Just put a deposit on a 2015 CX-5 Sport... Nervous. Questions.

[beckster]

I'm not a finance expert, which is one reason I pay cash, but yes I think after 6 months it'll be moot. You have an collateral problem, being upside down on the M3. Who knows, once you've made 6 months of payments, go back to the CU and ask them to run the numbers. If it saves you money to refi at that point, do it.

I wish I was in a position to pay with cash!

I calculated the true loan cost and these are the numbers I came up with:
Mazda financing: 22900 @ 4.99% for 72 months = 26,546.17
CU financing: 22900 @ 2.24% (at best) for 72 months = 24,494.68
The difference is 2,051.49

I mean, two grand is two grand, but it's not such a huge difference that I'll lose sleep over it if I can't refi.

 

[CX5Alive]

I wish I was in a position to pay with cash!

I calculated the true loan cost and these are the numbers I came up with:
Mazda financing: 22900 @ 4.99% for 72 months = 26,546.17
CU financing: 22900 @ 2.24% (at best) for 72 months = 24,494.68
The difference is 2,051.49

I mean, two grand is two grand, but it's not such a huge difference that I'll lose sleep over it if I can't refi.

Wow, I may be in the position to pay cash, but $2 grand is a lot of money to me!

 

[beckster]

Wow, I may be in the position to pay cash, but $2 grand is a lot of money to me!

No, don't get me wrong, I don't want to pay any more than I have to, haha. I just don't really see that I have a choice.

 

[RG_Flyer]

No, don't get me wrong, I don't want to pay any more than I have to, haha. I just don't really see that I have a choice.

Consider it a $2K lesson and do it differently next time.

Dealers used to jump when paying cash as it eased their overhead, but not much anymore as it is now revenue-generating as CX5Alive indicated.

 

[bdavis]

I have blizzard ws70s on my manual sport. It's a beast. For the record, I have a Subaru and suburban that both get snows. And the Mazda is just as capable.

 

[bdavis]

And I paid just under 23 out the door for my 2013. 0.9% for 72 months. $336 a month I think. I couldn't say no to those financing options. I think I calculated I paid $500 in interest over the five years.