Mazda financing is super helpful, especially for new car buyers who don’t have hefty savings. When you invest in a car loan or lease, you can break down your car payments into smaller, more manageable monthly deposits.
It’s always worth it to fill out an application and see what you’re eligible for, and that’s where our dealers at Peruzzi Mazda come in.
How Does Credit Affect Financing?
When you apply for financing, you’re essentially submitting a risk assessment for the lender who would be facilitating your loan. If you have low credit or none at all, it’s harder to get a loan since you don’t have a credit history that can prove you’ll pay it back over time.
Getting MAZDA Financing with Low Credit
There are several ways that people with poor or no credit can obtain car financing. The easiest way would be to arrange a co-signer with better credit (for example, a parent or spouse) to sign your loan with you. By enlisting the help of a co-signer, lenders can analyze the credit history and income of that person. If that person’s credit checks out, lenders can trust that your car loan will get paid.
Another option is to make a sizable down payment. Not only will this lessen your monthly payments, but it will also be enough of an investment to offset some of the initial debt you’re incurring on the loan.
Come visit us at our Mazda dealership to learn what other finance options you have for your particular circumstance. We happily serve the greater Philadelphia area, and nothing is going to stop us from helping you drive home in a car you love. Stop by today!
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