MAZDA Financing for Beginners
Submit a document for car loan
Mazda financing can seem intimidating, even for seasoned car shoppers. That’s why we accompany our customers through every step of the process. For car-buying beginners, this provides great peace of mind and ensures you get the best deal possible — here are the basics.
What Is Car Financing?
When you get car financing at Superior Mazda, you borrow money (in the form of a loan) to buy the car right away. You then repay this loan over a set period of time, called the “term” of the loan. Loan terms vary in length, typically from 36 months to 72 months.
Every month during the loan term, you as the car owner make a monthly payment that goes towards paying off the loan. This payment also includes interest, which is a yearly charge assessed for borrowing the money. Once the loan is paid off, you take full ownership of the car.
What Is a Down Payment?
A down payment is a sum of money that you give us when you purchase the car. The larger the down payment, the lower your monthly payments. The recommended down payment amount is 20 percent of the vehicle price.
Another option for lowering or eliminating your down payment is to trade in your car to us. Once you’ve traded in your old vehicle, you can then put the value towards your next car.
What Is a Car Lease?
If you’d like to minimize your monthly payments and you don’t mind not owning a car, consider a car lease. You can think of a lease as a long-term rental: you never own the car, and at the end of the lease term — usually 36 months — you return the car to our showroom.
Leases are appealing because your monthly payment is almost always lower than what it would be if you financed a car, and you also don’t have to make as big of a down payment. Also, a lease allows you to drive a different new Mazda car every few years, as opposed to the same car for many years.
Get MAZDA Financing Today
From beginners to seasoned car shoppers, our Mazda dealers in Bentonville, AR take pride in helping customers of all backgrounds secure Mazda financing for a new car. Contact us today so we can help you get preapproved for financing and bring you one step closer to a brand-new automobile.