nixon did to the balance of payments protocol. Now, they are worried about Money Laundering and the funding of terrorists when they should be worried about out of control Twin Deficits, the US Taxpayers who have to foot those bills and the ultimate negative valuation of the USD against all modern currencies world wide. We really do have our priorities in order, that's for certain. (headshake
 
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