Just curious if any of you guys do internet financing before you go into the dealer or check your credit etc.

 

of course, you can use it as leverage.. dealers typically get some sort of compensation for financing you through a local bank so they'll push for it and depending on the rate you get through, say capitalone you can use it as a bargaining chip

before you go anywhere though.. know your credit history, report and score.

www.truecredit.com is great for only $15 a month for credit reports from 3 bureaus and your fico score.

www.capitalone.com is great for easy auto financing, if you've got excellent credit try www.firstagain.com

 

When I purchased my 8 i had it fiananced through Mazda for about 24 hours. Dealer had incentives for purchasing an 06 in 07 and Mazda credit had incentives for fianancing throught them. I had already contacted my bank and had a better rate then through Mazda. Saved about 6k in incentives by making 2 phone calls.

 

Same here. It was worth it to receive the Dealer incentive, and then I immediately paid it off.

 

Except that you missed the incentive... Mazda's payoff include a charged back incentive for the first 90 days(3 full payment cycles actualy)...

I echo the capitalone comment. It is very competitive ratewise (marginally beatable) but the convenience factor and versatility are off the charts. If you have excellent credit you can finance any 05 and newer for 150% of NADA, that's ridiculous. I bought my car at auction and could have ALMOST bought two and fit it in one loan.

 

I used capitalone as well. Got an awesome rate and they sent me a blank check with some ridiculously high limit (fortunately less than the VERY nice Jaguar XK that was on the lot where I got my 8).

 

i was really surprised at the rate i got for my loan with capitalone considering i have a limited credit history.. after a year when my history is more extensive i can refinance with anyone else for an even better rate!

 

Any way to check my credit score for free?

 

Not true. I did the same thing buying an 06 in 07. Paid Mazda financing off after 3 days with a refi from a local CU. Kept all incentives. The dealer tried to BS me that I had to keep it 3 months, but I called Mazda financing direct and verified there was no penalty for early payoff. They gave me the total and I sent the check. If it's different now it has changed from last year.

 

Same here in March '06, but my dealer actually told me I could pay it off immediately, w/o penalty, and still retain the incentives. A 'loophole' as he described it.

 

I'mn quite sure it changed because, "we" as in Mazda Dealers ripped off MAC LOTS of money by suggesting just what is occcurring. We were sent a memo at some point that after a certain date, all contracts would carry the incentive int he payoff for 3 full payments. If MAC didn't carry this out then shame on them. It was shame on them in the first place, "us dealers" could give a rat's @$$ that they stood to lose in the transaction.