How Long Can You Finance a MAZDA Car For?
When you decide to finance a Mazda sedan or SUV, this means that you will take out a loan to pay for it, and it will be up to you to decide how long you will have to pay back that money. Here our Mazda financial services department goes over the different choices you have.
Loan Term Options
One of the most important things to think about when financing is the loan term, which is its length. These generally start at 24 months, but you may be able to get one as long as 84 months. The average loan a car buyer takes out is for 60 months.
Short, Long, or in the Middle?
Whether it’s a short- or long-term loan or somewhere in the middle, they all have pros and cons. Clearly the biggest benefit to going with a shorter term is that you get to pay it off faster and avoid interest payments. The downside, however, is that your monthly payments will be higher.
Conversely, a longer-term loan shrinks those payments, but you will end up paying additional interest. This is why opting for one in the middle could be your best move, is this can result in very reasonable payments and help you mitigate some of the interest.
Let El Dorado MAZDA Help You With Financing
If you’re not sure which loan term is right for you, El Dorado Mazda near Dallas can help you make a good decision. Plus, we make the financing process as simple as possible. You can start it right now by filling out our online application to get pre-approved for your loan.