MAZDA Financing for First-Time Buyers Explained

The Mazda financing process can seem a little daunting to first-time buyers, but our team of friendly experts is here to help you from start to finish. Here’s what to know about buying your first car from the pros at Bakersfield Mazda.

MAZDA Financing Terms You Should Know

Familiarizing yourself with some key Mazda financing terms is a good first step to understanding the process. Equipping yourself with this knowledge also helps ensure you’re getting a great deal. Some common terms you’ll see include:

• Down payment: The cash you immediately put toward your loan, usually 10 to 20 percent of the sticker price.
• Principal: The total amount you’re borrowing to buy the car. You’ll make monthly principal payments throughout the loan.
• Interest rate: A fee you’ll pay in addition to the principal each month. Interest rates fluctuate based on the market, and your rate will be locked in when you sign the loan paperwork.

There’s one more term you should thoroughly understand: credit score. The higher your score, the more favorable Mazda financing terms you’ll get. You can boost your score by paying all of your bills on time and avoiding opening new credit card accounts.

Understanding Your Budget

Your overall vehicle expenses include more than what’s outlined in your Mazda financing offer. In addition to your upfront fees and monthly payments, you’ll also need to budget for fuel, routine and preventive maintenance, local registration fees, and insurance. If your home or workplace has paid parking spots, be sure to include parking in your budget as well.

Explore MAZDA Financing Options in Bakersfield, CA

Buying a car doesn’t have to be stressful. In fact, we actually make the Mazda financing process simple and easy! Visit our Bakersfield, CA, Mazda dealership to pick out your favorite vehicle and get a loan that works for your budget.