Mazda Finance Center in Lynchburg, Virginia
Lynchburg Mazda offers an extensive selection of new and pre-owned vehicles. We accommodate a wide range of budgets by providing new Mazda financing and leasing options and flexible car loan programs for quality used SUVs, sedans and hatchbacks. Our knowledgeable finance team can help you secure a vehicle with competitive rates.
Mazda Financing at a Glance
If you're interested in leasing or buying a new vehicle, the finance department at Lynchburg Mazda assists you with securing the financing solution and monthly payment plan to match your budget and lifestyle. You may have done your Mazda research, but you still have questions about the financing package that best meets your needs. Our team is available to break down the options for you.
Don't let limited capital sideline your auto purchase. We work with various financial institutions to secure the most competitive car loan rates for your pre-owned vehicle selections.
How Mazda Financing Works
Once you select a vehicle you'd like to purchase, we typically begin the auto loan process by valuing your trade-in vehicle if relevant. That figure is deducted from the agreed-upon purchase price. At that point, we identify any manufacturer deals and ask you to complete a loan application to secure the most competitive lender rates through the following steps:
- Establish the down payment amount
- Confirm comfortable monthly payments
- Check your credit score
- Verify the loan duration (usually 36, 60 or 72 months)
- Shop lenders with low-APR financing based on credit score
You may qualify for a used auto loan preapproval with a lower credit score if you have a reasonable down payment and a stable work history. You typically benefit from the best financing deals with a higher score.
A marked advantage of purchasing rather than leasing a new vehicle is that you own it once you make the final payment. You may then decide to continue to drive it payment-free or sell it and recoup some of your investment.
It's important to remember that you're entering into a secured loan agreement, which means that the vehicle is considered collateral against the outstanding balance. In other words, if you default on the loan, your car can be repossessed.
How Mazda Leasing Works
Depending on your circumstances, leasing a new Mazda may be a more practical option than purchasing it. Rather than paying the full price for the vehicle, you pay for its usage within the prearranged time and mileage parameters.
The monthly payments are based on the vehicle's expected depreciation during the lease period, plus applicable dealer fees, taxes and interest. With that in mind, leasing could provide a number of advantages that aren't available when you finance a purchase.
- Typically, lower down payment and lower monthly payments
- Ability to drive a new car that might not be affordable if purchased
- Repairs usually covered under warranty
A standard leased vehicle's time agreement is generally between two and four years. You can return or purchase it at the end of the contract period. If you choose to return the vehicle, you may opt to lease another or simply walk away.
How to Qualify for Mazda Financing
Our finance department experts require the following information to pull your credit report:
- Social Security number
- Name
- Address
- Date of Birth
We will also need to make a copy of additional documents to include with your application:
- Proof of identity with a photograph, such as a driver's license, passport or work visa
- Proof of income from a recent check stub, bank statement, W-2 or a 1099 if self-employed
- Proof of residence like a recent utility bill, lease agreement or mortgage statement
- Trade-in vehicle title and registration
- Proof of insurance
- Down payment
Get in Touch With Us
Our knowledgeable staff at Lynchburg Mazda is dedicated to assisting you with finding a quality vehicle that meets your budgetary needs and lifestyle. We stand behind Mazda's new vehicle lineup, including the Mazda3, Mazda CX-9 and the Mazda CX-50. We're also proud of our quality preowned selection, ranging from sedans to SUVs, and our service and parts department.
Contact the Lynchburg Mazda team through our online form or by calling (888) 703-2149. We're available to answer your questions or schedule a test drive.
