Modern Mazda

Be careful allowing Modern Mazda to handle your financing - I recently purchased a Pre-Certified Used 2015 Mazda 3. When I sat down to "do the numbers" with my Salesman "Fish" my monthly payment was based on an estimated 4.99% interest rate with a $1000 down payment. I mentioned to Fish that I have excellent Credit, he said the rate would be lower if that were the case. When it was time to sit with the Sales Manager, Crystal, the document she handed me showed a rate of 5.99% which in my opinion is very high considering Crystal also showed me my Credit Report which has me with a score of 813. I questioned her about the high rate at which point she went on her computer and claimed she was corresponding w/the bank. She said it could be lowered to 5.49% and her reason behind this was because I was actually putting $2000 down instead of $1000 they could give me the lower 5.49%. She also told me banks handle financing differently on Used vehicles, rates are generally higher. I should have gone with my gut feeling and not signed the document! In my opinion the dealership could have offered me a much lower rate based on my Credit Score alone. I went back to the dealership to speak with a Manager, I believe his name is Mike. I explained my concerns regarding the high interest rate, he basically told me to refinance the loan. I was also informed that the Salesman had mis-quoted the 4.99%. So now I have to deal with the hassle of refinancing the loan and pay the fee associated with refinancing. And the rates I am being quoted to refinance for someone with my Credit Score, is 2.49%. I've learned a lesson, do your research BEFORE going to the dealership.