what does cash incentive mean?

[ken]

In this thread:

http://torontomazda3.com/forum/read.php?TID=4444

Does a cash incentive of $1500 means deducting the after tax price of the car by the $1500?

[Cardinal Fang]

The deduction is made before the taxes and other charges are added in tax.

[Marcelino]

Im purchasing the Mazda 3 monday, It was scheduled 4 Saturday but the dealership closed @ 6 and the Benfica/Sporting game was at like 3:30 so I had no chance to have both! We were then planning to get it on Sunday, but the DufferinMazda is closed, so we postponed 4 Monday, THIS CASH INCENTIVE??Is this a deduction in the price?? Does it apply to everyone??What!, so you just ask 4 this incentive when you\'re paying??

[ds2chan]

cash incentive means that if you pay the whole thing up front without financing the car through Mazda then they will knock off $1500 off the price.. but how you get the cash is up to you.. eg, you could borrow from the bank and pay the bank back.. and if you take that cash from the bank to Mazda then to Mazda you\'re paying the whole car off yourself so they will take $1500 off the price..

[ken]

Can this cash incentive deduction be applied on the neogiated purchasing price?

[ds2chan]

Originally posted by ken


Can this cash incentive deduction be applied on the neogiated purchasing price?

yes.. I think the discount gets taken off before the taxes but TheBiz and the salesperson u\'r dealing with could answer that..

[justletmepost]

That $1500 cash incentive is for the new 2005 Mazda 3 (if you can still find one).
The cash incentive is for the 2006 model is $850.

The good thing about buying at the end of the month is if you go with the mazda financing and the dealership doesn\'t have the car you want on the lot before their incentives change at the begining of the next month you will get the better rate if they go down. If the rates go up, you get to keep the better rate from the previous month.

Example: I bought my car on December 29 the rates for a 3yr term (purchase not lease) was 4.9%. I asked for a car that wasn\'t on any dealer lot (so a car that was on \"the rail\" (on the delivery train from Vancouver) or in \"port\" (Vancouver). That way, the car shouldn\'t have been test driven by anyone and they wouldn\'t be able to receive the car before January 3rd (the date the incentives change). The 3yr rate for this month went down to 2.9%. That was the rate I got (2% lower than the previous month). If it would have gone up, I would have already been pre-approved for the 4.9%.

The down side for a \"rail\" or \"port\" car is the 3 to 4 week wait to get the car.

NOTE: THE ABOVE DOES NOT APPLY TO THE CASH BACK. If the cash back amount changes before the dealership receives the car, that is the amount you will get. You can\'t \"lock\" in to the better rate.

Of course, you should verify this with the financial person at the dealership, not the sales person because some of them (not all) tend to get this stuff wrong. Or it might be different from one dealership to the next.

Good luck and happy negotiating.

[Jeff-TheBiz]

Originally posted by Marcelino

THIS CASH INCENTIVE??Is this a deduction in the price?? Does it apply to everyone??What!, so you just ask 4 this incentive when you\'re paying??

Yes, it applies to everyone, but only if you are paying cash (not using the subvented rates that the dealership offers through Bank of Nova Scotia).

And this is taken off before tax and before a negotiated price.

And Grad Rebate is still available.

If a dealership doesn\'t tell you about this.. what else are they not telling you?

[Jeff-TheBiz]

Originally posted by justletmepost


That $1500 cash incentive is for the new 2005 Mazda 3 (if you can still find one).


I still have a couple Mazda3 Sports :D