Ok here's my financing story, I'll try to make it short and sweet.

Dealer offered me
Scotiabank 7.9% 5 year loan I didn't want scotia for personal reasons. So they offered me BMO for 7.55%

The rates JUST went up, so I was approved but at 7.65%

I got some great help from a guy on www.canadiandriver.com he offered me 6.79 %!

I went to the dealer and they said go for it we can't do better.

I called back the guy offering and it was a go, but I needed to get the exact figures so I called the dealer back.

I guess this was all kind s**t luck because the guy helping me was long distance and said he would give me 10min to call my dealer and he would call back.

So I called the dealer got the amount and explained I needed to get my financing elsewhere at 6.79% with BMO. So they looked it up again and said "Are you sure?" Yup I'm sure, ok then here's the amount. Thanks.

So I hang up and the phone rings. I answer and it's the dealer returning the call. Hey Sir, we can match that! LOL I think they caved. "We found the paper that states that rate! WOW miracle!"

So they matched it, done deal.

I called their bluff!

So DO NOT accept the first term they give you, be prepared to WALK! Tell them it's as simple as that you'll get financing elsewhere.

Just to let you know I went to 2 banks and they couldn't even give me that low of a rate!

Hi Wing,

I was approved for 7.15 from the Royal (for an 84 month term)... can you tell me who i need to call to get a lower rate? What term are you financing? Looks like you got a good rate ...congrats! I'm picking up my car this wed.. thanks much... cheers

I'm financing for 60 months. Your dealer should be able to provide the better rate but on 84 months that sounds like a good deal.

Mazda Canada's web site indicates a rate of 6.3 % for up to 60 months...

Personally I did better with BMO getting a rate of 5.75% for 4 yrs.

Unfortunately mazda's site is wrongo again!

It states 6.12% but the dealer wouldn't even come close. The dealer gave me bank rate which is nowhere near 6.12% hence the above 7.5% rate.

I dealt with another guy that was able to get me the lower rate with BMO.

Is that a variable rate at 5.75%? Because that seems low. Current prime is 4.5% usually variable is that + 1.5% or + 1% or something. So 5.75 fixed is awesome.

Actualy I told BMO that Mazda was offering me a fixed 5.75% for 4 or 5 yrs (You don't think a banker would actually take the time to research this do you?! Ha Ha). I wanted them to match it in order to keep my business. It took them several days but they got back to me "matching" Mazda's rate of a fixed 5.75% but only for a 4 year term. It's much easier (and cheaper) for me to do everything through the bank.

WOW, that's damn good then.

My bank said..... f u!
Then the dealer just called me 1 hour before i'm suppose to get my car and just said, 6.79% is variable. Sorry it's 7.65%!

FUCK!