Stress-free Mazda financing & leasing
Mazda financing made simple
Our online calculator helps you find the best financial fit for your lifestyle and budget
Choose a payment
Check your credit rating without impact on your score! Your score will influence the interest rates on your loan. Financing is available for all credit situations.
Go Mazda finance advantages
We will find the right monthly payments for your budget, regardless of your credit score. You can pay for your car by borrowing, leasing, or with cash in the form of a certified cheque or bank draft.
Buying for the first time?
If you're young or new to Canada, this may be the first time you've bought a car! So you probably don't have a credit history. No worries. We're connected to Canada’s big banks and can access financing or leasing packages for your circumstances.
Poor credit score
You might have a bad credit score or declared bankruptcy. If so, you may have been refused a bank loan. We can help in this kind of situation. Our options cover all kinds of credit circumstances. Go Mazda's Finance team will get you a solution that's affordable and fits your budget.
New to Canada?
You may not be aware that your credit score does not transfer when you relocate to Canada. However, the positive news is that we can still help you qualify for a loan, enabling you to purchase your first car in Canada in no time!
An existing loan with a high rate
Paying high interest rates on your existing loan can really impact your budget, and we can help. Our parent company, Go Auto, can buy out your existing loan and get you a better finance rate to lower your payments.
Finance vs. lease?
When deciding on financing versus leasing, what's right for one person can be totally wrong for another.
Here's what you need for approval
Employment & income
You need to meet two criteria to qualify for a loan. Firstly, you need to be employed at your current job for a minimum of three months. Secondly, your monthly earnings should be at least $1,800. It's worth noting that alternative sources of income such as government assistance or a pension will be considered.
While it is possible to go without a down payment, a payment towards your new or pre-used Mazda definitely helps. The larger the down payment, the less you will need to finance and the greater the likelihood a lender will approve a loan.
To be eligible, you must have a valid driver's license and have reached the age of majority in the province of your residence.
To complete your loan documents, you will need to provide the lender with your current address details. You will also need to include your monthly rent or mortgage payments and how long you’ve lived there.
Lenders will need you to set up a recurring monthly payment, which will be automatically withdrawn from your account. To get started, you will need to provide them with either a void cheque or a standard pre-authorized payment form.
You will be required to provide your full name, date of birth, phone number, and email address to apply for a car loan.
Our list of lenders includes:
ATB, Bank of Montreal, Mazda Canada, Royal Bank, Scotia Bank, Scotia Dealer Advantage, Servus Credit Union, Carfino, TD Canada Trust, WS Leasing, and Dominion Leasing.
Mazda Owner Loyalty Program
Go Mazda rewards Mazda owners with up to $1,000 in loyalty cash or a discounted interest rate to buy a new or certified pre-owned Mazda.
Customer eligibility - All current Mazda customers or family members are eligible:
- Any customer who currently owns a Mazda vehicle. (You do not have to be the original owner the Mazda)
- Family members who reside at the same address as the current Mazda owner
Vehicle eligibility - Any new or certified pre-owned vehicle that was financed or leased through Mazda Financial Services is eligible.
Note: owner loyalty offers are non-transferable and may be extended at Mazda Canada’s discretion.
Get the new Go Auto App
Download the Go Auto App to start earning Go Card rewards today!
What Should I Bring to My Finance Appointment?
All buyers should bring: 1. Valid government-issued driver's license 2. Current paystub 3. Void Cheque Depending on the specifics of your purchase, you may be required to bring additional information. For a complete list of what you'll need to buy or trade in a vehicle with Go Auto, call the dealership ahead of time and speak with a Sales Consultant.
Will I be approved?
Four main factors determine whether you get approved for a car loan:
1. Vehicle selection -- Cost, age, and mileage
2. Application information -- Employment history, residence, and income
3. Credit history -- Information contained in your credit file
4. Down payment -- Total of cash and trade equity
For the best chance of approval, and the lowest monthly payment possible, try to select a vehicle that fits your budget. Also, provide as large of a down payment as you can.
How are my car payments calculated?
Once you're approved for a car loan, three factors will affect your monthly payment (in order of importance):
1. Amount financed
2. Term or length of contract
3. Annual Percentage Rate (APR)
We offer competitive rates from a variety of finance companies to fit nearly every budget and credit profile. You can learn more about your personal finance options at any Go Auto dealership.
What is my credit score?
Your credit score is a number that helps financial institutions predict the risk associated with your purchase of a car, house, credit card, etc. Typically, your credit score ranges from about 350 to 850, and is essentially meant to forecast how (and if) you will pay your bills. In general, the higher your credit score, the more likely you are to get approved for a car loan.
The systems that generate your credit score look at your credit report, and take several factors into account when determining your credit score, including, for instance, your payment history, and the number of inquiries made on your credit report.
How is my credit score calculated?
Your credit score is a number that ranges from about 350 to 850. In general, the higher the number, the more likely you are to get approved for a car loan. The systems that generate your credit score look at your credit report and take several factors into account, including:
- The timeliness of your payments, including late payments
- The amount and type of debt you have
- The number and age of your credit accounts
- Inquiries created by applying for credit
- Public records such as liens and judgments.
Should I finance or lease?
Do you prefer to drive a new vehicle that will always be under warranty every few years? That's one advantage of leasing. Do you prefer to build up equity and drive one car for a long time? Then consider financing.
There are all sorts of factors to consider when choosing between financing and leasing. Luckily, we have a team of finance experts who are Happy to Help you find the best option for you. Call 780 436-9970 or any Go Auto dealership to schedule a free consultation.
Can I qualify for Mazda financing on my first vehicle?
Yes! Many Go Auto customers qualify for financing on their first vehicle purchase.
If a normal credit determination cannot be made based on your current credit history, you may still qualify for other programs, like those for recent college graduates.
Stipulations for college students vary by finance company. Check with a finance professional at any of our Go Auto dealerships for more information.
What are Mazda's current finance rates?
Mazda Canada releases new financing rates almost every month, so be sure to check back often to see the latest deals available.
Interest rates are based on Canada's prime rate and can go up or down based on prime rates. Contact the Go Mazda team to get started on your car buying journey with the most up to date finance rates available OAC.
How long does Mazda Finance take for a pre-approval?
With the Go Mazda team, pre-approval can take as little as a few minutes or up to several days depending on your circumstances, lenders, and the day of the week (most lenders are open during week days) We work with all the major lenders and our own in-house financing team to ensure we’re getting you as many financing options as possible.
What credit score is needed for Mazda financing?
Mazda financing doesn’t set a needed credit score to qualify for a loan. In general, to qualify for a car loan in Canada, you’ll need a credit score between 630 and 650. The more confident the lender is in your credit history, the lower the interest rate you'll receive for that car loan.
If you have bad credit or no credit, don’t worry. The Go Mazda team is experienced with all credit situations and will be able to get you approved with one of our lenders!
Can I pay off my Mazda loan early without incurring penalties?
Yes! All Mazda loans are open, meaning you can pay out the finance contract at any time without penalties!