Financing a new car is a big decision, so you'll want to know everything that you can before you sign on that dotted line. We get that, and that's why the Mazda finance department here at Heritage Mazda Towson is prepared to answer any questions that you have.
First you can check our list of frequently asked questions to see if we already have the answer you're looking for!
Is Financing Better than Leasing?
It really depends on your car buying habits and your driving needs. To simplify things, we think that financing is the best option for drivers who put a lot of mileage on their car, drivers who tend to keep cars for a long time, and anyone who likes to customize their vehicles.
Can I Finance with No or Bad Credit?
A good credit score does make it easier to qualify for a loan, but you may still be able to get a loan with bad credit or a lack of a credit history. You'll probably need a co-signer, which is someone who has better credit who is willing to sign onto the car loan with you. They would be responsible for the loan if you default.
How Does a Car Loan Affect my Credit?
A car loan can affect your credit in a few ways. If you apply for other loans or lines of credit, your loan shows up on your credit report. If you look like you have a bad debt to income ratio, that can affect your ability to get approved.
How you make your payments can also affect your credit. Late payments can have an adverse effect on your score, but a record of making all of your car payments on time can actually improve your credit.
Can I Finance a Pre-Owned Car?
You actually can finance a pre-owned Mazda vehicle. The interest rates are usually higher, but this is offset by the lower price of a pre-owned model.
If you want to learn more about the financing process, visit our new Mazda dealership. We're ready to assist you.
