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Comments
Moral of the story...do your research, have options and be willing to walk away. Specifically I would price it out here on Edmunds and make them an offer either at invoice or a couple of hundred dollars below and let them know that you are ready to buy if they an agree to terms.
Calvin--no offense, but sometimes buyers on this--and other prices paid forums--fail to see the forest for the trees. By that I mean you are so obsessed with focusing on OTD pricing that you ignore the much bigger picture where you'll really save money.
Now, if you are like the typical American buyer you will be putting no money down, or worse, have negative equity from a prior purchase. That mistake alone will cost you so much more than you than recoup from any negotiating on OTD price.
Perhaps your fico score won't allow you to finance on the most favorable terms. Mazda had 1.8% APR when I bought my 3 in March and I believe it's 1.9% now for the "most qualified" buyers
You'll also likely finance for some protracted time frame and that will also cost you big time. I crunched a few #s for you below:
#1--You buy for your target price of $21,900 @ 7.5% interest which yields payments of $439/month for 5 years. Lets be generous and say you saved $1000, even $2000, off dealer MSRP. The total interest you'll pay is $4430.00 over the term of the loan.
#2--Now let's say you buy for your highest figure $22,586. Again with no money down, you qualify for the 1.8% for 3 years. Your monthly payment will be $644/month for the 3 years, but your interest is $632. Putting $5000 down would reduce your monthly payment to $502/month and your interest to $492.
In scenario 1 saving $686 on up-front cost. Unfortunately, you are spending roughly 7 times more, or $3748 on back-end interest.
Of course you'd save even more if you put 20% or more down. I'm paying a whopping $225 in interest on my Mazda3 S touring hatch and haven't worried a lick about whether I paid invoice or MSRP. While you are all tied up in knots complaining that you can't get a favorable deal quibbling over small change, I'm out enjoying driving a new car with almost a free loan. Plus I'll never be upside down on my car and I have bumper to bumper extended warranty from Mazda for an extra 4 years.
Gogiboy
I hung up with her and called back my second choice dealer. The sales guy I've been corresponding with online was off so I got his partner instead. I told him the deal the guy offered me on an i touring with sab/sac/abs package. Unfortunately that car was sold.....weeks before the guy offered it to me. I was starting to get pissed. But then this guy stepped up and made me an offer. He'd get me an s touring which comes standard with all the safety features I wanted. No extras or options added. $200 under invoice. I had to take it that night though. He honestly admitted that he was trying to get his numbers up for the month so if I came tonight he could do the deal. Done.
Galaxy Grey Mica 2007 Mazda3 s Touring. 5 spd manual, wheel locks. $17,700 including destination.
You got what you wanted using a cheap interest rate and are able to afford either a nice chunk down or the whopper payments that a 36 month term dictates (or both). That is super for you, but that would be atypical for almost every mazda3 buyer.
You are correct that they are probably tied up in knots. They should decide on the car they want (trim and options), find them using the inventory search at the musa web page, and start trying to deal with those dealers. They should also get pre-approved for cheap financing at their bank, credit union, or CapitalOne online before doing anything else. If MAC or the dealer can offer a better rate on a simple interest loan with the same term, then they would take it. Otherwise they use the money they have already secured.
Bouncing back and forth between different models, options, colors, dealers, coupons, etc sure takes a lot more effort. If I am paying big bucks for a car it had better be the right color and optioned the way I want it, or I will find one that is. Now, it is end of year and Mazda is doing $3k incentive on the left overs, you buy at invoice less incentive and take what they have left
Dennis
She then offered me another vehicle (wait for it) a ...2007 Saturn Vue. WTF
Salespeople you've got to hand it to them; they can always come up with a line ... I can't imagine going from a Mazda3 to a Saturn Vue.
I'm not surprised...Changes like that are not that uncommon. We see folks make wild changes in midstream all the time.
Moonroof/6CD/Bose Audio
Front Air Dam
Compass Autodimming mirror
Door edge guards
Wheel locks
Cargo mat
All-weather floor mats
Rear bumper step plates
Definitely below MSRP, but more than a grand above invoice. There were only 6 hatchbacks in this dealer (Sansone Rt1 Mazda), and the only GT and only 1 with a stick. Went to 8 dealers (Maxon Mazda, Wayne Mazda, Mazda of Lodi, Manhattan Mazda, Crystal Mazda, Ramsey Mazda, Koeppel Mazda, and finally, Sansone Rt 1 Mazda) and noone has a GT5dr with a stick. Gotta have those heated leather seats and HID headlights. Love sticks, specially this car, gets better gas mileage too.
