Mazda Finance Review

Our comprehensive review covers how Mazda Finance works, the basics of Mazda Future Value (MFV), financing costs, pros and cons, dealership-specific offers, alternatives, and answers to frequently asked questions.

Updated 1 January 2025

Summary

Mazda Finance is pivotal in making Mazda vehicles accessible to thousands of New Zealanders annually. Mazda Finance offers finance leases and operating leases; this review focuses on its tailored finance offering, which competes with car finance offered by banks and specialist lenders.
Whether you're buying a new Mazda or a used Mazda, Mazda Finance works with its dealers to offer fixed-term finance with repayment terms between 2 and 5 years.
Mazda Finance is connected to Mazda dealerships nationwide, simplifying the process of securing finance directly at the point of sale. While this offers convenience, given that customers can arrange financing and vehicle purchases in one seamless transaction, the interest rates and fees may not be the best available. For this reason, we suggest getting quotes from leading car lenders before visiting a Mazda dealership so you have something to compare and limit the risk of overpaying.
If you're buying a Mazda and plan to finance it, you do not have to use Mazda Finance. This review explains what Mazda Finance offers, but it's only one of many options - our car loan comparison guide has alternatives.

To help explain Mazda Finance in detail, our review covers:

Know This First: Finance Deals Differ Between Mazda Dealerships
While Mazda Finance is a centralised offering backed (surprisingly) by Toyota Financial Services, the specific promotions and terms can vary significantly between dealerships. For example:

One dealership might offer 0% finance, as shown in the example from Armstrong Mazda in a historical promotion.
Another dealership might advertise 4.9% finance on specific Mazda models, as seen in the example from Farview Mazda specific to new CX-30s for sale in a historical promotion. Another historical example sees Haven Mazda offer 5.9% finance. Please note that these offers are historical and included to demonstrate the difference in finance offers by dealer.
These variations arise because each dealership has autonomy in structuring promotions to attract local customers. Factors such as dealership location, inventory levels and customer demand influence the deals they offer. Furthermore, promotions are often limited to specific vehicles or stock, so confirm whether the deal applies to the car you're interested in.
Given the differences in car finance offers even with Mazda Finance, it's important to shop around and compare car finance offers - a Mazda dealership's advertised rate may seem appealing at first. Still, the fine print reveals the total cost, and this is the cost that matters the most.
If a dealer insists that you use Mazda Finance and is reluctant to entertain another lender, this is often because they receive incentives for promoting it. However, the interest rates offered may not always be the most competitive. This is why comparing car finance is essential to get the best deal.

How Mazda Finance Works, What it Costs and What Makes It Unique

Mazda Finance provides car loans for new and used Mazda vehicles purchased through Mazda dealerships.

For New Mazda Vehicles: Mazda Finance allows customers buying a new Mazda to secure a loan directly through the dealership, simplifying the financing process as Mazda Finance is integrated into the car-buying experience. However, this means no alternatives are offered, which means there is a risk the interest rate won't be market-leading.

Generally, Mazda Finance offers:

Fixed-Rate Loans: The interest rate is locked for the life of the loan, ensuring your repayments stay consistent throughout the term.
Flexible Terms: Loan terms range from 6 to 60 months, allowing you to make repayments to suit your cash flow.
Interest-Free and Low Deposit Options: Depending on the promotion, which will vary between dealers, deposits may be negotiable, or you may benefit from low-interest or even interest-free financing offers. The standard rates published by Mazda Finance are 8.25% p.a. to 14.30% p.a.
Mazda Future Value: Mazda Finance offers a scheme where Mazda agrees to give you a specific dollar amount after the end of your car finance term. We explain this in the section below.
More details can be found on the Mazda Finance website.

For Used Mazda Vehicles: Mazda Finance also supports customers purchasing pre-owned Mazda, with fixed-rate loans and repayment plans. However, the interest rates can vary slightly compared to new vehicle loans due to vehicle age, mileage, and condition. Every Mazda dealership will offer specific terms and interest rates, and our research suggests that some dealerships may use other lenders (UDC being one example).

