Last post on Jan 06, 2013 at 9:24 PM
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Mazda Millenia, Sedan
#2155 of 4030 2002 Mazda Millenia financing and Rebates, anyone?
Oct 26, 2002 (4:23 pm)
Hello, I am hoping that you could help me out. Shopping around for 2002 Millenia I see various ads: up to $5200 under invoice (supposedly dealer rebate), up to $7673 discounts and all ads mention 0% financing to qualified buyers. One dealer tells me that you can get either his rebate or 0% financing. Yet, financing is through Mazda. Are dealer rebates related to financing? Is it really either/or proposition? Is anyone aware of any incentives going on now on 2002 Millenia S? What did you guys pay for it?
Thanks a bunch!
Itching for a new car,
Oct 26, 2002 (6:22 pm)
The $5000 rebate is a Mazda incentive and you either take that or the 0% financing, You can't get both. I am close to a lease deal on a Millenia with a cap. cost (selling price) of $22160. That would be about $7200 below MSRP. I've run into a snag with financing the dealer couldn't get the previously quoted best rate and the price has gone up $17/mo. plus now security deposit of $600 is required and lease has been extended an additional 3 months. This ends up costing me over $1000 more on the deal. It's allegedly due to my own personal credit situation but the dealer has not offered to move at all on the deal to help me out. I still think that the value you get in this vehicle including the 50000 mile warranty and loaner car make this a good deal even at the higher price. However, in light of the situation I am going to wait a week or so and explore other options. Still think this car is the best deal going.
Oct 26, 2002 (9:20 pm)
I purchased a USED 2002 Mazda Millenia P with almost 16K miles on it for $19500. I put $1000 down and financed it for 6 years at 7.5% (will probably re-finance this after a year).
Anyways, I found this discussion list after I bought the car. Everyone was talking about getting a NEW MM P for $22-23K (and I knew about the 0% financing). I thought I blew it and made a bad choice.
But if it is true that a person cannot combine the $22-23K price range with the 0% financing, maybe I didn't do so bad after all. Can anyone confirm, deny, or comment? Thanks.
Oct 27, 2002 (5:19 am)
Have you tried running your own credit reports to get your score? That should give you an idea of whether your personal credit is as what they claim. The one time cost of running all three credit burau reports will easily be offset by the savings. My .02 cent.
Also, may I ask if you are looking at the Millenia S and if so, what other options are on it?
Thanks and good luck!
Oct 27, 2002 (3:23 pm)
Thanks for the suggestion. The claim is that my debt ratio is too high to be eligible for the best rate. Unfortunately, that is true though as far as the rest of my credit history I think I'm excellent. Honestly, this is all a nuisance and given the fact that the price is still competitive with or better than many similar class cars I'm deciding whether to just go ahead, try and get a little more off or check other options. I never really had credit problems so I don't know whether you can talk your way around some of these issues with certain lendors. Since it's the dealer who is dealing with the lendor rather than myself I don't know whether I could get alternate financing myself or whether you can arrange lease financing on your own in contrast to simply a loan for purchase. Part of the reason I'm willing to live with the situation is that the car is so well equipped and provides a level of luxury totally out of keeping with it's price. Therefore, while I may be paying a bit more than a car of this price should lease for, I'm getting a car with the amenties of a car that probably would lease for $100/mo. more than I will be paying.
I am looking at a P, not an S. The local dealers here in Michigan don't seem to have any S's in stock. If you do find an S I would imagine it would run more like $25000 than $22000.
Good luck in your Millenia shopping.
To Granada87: Buying a Millenia at around $22000 still would enable you to get a loan in the 6% area assuming you are not on lower tier credit. Therefore, the deal would be pretty good. Still at $19,500 you're still $2500-3000 below new and that could help with depreciation down the road. Don't sweat it. You've bought a very nice car and as we all know no one gets the best deal possible. We just hope to not get taken.
Oct 27, 2002 (3:43 pm)
the 0% financing can not be combined with the dealer cash incentive....it's either/or
Oct 28, 2002 (5:03 pm)
Try your local credit union or your company credit union (if it has one). They usually can give you a better rate if your credit isn't perfect.
Oct 29, 2002 (4:28 am)
Just bought a Millenia S last night. Got it for a just couple bills more than my 626, or about 8K less than a Max. Can't beat the product for the price. They're making incredible deals to make room for the 6. Too bad they had to kill the Millenia, but it worked out well for me!
This car is packed - leather, bose, decent power (not as peppy as the Nissan, but the styling, ride, and IMHO less road noise make up for that). Plus Mazda's reliability can't be touched.
This is Mazda purchase number 4 for me. I'm holding on to the 626, too. We're a two mazda family again!
Oct 29, 2002 (6:01 am)
Congratulations on your new buy. I cannot agree with you more, "can't beat the product for the price". Good luck.
#2164 of 4030 Still waiting on a deal
Oct 29, 2002 (2:15 pm)
I'm still waiting on a deal on the new Millenia. After they raised the lease price on me (ostensibly a credit issue) I figured I should at least see what other options were out there. We already know nothing beats the Millenia for the price so it would just be a matter of looking at something cheaper that I found reasonably appealing.
I settled on checking out the Nissan Altima. Got a quote on a 2.5SL (175hp I4) well equipped with leather (sticker $24000-$250000). They quoted a $397/mo 39 mo, lease. That's actually a couple of bucks more than my 42mo. Millenia quote. Nice car but nowhere near the car the Millenia is equipmentwise, warrantywise, etc.
Seems like unless I want a dinky compact I won't be quoted anything that much cheaper than the Millenia. Certainly won't jump ship for $20-$30.mo, and that seems the most I could expect to save going elsewhere.
For comparison, I leased a $27000 stickered Toyota Avalon in 96' with first and security up front for $385/mo., 36mo., 12000 mi. That car had no ABS, no CD, no moonroof, no heated seats, no traction control, etc.
So here in 2002 if I can do a deal on this car leasing under $400 with no cash up front (other than first and security) and they throw in free oil changes and of course a 50000 mile warranty and free loaner I guess the decision should be easy. I need to get the dealer to drop the $167 they added to the upfront money for no apparent reason. Frankly after hitting me for $700 more over the life of the lease and security I would hope they would move that much to close the deal. Expecting a little cash this week to cover the upfront so when I get it I'll try to close the deal.
The point of all this. Most everything in the midsize class will lease in the $300-$400 area. Nothing in that price range will give you everything you get on the Millenia.