How Your Tax Refund Can Save You Money on MAZDA Financing

There are many perks to using Mazda financing for your next vehicle. However, you’ll see even more benefits by applying your tax refund to your purchase. Mazda of Wooster highlights how your tax refund can help you save money on your next new vehicle.

How Does Financing Work?

When you apply for an auto loan for your new Mazda car or SUV, that is known as financing. The loan lets you pay for the vehicle over time instead of all at once. You’ll receive a lien, and you’ll be responsible for paying back your loan in monthly payments. Once it’s paid off, you’ll own your vehicle outright.

What is Involved in Financing?

Outside of one-time fees and taxes, your auto loan also accrues interest over its term. Your interest is calculated as a percentage of what you borrow. When you apply for your loan, you’ll get an interest rate, which is dependent on your credit score and general creditworthiness.

How Does My Tax Refund Help?

You can apply your tax refund as a down payment for your new Mazda vehicle. This reduces how much you’ll need to finance overall. Since your interest is a percentage of your total loan, you’ll owe less interest overall. This can help you save significantly on your vehicle purchase.

Will I Have Lower Car Payments?

By financing a smaller amount, you can certainly benefit from lower car payments. If you prefer, you can opt to shorten your loan’s total length instead, so you’ll pay your car off sooner. This also helps you build up equity in your vehicle even faster.

Apply for MAZDA Financing in Wooster, OH

We provide a streamlined Mazda financing application process at Mazda of Wooster. You can apply in a matter of minutes. Stop in to get started today!

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