Know This: Some dealerships offer special finance rates for used vehicles, making financing a pre-owned Mazda more attractive. However, the rates are not always for the life of the loan, and there are limits to what cars (if any) the discounted interest rates apply to. More details can be found on each Mazda dealership's website.

Mazda Finance's Interest Rates Explained

Mazda publishes its interest rates and are between 8.25% p.a. to 14.30% p.a. Further to the interest costs, an establishment fee of up to $475 and a PPSR fee of $20 applies to any successful loan approval and drawdown. There is also a 'Full Prepayment Early Termination Fee' if you repay the loan early, and Mazda Finance loses out on interest revenue as a result.
Our car loan comparison shows how Mazda Finance's interest rate and fees compare to the rest of the market.
More details about Mazda's latest finance offers can be found on the Mazda Finance website although it's likely the best offers will be dealership-specific.

Financing a Mazda with Mazda Future Value (MFV)

Mazda Finance offers Mazda Future Value (MFV), a financing option that gives you more flexibility and confidence when purchasing a new Mazda vehicle. It is designed to give the borrower flexibility when financing a new Mazda at the end of the loan term. It works as follows:

Guaranteed Minimum Value at the End of the Loan:

When you purchase a new Mazda, Mazda Finance agrees on the minimum value your car will have at the end of the loan term. This is called the Mazda Future Value and is specified upfront.
The agreed value is contingent on meeting specific conditions, such as maintaining the vehicle's condition (per Mazda's standards) and staying within an agreed kilometre limit, which you must agree on upfront when buying the car.
Mazda Finance then issues a Mazda Future Value Certificate, a guaranteed value that becomes part of your Credit Contract.
Please note that Mazda Future Value loans repayment terms are between 24 months and 60 months.

At the end of the loan term, you have the choice to:

Return the Car: Hand the vehicle back to Mazda, pay the return fee and use the Mazda Future Value as a guaranteed buyback amount.
Keep the Car: Pay the remaining amount (balloon payment) to own the vehicle outright, or refinance the balance with Mazda Finance or any other car lender.
Trade-In: Use the value of your Mazda towards a new vehicle purchase.

Know This: Your monthly repayments are lower than a standard car loan because they are calculated based on the car's value, excluding the Mazda Future Value amount. This means you're paying off the difference between the car's upfront cost and its guaranteed future value, not the entire cost of the car.

Key Benefits of Mazda Future Value include:

Financial Certainty: You know the minimum value your car will retain at the end of the loan term, which gives you certainty and reduces the financial risk.
Flexibility: You can choose to return, trade-in, or keep the car at the end of the term based on your needs.
Lower Monthly Payments: The structure of MFV means lower regular repayments compared to traditional car loans, making it more affordable in the short term.

Important Conditions:
To qualify for the agreed Mazda Future Value, you must meet:

Mazda Finance's Vehicle Condition Requirements (the car should be in acceptable condition, excluding normal wear and tear).
The kilometre limit (agreed upon at the start of the loan).

Our Example: Buying a Mazda3 with Mazda Future Value (MFV)

If you plan to buy a Mazda3 using Mazda Finance, we explain each step and the typical costs:

Step 1: Choose Your Deposit

Deposit: $0
Loan Amount: $35,000 (vehicle price of $40,000 minus $5,000 deposit).

Step 2: Select Your Loan Term

Loan Term: 5 years (60 months)
Repayment Frequency: Monthly
Interest Rate: 10% p.a.

Step 3: Estimate the Number of Kilometres Driven

Estimated Usage: 20,000km per year.
Total Kilometres Over Loan Term: 100,000km (20,000km/year x 5 years)

Step 4: Mazda Finance Calculates Your Mazda Future Value (MFV)

Agreed Mazda Future Value: $15,000 (the guaranteed minimum value of the car after 5 years, based on maintaining its condition and staying within the 100,000km limit).
This MFV is documented in your Mazda Future Value Certificate and included in your Credit Contract.

