We sat down with our resident Lead Business Manager (Finance), Kevin Mudie to go through some frequently asked questions we’ve had for Mazda Finance and Instant Asset Write Off. Let’s see what Kevin had to say!
What is Guaranteed Future Value?
Guaranteed Future Value (GFV) is an exciting new product from Mazda Finance that secures a minimum value your Mazda will be worth at the end of your loan. It locks in that amount as the final payment, so you’re able to make lower repayments over the course of the loan, whilst knowing you’re not going to be out of pocket at the end!
How does it work?
When you sit down with a Business Manager, they will run you through 3 very easy steps. First, you’ll need to figure out how much you’re borrowing – if you want to put any deposit towards it or if you’re trading a car. Next you’ll need to select a loan term – that can be anywhere from 1 to 4 years. Finally, you’ll need to estimate the number of KMs you’ll be driving. You’ll be able to select anywhere from 10,000km to 50,000km each year. The GFV will be calculated on the spot, along with your repayments, so you know exactly what to expect!
How do I apply?
We’re able to run through applications in person, over the phone, or even over email. Whatever suits you best and works within your own busy schedule.
How does a fixed loan work?
A fixed loan is a type of loan that locks the rate and repayments over the duration of the loan. This way, regardless of how the market changes you’ve got peace of mind knowing that your budgeted repayments will always stay the same.
What is a Mazda Tailored Rate?
Instead of ambiguously giving some a ‘rates from’ estimate, a Mazda Tailored Rate is just that – it’s tailored specifically to you, your credit score and several other things like asset backing, intended term of loan, and deposit. It takes 90 seconds to process and it isn’t even an enquiry on your credit file. It’s a soft touch, so it has no adverse effect on your score itself like multiple finance enquiries can.
You say lower monthly repayments, that sounds awesome, how does that work?
Using GFV, you’re able to lock in the value of your car at the end, so that you’re able to make lower repayments over the course of the loan, knowing that final payment is already taken care of when the time comes!
Do you need my credit score?
Using Mazda’s advanced system for quoting, they’ve taken the hard work out of it, and will give you a tailored rate quote specific to you. The best part is that it’s what is regarded as a ‘soft touch’ on your credit file, and wont show up as an enquiry unless you proceed with the application!
How do I know what my indicative repayments will be?
Once we prepare a tailored quote, we will let you know what your repayments will be over different loan terms and even with different deposits. Just like you tailor your new Mazda to suit exactly what you’re after, you’re able to do the same with Mazda Finance!
Do I need a deposit?
Not necessarily – often, you’re able to finance the entire amount of your new car. It can even be possible to get the money back for your old car and finance the total purchase price of your new Mazda and not just the changeover!
If you have any questions involved with Mazda Finance, Guaranteed Future Value or Instant Asset Write Off, please don’t hesitate to give us a call on (07) 3263 5333 or send Kevin an email on firstname.lastname@example.org