Compare Mazda financing options

Thinking about buying a Mazda? Unless you can afford a $20,000 price tag, you’ll want to look into your financing options first. Find out where and how to get the best deal available to you.

How can I finance a new Mazda?

There are a variety of options available when it comes to getting a new car. These include:

• • Secured car loans. Uses your new Mazda as collateral to get more favorable rates and terms on your loan.
  • Unsecured loans. This loan doesn’t require collateral and cna be used to cover extra costs that come with buying a Mazda like registration fees. But you’ll need excellent credit to qualify.
  • Mazda financing. Mazda often offers lease and loan financing offers directly through dealerships. Borrowers typically also need excellent credit to qualify for the lowest rates.

Compare available financing options for a Mazda

How much does a new Mazda cost?

Although a big part of buying a car is the dealership negotiations, it helps to know the base price of the model you’re looking at. The basic trim of the 2019 CX-3 starts at $20,390 while the 2019 Mazda 6 begins at $35,100 — but the actual cost will depend on negotiation, add-ons and your location.

These prices reflect Mazda’s Sport category. You should expect to pay more for the Touring and Grand Touring categories. Keep in mind that the more features you want you car to have, the pricier it’ll end up.

Should I go for Mazda financing?

Financing through Mazad might seem tempting — you can get it directly through your dealer and don’t have to do any research ahead of time. But keep in mind that those low rates typically only go to borrowers with excellent credit.

It’s also worth noting that Mazda provides car loans through an outside lender and not all offers are available in all states. If you’re really interested in getting a good deal, you might want to shop around to see what’s available to you.

Compare your Mazda loan options

What should I know before I finance a Mazda?

Here are a few things to consider before deciding to finance a Mazda.

• Fees. Find out about any fees that come along with your potential loan. Upfront fees you could see are application and origination fees, while ongoing fees are monthly payments or any annual fees.
• Loan term. Loan terms can range anywhere from one to seven years. Figure out realistically how quickly you can afford to pay off your loan and find the loan term that can satisfy your needs.
• Interest rates. Compare interest rates to find the lowest and best rate. Your interest rate impacts your payments and the overall cost of your loan.
• APR. Check out the APR on any loans you might be interested in as this gives you more of an idea as to how much the loan will actually cost overall.
• How much you need to borrow. Keep in mind that the loan amounts vary by lender. When applying for loans, aim for an amount the covers the cost of the vehicle, plus any fees or taxes.

3 tips when comparing financing options

• Can you afford it? Make sure monthly loan payments are something you can afford before taking on a loan and getting caught up in the feeling of that new car.
• Are payments flexible? Make sure the loan you get allows additional payments or early repayment of the loan without penalty — these convenient features can save you money.
• Do your research. Consider all your available finance options and figure out if you’ve found the best loan option. If you’re not thrilled with the rate and terms, there’s definitely a loan out there that’s more suitable if you look around.

Costs to consider before applying for Mazda financing

It’s also important to think about the car’s running costs. Although you might be able to afford the loan payments for the car, you need to factor in costs such as:

It’s important to factor in these expenses before applying for a car loan. You should also consider whether or not the minimum payments will leave you with enough money to cover other ongoing expenses in your life.

Compare car loans to buy a Mazda

Frequently asked questions

• What's the benefit of taking a shorter loan term?

  The benefit lies in the matter of paying less interest. Your monthly payments will be higher, but you’ll be out of debt quicker.

• How long does it take to buy a car from a dealer?

  If you’ve done all of your research and know which make and model you’d like, paperwork and prepping the car to drive off the lot can take anywhere from two to four hours — factor in extra time for negotiation.

• Can I start the process online?

  Yes. Many auto lenders offer online approval. You can apply online and get preapproved. This will help you know what purchase amount you can afford once you go to the dealership.