Monthly Repayments Calculation:
Because the MFV of $15,000 is subtracted from the vehicle's purchase price when calculating your monthly repayments, you only repay the $25,000 difference ($40,000 - $15,000).

Loan Amount: $25,000
Interest Rate: 10% p.a. (used as an example)
Monthly Repayments: $531.10 over 60 months.

By using MFV, you make lower monthly repayments than a standard loan for the full $40,000.

End of Loan Term Options:
After 5 years, you have three options:

Return the Car: Hand back the Mazda3 to Mazda Finance. Provided you've met the kilometre limit and condition requirements, the $15,000 MFV will settle the outstanding amount.
Trade-In: Use the $15,000 MFV value as a trade-in credit towards a new Mazda purchase.
Keep the Car: Pay the $15,000 balloon payment to own the car outright.

Mazda Finance Pros and Cons

If you're considering financing your Mazda with Mazda Finance, we list the pros and cons to be aware of.

Pros

A Convenient and Seamless Process: Financing is arranged directly through the dealership, allowing you to choose and finance your Mazda in a single transaction without dealing with multiple lenders. However, as outlined below, convenience can come at a long-term cost.
Exclusive Promotions and Offers: Mazda Finance frequently collaborates with dealerships to offer unique promotions, such as low-interest rates, interest-free periods, or low-deposit options. This is a strong selling point and attractive to Mazda buyers when the deal is cost-effective and competitive.
Fixed Interest Rates and Flexible Loan Terms: As is standard with car lending, the interest rate is fixed, and the loan term ranges from 12 to 60 months to suit their financial situation.
Mazda Future Value: Interest costs are reduced and there is added flexibility if you take this option, but you'll need to be able to settle the balloon payment or refinance the remaining balance.

Cons

Interest Rates May Not Be Competitive: While convenient, Mazda Finance rates are not guaranteed to be market-leading. Given the risk and the costs involved, comparing the market before committing to any Mazda Finance offer is essential.
Limited to Mazda Vehicles: Mazda Finance can only be used for vehicles purchased through Mazda dealerships.
Dealership-Specific Promotions May Have Restrictions: Special rates, such as 0%, 1% or 4% finance (or any other offer), may only apply to specific vehicles, stock, or terms and are often unavailable for the entire loan term.
No Alternative Options Offered: Financing through Mazda Finance means you're tied to their terms and rates, as dealerships generally don't provide quotes from alternative lenders (in most cases).
Higher Rates for Used Vehicles: Interest rates for pre-owned vehicles are typically higher than those for new vehicles, reflecting factors such as vehicle age, mileage, and condition.
Promotions May Be Limited: Advertised low rates may only apply under very specific conditions, increasing the overall cost of financing if you don't qualify. For this reason, it's essential to read any Mazda Finance offer in detail.

What to Be Aware Of Before Signing Up to Any Mazda Finance Deal

Before signing any agreement with Mazda Finance (or any other car lender), you must understand what you're agreeing to. Our outline below is published to help you avoid expensive car debt.

Step 1 - Read the Fine Print on Promotions
Mazda Finance promotions, such as 0%, 1% or 4% interest rates, can be appealing but often come with specific conditions. These might include:

Limited terms (e.g., the low rate may only apply for 12 months).
Restrictions on vehicle eligibility (e.g., limited to certain models or stock).
Requirements for large deposits or balloon payments.

Our Tip: Always confirm the total cost of the loan, including any fees and conditions, before signing. Don't assume the headline rate applies to every vehicle or the full loan term.

Step 2 - Compare Rates and Total Costs
Mazda Finance interest rates may not always be the most competitive on the market. While they offer convenience, this often comes at a premium compared to third-party lenders. Additionally, fees such as establishment costs and ongoing account fees can add to the overall cost of the loan.

Our Tip: Our Car Loan comparison guide lists many trusted lenders who operate all over New Zealand. A slightly lower interest rate, for example, 2% or 3% p.a., can save you thousands over the life of the loan.

