FAQs About Financing

Find the Answers to Your Frequently Asked Auto Financing Questions from the Team at Byers Mazda

For many folks in the Westerville, OH area and beyond, auto financing can be a very confusing subject.  There are lots of car shoppers who dread buying or leasing a new Mazda because they are anxious about not understanding the process.  At Byers Mazda, located at 2455 Billingsley Road in Columbus, OH, we want every customer to feel like they have what they need to make educated decisions about their auto loan or Mazda lease agreement.  In the past, we have served as a resource for many customers in the Hilliard, OH area in the area of car financing.  It is one of the reasons we have complied a list of frequently asked financing questions and their answers.

Frequently Asked Questions

Why is Financing a Good Option?

Financing allows you to break down the total cost of a vehicle into smaller, more manageable, monthly installments.  While the vast majority of folks may not have the money to buy a car outright, they do have the space in their monthly budget to fit in an installment payment for a new car.  Since vehicles are necessary for many on their daily commute to Dublin, OH, financing makes owning a new vehicle a possibility.

What if I Don't Have Good Credit?

We know that having poor credit can cause a lot of stress for car shoppers.  Having credit challenges can mean that you will have a higher interest rate, a not-as-favorable term, and you might need to put down more money.  The finance center at Byers Mazda has worked with many folks with bad credit in the Worthington, OH area.  We specialize in helping people who need a second chance find affordable auto financing options.

How Do Interest Rates Work?

Interest rates are based on risk.  If a bank or credit union believes that there is a higher risk that they won't get the money they lend you back, they will charge a higher interest rate.  A lot of factors go into determining risk, including your credit profile.  Luckily, the finance center at Byers Mazda has many years of experience in working with people all of credit levels.  We also have a strong relationship with our lending partners, which allows us to often secure interest rates that are better than what a customer could have gotten on their own.

How Can Byers Mazda Help Me?

There are many ways that the finance team at Byers Mazda can assist you with your auto financing needs.  First, we have Mazda financing specials and lease deals on popular new Mazda models, like the Mazda CX-5, Mazda CX-9, CX-30, and Mazda3.  Additionally, we often have many financing deals that require no money down.

Drivers may also be attracted to the fact that we have a guaranteed financing program.  It doesn't matter whether you have excellent credit, bad credit, or no credit at all, our finance professionals will find an option for you.  Our many years of experience in the auto finance industry also means that you will have all of your questions answered.

How is My Monthly Payment Determined?

Your monthly payment is determined by the amount you are financing, your interest rate, and the term you have to pay it back.  A lease payment is very similar except that you are only financing the portion of the vehicle you are using.

Putting money down when you are financing, or leasing, will reduce your monthly payment.  It is one of the big advantages of putting money down when you are buying or leasing a new vehicle.

Contact Our Team

Byers Mazda, in Columbus, OH, knows that auto financing can be stressful for many people.  We also know that it can inspire a lot of questions when applying for financing.  Contact our finance team with any questions today, so we can do our part to make you a more confident car shopper when you arrive at our dealership.


Byers Mazda

2435 Billingsley Road
Directions Columbus, OH 43235

  • Sales: 614-714-5780
  • Service: 614-502-5217
  • Parts: 614-963-8449

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