Mazda Dealership refuses to give me the rate I qualify for, is this legal?

bbrescian1

Hello,
I am trying to lease a 2016 CX-9. Currently the best rate on MF from Mazda leasing is .00023 (Confirmed through Edmunds.com as well as the car sales person)
The car I am trying to lease is actually a deal demo with 4600 miles on it. I was told since there is a heavy discount on the car the MF is .00073 (nearly triple what I qualify for). Which doesnt make sense, the MF is set by Mazda Finance (Chase bank I believe) and shouldn't matter what the discount.
Does anyone know if this is legal? I feel like this would fall under buyer discrimination.

kyfdx

bbrescian1 said:

Hello,
I am trying to lease a 2016 CX-9. Currently the best rate on MF from Mazda leasing is .00023 (Confirmed through Edmunds.com as well as the car sales person)
The car I am trying to lease is actually a deal demo with 4600 miles on it. I was told since there is a heavy discount on the car the MF is .00073 (nearly triple what I qualify for). Which doesnt make sense, the MF is set by Mazda Finance (Chase bank I believe) and shouldn't matter what the discount.
Does anyone know if this is legal? I feel like this would fall under buyer discrimination.

Mazda dealers are allowed by Mazda Finance (aka Chase Bank) to markup the money factor by up to .00050. for extra profit (do the math).

The money factor is not an APR. They do not have to disclose the money factor and that information is confidential between the dealer and the bank.

You aren't borrowing money, you are renting a car for a monthly payment. The disclosure rules are not as stringent as with a loan.