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.
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.
Mazda 3
Starting MSRP: $21,000
Build: Sedan
City/highway MPG: 26/35
Mazda 6
Starting MSRP: $35,100
Build: Sedan
City/highway MPG: 26/35
MX-5
Starting MSRP: $25,730
Build: Sedan
City/highway MPG: 26/35
CX-3
Starting MSRP: $20,390
Build: SUV
City/highway MPG:27/34
CX-5
Starting MSRP: $24,350
Build: SUV
City/highway MPG: 22/27
CX-9
Starting MSRP: $25,850
Build: SUV
City/highway MPG: 18/22
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.
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:
Gas
Oil changes
Car maintenance
Registration and insurance
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.
The benefit lies in the matter of paying less interest. Your monthly payments will be higher, but you’ll be out of debt quicker.
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.
Alex Jeffs is the senior publisher for personal, car and business finance at Finder. He has been building websites since he was 14 years old and has tested cars everywhere from race tracks to Oodnadatta.
If you’re in the market for a car don’t miss out on this guide to buy a car, get all the info you need and a range of loans to help you get into your car sooner.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
