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Vehicles

MORE HUMAN IN NATURE

We created the Mazda CX-50 to enhance your experience of the outdoors, so you can connect to nature, to the road, and everything along the way. Our latest i-Activ AWD technology connects you seamlessly to the terrain while Mazda Intelligent Drive (Mi-Drive) technology levels up the driving experience with off-road and sport driving modes to make every trip a thrilling ride.

EXPLORE THE MAZDA CX-50

PRECISION AND PERFORMANCE

The sculpted curves and bold contours of the Mazda3 makes it a standout in its class, with a refined, human-centric interior that will ignite the driver in you. Our latest Skyactiv engines combine outstanding performance with excellent fuel economy while offering responsiveness and that unique Mazda fun-to-drive feeling.

EXPLORE THE MAZDA3

LEAD WITH PURPOSE

Mazda’s first electric car represents a new standard in EV performance with 200 lb-ft torque and 143 hp, for an immediate response when you press the accelerator. From the sustainably sourced luxury materials in the cabin to the lightweight battery, our first-ever EV was designed holistically to produce fewer CO2 emissions during its entire lifecycle.

EXPLORE THE MAZDA MX-30 EV

DESIGNED TO MOVE YOU

The MX-5 Soft Top is informed by our human-centric engineering philosophy. From our advanced Skyactiv-Vehicle Dynamics for fuel-efficient driving to our new Kinematic Posture Control (KPC) to stabilize cornering posture, we are refining the classic roadster.

EXPLORE THE MAZDA MX-5 SOFT TOP
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FINANCING A VEHICLE

5 Minute Read

Looking to purchase a new vehicle, but want flexibility in how you pay for it? Financing a vehicle is a great option that many drivers turn to when they decide to buy a new vehicle.

Financing your vehicle allows you to manage your other expenses while making vehicle payments in small increments on a recurring basis. This guide will outline how vehicle financing works, and help you decide whether that’s the right option for you and your budget.


A CAR LOAN VS. CAR LEASE

If you are in the market for a new vehicle, you’ll want to consider the core differences between leasing and financing a vehicle. Understanding the core difference between these two payment options is the first step in determining what’s right for you:

VEHICLE FINANCING

When financing a vehicle, you agree to pay off your debt through a payment plan, which includes interest payments for the duration of the plan. Once you complete the car loan payment, the vehicle is officially owned by you.

VEHICLE LEASE

Leasing a vehicle is an option for drivers who want to drive the latest models. Leasing-to-own a vehicle is another option you should consider. Your monthly lease payments go towards eventually owning the vehicle at the end of the lease.

UNDERSTANDING INTEREST ON CAR PAYMENTS

When you agree to financing a vehicle and make recurring payments to the dealership or the bank, you will also pay a predetermined interest rate. Interest on vehicle payments comprises a few things:

Down Payment: How much of an initial down payment can you contribute to offset how much you owe through the car loan?

Credit Score: Does your credit history show that you are reliable to be approved for a loan?

Length of Loan: The shorter the term of your car loan, the lower the interest.

HOW TO QUALIFY FOR FINANCING

Criteria for approval on vehicle financing approvals include: Your Income: Do you have a steady stream of income to make payments on time? Credit Score: Does your credit history show that you are reliable and capable of making recurring car payments?

Driver’s Licence: Do you have a valid driver’s licence?

Age Requirement: Do you fulfill the age limit in your province to be approved for a car loan?

Fulfilling the car loan criteria above is the minimum requirement necessary to finance a vehicle and is subject to the vehicle dealership or bank institution that you are requesting a car loan from.

COST OF PURCHASE

Establishing your target price range and identifying vehicles within it is the first step in determining what financial option is right for you.

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