Test drove the vehicle, got a grin from ear to ear, never drove an economy car like this one! Driven Civics, Sentras and Corollas, this one is definitely the most fun to drive. And I think I was taken advantage of because the salesperson felt I really want to have this specific car. Can't blame myself, I really loved the way this car drove!
They gave me the LoJack for 2 years, Extended Bumpter-to-Bumper Warranty to 6 years/100000 miles and Gap Insurancea, all for less than 1500. Plus NY tax (I live in NY, although I bought this in NJ), title and registration.
All in all, the car was around 24500, plus 2.9% financing for 5 years.
I'm just loving every minute I spend with this car!
I agree completely with your assessment of the situation. I guess my feeling is that too many folks get all worked up over $500-$1000 difference between the price they feel they deserve and the price the dealer will honor. Those same people will give back the $1000 and more because they didn't find--or qualify for--the best financing, bought on a 5, 6, even 7 year note and/or rolled negative equity from their last purchase into the new car. But, damn it, they really got a great deal on the purchase price that they can come and brag about on the prices paid forum!
I realize that the Mazda3 is an entry level vehicle from a non-luxury brand, but what's wrong with taking the $435/month payment of scenario #1 and waiting 12 months ($5200 down), working on his credit worthiness (if necessary), then going to the dealership, striking a good deal and knowing that it won't be undermined later, by much more significant factors than the price.
I'm all for buyers negotiating the best possible price using Edmunds and other sources, but to calvin I'd say, life is too short to waste crying over car deals or dealers that did him wrong.
Gogiboy
Sorry so late, I have not been on this site for 2 weeks, since something bad happen in my family.
The guy that I bought my car from was Baldwin. Please see him. Call him, let him know that I sent you. You will get a great deal.
Thanks,
stallionre
You have a point. There was someone on another forum who was contemplating a tiny Toyota Yaris for its fuel economy until she decided on a Jeep Grand Cherokee. I would never in my wildest dreams have seen the two in a comparison but that's me. "To each his own, it's all unknown" as Bobby would say.
We had a lady last night who is comparing a RX-8 to a Passat. Go figure.
Keep in mind the 1.9% is only up to 36 months - a pretty hollow offer since they know 99% of the folks shopping for a Mazda3 can't afford to finance the car for such a short period of time.
Dennis
Also, does anyone know where online I can find a pic of this car with the rear wing spoiler. I've never actually seen this spoiler and the few negative comments I've read online about it are making me worry about how it looks. I don't want to go to the dealership until I'm ready to buy.
I qualified for the 1.8% back in March. My score is over 800, though. I'm not sure where the cut off is, but the F & I guy said the 1.8% was a teaser rate and few of their customers qualified. I'm not sure if that statement speaks to the customers who buy Mazdas or to the poor state of personal financial responsibility in America. The term is for 3 years or less so a lot of buyers are unwilling or unable to finance for such a "short" period. I strongly urge you to do it if you can since it's virtually like free financing.
Gogiboy
When a dealer tells you 1.8% or 1.9%, that is the selling point to try to get you into the dealership and then stick it to you for more than that. They know how to do it, that is their business.
2007 MAZDA3 4-Door and 5-Door 1.9% APR for up to 36 MONTHS (1)(4)
(1) Take new retail delivery from dealer stock by June 4, 2007. See dealer for complete details
(4) 36 MONTHS MAZDA AMERICAN CREDIT FINANCING AT $28.60 PER MONTH PER $1,000 FINANCED. 1.9% APR ONLY FOR WELL QUALIFIED BUYERS. NOT ALL BUYERS WILL QUALIFY. AMOUNT OF DOWNPAYMENT AND OTHER FACTORS MAY AFFECT QUALIFICATION. Take new retail delivery from dealer stock by June 4, 2007. See dealer for complete details. Excludes MAZDASPEED3
So I would not count on the cheap money until the deal is done and MAC funds the loan.
Dennis
I am pretty sure I will like it better than the Si, but I can get the Honda for invoice or a bit less and about $800 over invoice is the best I can do on a speed3.
Dennis
I checked, and the speed3 is again excluded from the cheap rates - at lease in my area.
Dennis
2007 Mazda3 S Touring automatic w/ Moonroof and 6CD package
Price before TTL: $19,624 (includes a "Philadelphia Assesment" of $193 and a "Warranty Retail Parts Recovery" of $32) Dealer showed me that this was the invoice (Edmunds shows $19,492 but doesn't account for the other line items). Also financed at 3.9% for 48 months.
