Car Financing Tips

Car Financing Tips

Some Valuable Car Financing Tips from Airport Mazda of Toronto

Buying a new car and obtaining financing for it can be a daunting task, but luckily, we're committed to making easy work of your next purchase. If you've got your eye on a model from our new inventory, allow Airport Mazda of Toronto to fill you in on a few valuable car financing tips before you visit us in Toronto, ON.

What Credit Score is Needed for a Car?

Whatever your credit score, our finance centre can help you obtain financing for your next vehicle. That said, the flexibility in your terms and car loan rate depends directly on your credit score. A lower score often means higher interest rates and may require a larger down payment, while a higher score opens you to various car financing options and other potential benefits such as zero-percent financing. We recommend obtaining your credit score before applying for financing or contacting us directly for details on what terms your current score can get you.

How Much Can You Negotiate on a New Car?

Our inventory boasts plenty of options for a variety of budgets, and we'll be happy to help you obtain financing as needed. Our staff will fill you in on any incentives or benefits like cash rebates that may come with your purchase-to-be, and we'll always be thorough in presenting you with all the car financing options available to you given your credit score and budget. If you intend to trade in your current vehicle against your purchase, we can always negotiate a price on it together before working it into the terms on your next car.

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Calculate Your Down Payment on a Car

Your down payment is just as crucial to your purchase as your credit score. Down payments typically amount to about 20 percent of the sales price, but the bigger your payment upfront, the better off you'll be long-term. Larger down payments mean lower monthly payments, allowing you to build positive equity in your vehicle more quickly than with a longer financing term. Trading in your current vehicle can also lighten the financial load on your next one. Before you make your way to our dealership for your next purchase, you can take some of the guesswork out by calculating your down payment-to-be and assessing your trade-in value with our user-friendly online tools.

For more on how Airport Mazda of Toronto can help you obtain flexible terms on your new or used vehicle, feel free to contact us at your convenience, and a member of our staff will fill you in.