Reducing the Cost of Poor Credit Loans

A current program from automaker Mazda could help some new and used car buyers with deficient credit lower their overall auto loan costs
Reducing the Cost of Poor Credit Loans
What we know

A program offered for the past two years by Mazda dealers could help car buyers with questionable credit who receive a loan approval through one of them save money on routine car maintenance.

We think this is a great program here at Auto Credit Express and we should know because for the past twenty years we’ve been helping consumers with problem credit searching for online car loans find those new car dealers that can offer them their best opportunities for car loan approvals.

We also realize that although not all buyers will get approved at a Mazda dealer, those that do should be aware of this program.

Specifically, here is what has to happen:

1. Buyers have to qualify for a new, used or certified used car at a franchised Mazda dealer (which doesn’t always happen)
2. The vehicles they qualify for must be Mazda models

If these terms are met, buyers with bad credit should know that Mazda does offer two affordable new cars (and their used counterparts) that will typically fit the budgets of problem credit consumers – the subcompact Mazda2 and the compact Mazda3.

Both the Mazda Mazda2 and Mazda Mazda3 are recommended cars by Consumer Reports and both these vehicles – in new, used or certified used condition – qualify for a maintenance program offered by Mazda.

Mazda Total Advantage Program

One area credit-challenged buyers should look at is vehicle maintenance – since a number of repossessions are a result of breakdowns due to a lack of upkeep (who wants to pay for a vehicle that doesn’t run?).

Back in July of 2011 Mazda announced the launch of a program for customers of new, used and certified pre-owned Mazda vehicles that it calls the Mazda Total Advantage Program. It involves pre-paying for a program of scheduled maintenance services with the ability to roll the cost into an auto loan.

According to Mazda, the program offers the “convenience and the value of factory-scheduled maintenance which can result in significant savings over the life of the maintenance plan versus purchasing services separately.”

Mazda program benefits

Mazda described these benefits to customers:

• Protect your investment with the value of Genuine Mazda Parts and Mazda trained technicians
• Guard against rising service costs by locking in the cost of vehicle maintenance
• Financing Options – ability to finance the maintenance cost into your monthly payment
• Provides Genuine Mazda parts, including Genuine Mazda Oil*
• Offers factory-scheduled maintenance services to protect potential resale values

*0w-20 synthetic oil included only for applicable models

The Bottom Line

Unforeseen maintenance expenses can be a problem especially for buyers on tight budgets that are financing their vehicles with high risk car loans. By rolling at least their scheduled maintenance expenses into their car payments, these buyers won’t have to ignore this maintenance if they’re short of cash.

Another good tip: Auto Credit Express matches applicants that have experienced car credit issues with dealers that can offer them their best chances for approved car loans.

So if you’re ready to establish your auto credit, you can begin now by filling out our online car loan application.

Posted on September 2, 2013 by in Backend Products
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