blazerdude20 Posted September 26, 2008 Share Posted September 26, 2008 mazda is switching from fmcc to chase for loans and leases. http://www.leftlanenews.com/mazda-set-to-s...t-to-chase.html Quote Link to comment Share on other sites More sharing options...
7Mary3 Posted September 26, 2008 Share Posted September 26, 2008 Step 1 of a Mazda spin-off? Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted September 26, 2008 Share Posted September 26, 2008 Step 1 of a Mazda spin-off? I think they just wanted to get away From Ford's worsening credit score, but you never know. Quote Link to comment Share on other sites More sharing options...
BORG Posted September 27, 2008 Share Posted September 27, 2008 Mazda and Ford are less dependent on each other and are no longer developing technology together. I don't think Ford will have any other choice than to sell off its remaining stake in Mazda. Quote Link to comment Share on other sites More sharing options...
LincolnFan Posted September 27, 2008 Share Posted September 27, 2008 Mazda and Ford are less dependent on each other and are no longer developing technology together. I don't think Ford will have any other choice than to sell off its remaining stake in Mazda. Talk about ingratitude, they fix up their and company and all they can manage to say is "kthxbai!". Ingrateful Japs. Quote Link to comment Share on other sites More sharing options...
ExplorerDude Posted September 27, 2008 Share Posted September 27, 2008 I think this may be a sign of things to come sadly. Is Mazda beginning to become a drain on Ford? Quote Link to comment Share on other sites More sharing options...
ExplorerDude Posted September 27, 2008 Share Posted September 27, 2008 I think this may be a sign of things to come sadly. Is Mazda beginning to become a drain on Ford? Quote Link to comment Share on other sites More sharing options...
Michael Reynolds Posted September 27, 2008 Share Posted September 27, 2008 I think a lot of you are jumping to conclusions..... Maybe Ford Credit tightened the belt so much that Mazda felt as if it would be better to go without an outside creditor. Maybe Ford Credit could not extend credit lines that Mazda wanted. Maybe, Maybe, Maybe...... Quote Link to comment Share on other sites More sharing options...
Cougarpower Posted September 27, 2008 Share Posted September 27, 2008 people why do you always think the worse, what Mazda its doing its making a businees decision that will benefit the customers since it will be cheaper for you to finance a car since Chase has a better rating than Ford Credit Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted September 27, 2008 Share Posted September 27, 2008 Chase is probably the only bank on Wall Street right now with decent access to credit. Maybe BoA and Wells Fargo. Maybe. But WF exited the auto finance business a while back, I think. Anyway, I don't think this is preparation for a spin-off since retail financing is about the least consideration when it comes to designing, engineering, manufacturing, distributing, and selling a vehicle. Heck. Jaguar and Land Rover are probably still using Primus (the branch of FMCC that Mazda also used). As to Aston Martin? Well, if you have to ask about financing, you can't afford one. Quote Link to comment Share on other sites More sharing options...
elkarlo Posted September 27, 2008 Share Posted September 27, 2008 Mazda and Ford are less dependent on each other and are no longer developing technology together. I don't think Ford will have any other choice than to sell off its remaining stake in Mazda. How why would they be forced to sell? Even if Mazda walked away from all of Ford's platforms why wold Ford have to sell? Quote Link to comment Share on other sites More sharing options...
Hugh Posted September 27, 2008 Share Posted September 27, 2008 Mazda and Ford are less dependent on each other and are no longer developing technology together. I don't think Ford will have any other choice than to sell off its remaining stake in Mazda. I know this is not relevent to this thread but where did you get that? AFAIK, that is not the case regarding the tech sharing. Quote Link to comment Share on other sites More sharing options...
JagXFRGuy Posted September 27, 2008 Share Posted September 27, 2008 Christ..where do some of you get this bad information? Ford and Mazda don't share technology anymore????... Ford is trying to improve FMC's balance sheet and at the same time making sure that Mazda has the best availability of credit for both floor plans and customers...FMC is going to concentrate on Ford, Lincoln and Mercury brands. Quote Link to comment Share on other sites More sharing options...