Good, bad, or ?
BTW, this car rocks! A lot of bang for the buck, esp. with all the safety options the touring model provides.
We have some exciting news to share! Visit your Mazda dealer this Memorial Day Weekend and take advantage of our special, limited-time offers! Right now, we're offering low APR financing on the 2007 MAZDA3, MAZDA6 and Mazda CX-7:
• 0.9% APR financing for 36 months!*
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Or check out our amazing lease offers on the MAZDA3 and the all-new seven-passenger Mazda CX-9.
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Mazda North American Operations
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Mazda North American Operations – 7755 Irvine Center Drive – Irvine, CA 92618-2922
* 36 MONTHS MAZDA AMERICAN CREDIT FINANCING AT $28.16 PER MONTH PER $1,000 FINANCED. 48 MONTHS MAZDA AMERICAN CREDIT FINANCING AT $22.53 PER MONTH PER $1,000 FINANCED. 60 MONTHS MAZDA AMERICAN CREDIT FINANCING AT $18.83 PER MONTH PER $1,000 FINANCED. 0.9% APR, 3.9% APR AND 4.9% APR ONLY FOR WELL QUALIFIED BUYERS. NOT ALL BUYERS WILL QUALIFY. AMOUNT OF DOWNPAYMENT AND OTHER FACTORS MAY AFFECT QUALIFICATION.
Take new retail delivery from dealer stock by 5/31/07. See dealer for complete details. Excludes MAZDASPEED3 and MAZDASPEED6.
MSRP $19,463 before TTL
Invoice $18,103 before TTL
I'd appreciate opinions on what a fair price would be (before TTL).
Thanks!
I hope you meant $500 over INVOICE - or else the dealers would chuckle every time you worked a deal with them .
A few hundred over invoice would be a decent price, as long as that included destination and dealer fees.
Dennis
So the pricing went:
$18,318 Invoice (including location assessment and $595 destination)
150 agreed to "over invoice" price
1,125.42 sales tax
175.00 registration
289.00 dealer conveyance fee
I took the 0.9 financing.
By the way, the registration and dealer conveyance fee varied from dealer to dealer.
Hope this info can help someone else looking to purchase.
Thanks to all of you who contribute to this forum.
Dennis
I've being reading the forums a lot lately as my family is deciding on a car, which all but points to Mazda.
They most likely will end up with this version of the Mazda Sport: http://www.mazda.ca/eng/getin/mazdamaker/estimator.asp
I was wondering if there were any fellow Canadian's in Toronto or the GTA that would be able to help my family get the best possible deal. We are looking at financing between the range of $0 down - $2000 range. Does anyone have any tips or experiences they could perhaps share?
Thanks guys.
Oh the phone, I worked out a deal with a fleet manager for a Mazda 3 S touring, and was wondering if you guys think I should go for it. BTW, this is in south bay/san jose area in California
Mazda 3 S touring w/ manual tranny, silver color
Options: wheel locks...yea thats it
MSRP according to edmunds: $19, 070
TMV according to edmunds: $18, 343
Invoice according to edmunds.com: $17, 881
Negotiated price: $17, 400
-the price includes destination and assessment fees
Any feedback would be appreciated. Thanks
Bought it at Mapleshade Mazda in NJ. Easy and smooth negotiating.
I can't wait to pick it up!
Pearl White with all options, except Navi.
Gave $500.00 under invoice and got the .9% for 36 mths. This is in the DFW, Texas area.
Phantom Blue looks different in every light. I'm so glad I went with it. It looks nothing like the chip you see in the brochures or online.
They through in All-weather mats and the body colored door guards too! All for $19,292.00. I think I made pretty good.
Please respond soon as we are looking to purchase this vehicle in the next week or so.
This is the first time I ever post a message. I'd appreciate input on an offer I'm getting from a dealer (I'm in Chicago).
This is an online offer so I'm not sure if I can haggle to bring down the price or if I can even expect to get a lower price...
Thanks!
Silver Mazda3-S sedan with auto, ABS/SAB/SAC pkg.
$17,254.00 Car (includes destination charge)
$58 doc fee
$1558.08 tax
$143 plates
$19,013.08 out the door includes Chicago tax and all dealer fees
The Sandman
Can you tell me which dealer you got this offer from? Maybe we can buy together and get a better price. Let me know.