Ultimate new car finance guide
Why is my APR rate so high? Bank loans, on site purchase or setting up payment plans? McDonald Mazda explains.
Financing a vehicle is simply asking the dealership to borrow money and you pay the vehicle back usually with an interest rate that is based on your current credit score. At McDonald Mazda, we work with all types of credit. So whether you have good credit, bad credit and even no credit, we can help you get behind the Mazda of your dreams at the lowest price and interest rate.
Financing through McDonald Mazda Dealership
Many dealerships have their own finance department which makes it a lot easier on the consumer to finance a car right on the spot. Some dealerships even offer extremely low interest rates such as 0% APR for up to 60 months if qualified.
Lease, Loans and Personal Contract Plan
The benefits to leasing a vehicle- Personal Contract Plans are similar to hire purchase agreements but typically run for shorter periods of time.
Most PCP plans attach a specific a figure that is based on a forecasted estimate of the car and is based on your forecasted annual mileage.
Your monthly payments are then based on the difference between the forecasted value of the car and the present invoice price, making payments lower for the most part.
At the end of the lease period, the driver then has the option to pay the final installment and take full ownership over the car or pay nothing and start all over again.