For most drivers, financing is an integral aspect of the car-buying experience. If you’re new to the automobile financing process, it may seem intimidating, but here at Russell & Smith Mazda, our team of friendly Mazda financial professionals is ready to walk you through the process step by step. Here is an overview of the ins and outs of Mazda financing.
Credit Check and Pre-Approval
Before diving into the exciting world of being a Mazda owner, it is recommended that you check your credit score to ensure that everything looks correct. This step will help provide insight into the type of interest rate that you can expect. Here at Russell & Smith Mazda, we offer pre-approval for Mazda financing, which streamlines the process and gives you a clearer focus on the terms you can expect.
Down Payment
The amount that you put down upfront to start financing is known as the down payment. Putting down a higher down payment allows you to reduce your monthly payments and the overall cost of the vehicle.
Loan Terms and Interest Rates
Mazda financing allows you to choose from various loan terms, which typically range from 24 to 72 months. The shorter your loan term is, the higher your monthly payments will be, but on the other hand, you’ll pay more interest over time for longer loan terms.
The largest factor that goes into the interest rate is your credit score, so it’s a good idea to make sure that your credit score is in good shape before beginning your Mazda financing journey.
MAZDA Financing in Houston, TX
Now that you understand a little bit more about the intricacies of Mazda financing, it is time to get the ball rolling for your new car purchase. Pay a visit to Russell & Smith Mazda to start the process today!
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