Car buyers with problem credit looking for a car loan will appreciate the fact that Mazda recently extended the buyback protection portion of their certified pre owned program
While it isn't as far reaching as the changes announced last year by Volkswagen and Chrysler, the recent changes made by Mazda to their certified used car program mean that car buyers with questionable credit can now shop with greater confidence once they've received a car loan approval at a Mazda dealer.
Here at Auto Credit Express we thing this is a good thing and we should know. That's because for the past two decades we've been helping car buyers with bad credit find those dealers that can give them their best chances for approved auto loans.
Used car choices
In most cases the subprime car loans offered by these dealers will be used to finance used cars because, for the most part, they're more affordable than a comparable new one. In fact, the used car market has been and continues to grow not only because they're less expensive but also because manufacturers have created an entirely new category of used cars - one that falls between traditional used cars and new cars.
Certified used cars
Manufacturers call these vehicles certified pre owned (CPO for short) cars although practically everyone else refers to them as certified used cars. But whatever you call them most certified used car programs work something like this: To qualify for one of these programs, vehicles (normally only those from the manufacturer certifying them) must meet certain age, mileage and inspection requirements. Following the required replacement of specific worn, broken or defective parts, dealers can then sell them – usually at a premium price because of the costs involved - with a manufacturer-backed extended warranty (really a used car service contract).
What is and is not covered and for how long varies widely depending on the manufacturer. And speaking of manufacturers, it wasn't that long ago that Mazda announced some enhancements their CPO program.
Mazda certified used cars
In the announcement Mazda stated that it had renewed its agreement with Experian Automotive as the exclusive provider of vehicle history reports – called AutoCheck reports - to its certified used car program. In addition to this, all Mazda certified used cars will now come with a three year AutoCheck Buyback Protection program.
This means that, "If a certain title brand is found after the vehicle is reported to be free of the brand the AutoCheck Buyback Protection program covers what the customer paid for the vehicle (up to 110 percent of the NADAguides.com published retail value)" along with additional protection that could cover up to $500 in aftermarket accessories.
For credit-challenged car buyers it also helps that there are a number of affordable Mazda used cars that could fit their budgets – namely, the Mazda2 subcompact, Mazda3 compact and Mazda5 compact minivan.
As we see it
By including buyback protection program for their certified used cars, Mazda has given all buyers – including those with low credit scores – even greater peace of mind when choosing one of these vehicles from one of their franchised new car dealers.
One more thing you should know: at Auto Credit Express we specialize in helping applicants with problem credit find those dealers that can give them their best opportunities for auto loan approvals.
So if you're ready to reestablish your car credit, you can begin now by filling out our online auto loans application.