mackinaw Posted September 27, 2008 Share Posted September 27, 2008 I think this may be a sign of things to come sadly. Is Mazda beginning to become a drain on Ford? Just the opposite, Mazda is making money, Ford isn't. Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted September 27, 2008 Share Posted September 27, 2008 people why do you always think the worse, what Mazda its doing its making a businees decision that will benefit the customers since it will be cheaper for you to finance a car since Chase has a better rating than Ford Credit I just saw a TV spot for Mazda6 advertsing a lease rate of $179/month with $2600 down. Not a bad deal and better lease rate than what Ford offers on Fusion I4. Looks like the change is already providing dividends. Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted September 27, 2008 Share Posted September 27, 2008 Christ..where do some of you get this bad information? Ford and Mazda don't share technology anymore????... Ford is trying to improve FMC's balance sheet and at the same time making sure that Mazda has the best availability of credit for both floor plans and customers...FMC is going to concentrate on Ford, Lincoln and Mercury brands. Don't share technology? Bullshit. The new drivetrain Escape shares drivetrain with new Tribute. The Mazda 6 with new 2.5L I4 and 6 speed auto shares it with 2010 Fusion I4 and looks like new 3.7L V6 is shared also. Last I looked, the new Mazda 6 is still built in same factory as Mustang. They share a lot and no changes whatsoever. Quote Link to comment Share on other sites More sharing options...
rmc523 Posted September 27, 2008 Share Posted September 27, 2008 (edited) Don't share technology? Bullshit. The new drivetrain Escape shares drivetrain with new Tribute. The Mazda 6 with new 2.5L I4 and 6 speed auto shares it with 2010 Fusion I4 and looks like new 3.7L V6 is shared also. Last I looked, the new Mazda 6 is still built in same factory as Mustang. They share a lot and no changes whatsoever. The CX-9 and Edge also share their front end architecture. And I believe Mazda's 3.7 is different from Ford/Lincoln's 3.7. Edited September 27, 2008 by rmc523 Quote Link to comment Share on other sites More sharing options...
elkarlo Posted September 27, 2008 Share Posted September 27, 2008 Don't share technology? Bullshit. The new drivetrain Escape shares drivetrain with new Tribute. The Mazda 6 with new 2.5L I4 and 6 speed auto shares it with 2010 Fusion I4 and looks like new 3.7L V6 is shared also. Last I looked, the new Mazda 6 is still built in same factory as Mustang. They share a lot and no changes whatsoever. Yeah I don't see how Mazda could walk away from Ford and survive. They would lose access to engines and transmissions, and safety copy rights. Plus they would have to ask Ford to buy out AAI, or buy Ford out. Really this is a pretty silly idea. Borg is pretty dumb. Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted September 27, 2008 Share Posted September 27, 2008 The CX-9 and Edge also share their front end architecture. And I believe Mazda's 3.7 is different from Ford/Lincoln's 3.7. In what way? I was looking at sticker on new Mazda6 with new 3.7L V6 and it has same hp rating as MKS and very similar EPA ratings. Looks like same engine to me. Fuel mileage and hp rating are pretty much identical. The Mazda 6 gets one extra mpg probably because it's a smaller vehicle. Quote Link to comment Share on other sites More sharing options...
chiefstang Posted September 27, 2008 Share Posted September 27, 2008 (edited) It doesn't surprise me, FMCC's rates are typically 3 points higher than any other bank's auto loans. Even their "incentivised" rates are just barely on par with what I can get my customers going through other banks. Couple that with their HORRIBLE lease programs, and it doesn't pay to use them. GM and Chrysler have done away with leasing, and I wouldn't be surprised to see Ford follow suit. They pretty much have. I haven't leased any cars to customers lately. They can go to Honda, Toyota, etc. and be hundreds of dollars less per month on a comparable vehicle. The Fusion has the best lease through Ford now, and the Nissan is about $150/mo. cheaper. Toyota's Camry lease is about $100/mo. less, and even with my employee discount, I can lease a Camry for $60/mo. less. Makes it pretty hard to sell these cars when we're that far out of whack. We don't really use Ford Credit on loans either. Why would I when I have to give the customer my buy rate to be competitive, whereas I can go through another bank, hold 2-3 points, and make the dealership money? Mazda is probibly just looking after their bottom line, like everyone else when times get tough. Edited September 27, 2008 by chiefstang Quote Link to comment Share on other sites More sharing options...
ironhorse Posted September 27, 2008 Share Posted September 27, 2008 (edited) I think a lot of you are jumping to conclusions..... Maybe Ford Credit tightened the belt so much that Mazda felt as if it would be better to go without an outside creditor. Maybe Ford Credit could not extend credit lines that Mazda wanted. Maybe, Maybe, Maybe...... You are right,tightening access to capital is the main reason for the move,Mazda will get their own funding from Chase. The sky is not falling....just a business decision For FMCC to fund Ford dealers. Edited September 27, 2008 by ironhorse Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.