Step 3 - Understand Your Loan Terms
Loan terms with Mazda Finance typically range from 12 to 60 months; the shorter the term, the higher the monthly repayments. Conversely, longer terms can reduce monthly repayments but increase the total cost of the loan due to accumulated interest.

Our Tip: Please be careful and ensure you can afford what you'll owe every week, fortnight or month on the repayment schedule. Do not agree to a car loan if you are easily financially stretched.

Step 4 - Beware of Balloon Payments
Some Mazda Finance loans may include balloon payments (a lump sum due at the end of the loan term), which can reduce monthly repayments but leave you with a significant amount to pay later.

Our Tip: If a balloon payment is part of the deal, ensure you understand how much it will be and plan for it well in advance - finding $10,000 (or more) at short notice may be impossible.

Step 5 - Understand and Consider the Additional Fees
While not as expensive as interest on a car loan, application fees and early repayment penalties add up, affecting the total cost of your loan.

Our Tip: Ask for a full breakdown of fees upfront. Ensure you're clear on what you'll pay over the loan term.

Step 6 - Assess Dealer-Specific Offers Carefully
Different Mazda dealerships set their own promotions; this makes it important to approach offers cautiously and ensure the deal is right for you.

Our Tip: Shop around, and don't be afraid to negotiate or walk away if the terms aren't right.

Alternatives to Mazda Finance

Our extensive consumer guide to car loans compares banks, credit unions, specialist motor lenders, car loan brokers and personal lenders.

Before signing up to any car loan, whether or not it's with Mazda Finance or another lender, we suggest reading the following must-know tips and facts:

Get car financing agreed in principle before you starting looking for a car – you’ll save the most on fees and interest costs and know exactly what your budget is. You can also negotiate the price you pay like a cash buyer - it makes everything easier.
Without question, the worst place to get financing is at a car dealership just after you’ve decided on a car. You have no bargaining power, nor will you be familiar with other options in the market.
The cheapest interest rate deals will be on secured loans – this means the lender has a right to sell your car if you can’t make the repayments (exactly like a bank can sell a house if the mortgage isn’t repaid).
To pay the least amount in car financing, you’ll need the lowest interest rate, lowest application fees and the shortest term with the most frequent repayments (i.e. weekly vs monthly). i.e. If your loan is $10,000 and your interest rate is 15%, you’ll pay $4,000+ in interest if you pay it back over 5 years, but only $1,600 if you pay it back in 2 years.
Most car finance terms are up to 5 years in length. Early repayment will slash the interest costs, but check the lender’s fees and charges to know how much that will cost.
Avoid adding a car loan to your mortgage if you can help it – you’ll pay interest on the amount for a lot longer which costs you more in the long run. For example, a $10,000 loan at 7.50% over 25 years is much more costly than a $10,000 at 12.95% over three years.
Missing repayments gets costly – lenders charge $25+ for each missed payment, so prioritise your repayments.
See our cheapest car finance and loan tables to pick from the best deals currently available - and visit our personal loans guide to compare

Frequently Asked Questions

Can I negotiate the interest rate or terms with Mazda Finance?

It depends - while Mazda Finance promotions are typically non-negotiable, the dealership may offer incentives such as reduced fees or adjustments to loan terms to secure your business. However, you'll still want to compare rates elsewhere to ensure the offer is competitive.

Do I need to take Mazda Finance to buy a Mazda vehicle?

No, you're not obligated to use Mazda Finance when purchasing a Mazda vehicle. While dealerships often promote Mazda Finance, you can finance your car through other lenders if they offer better terms or rates.

What is Mazda Future Value (MFV), and how does it work?

Mazda Future Value (MFV) is a financing option that guarantees the minimum value of your Mazda at the end of your loan term, subject to maintaining the car's condition and staying within agreed kilometre limits. This value, specified upfront in your Credit Contract, reduces your monthly repayments since they are based on the car's cost minus the MFV amount. At the end of the term, you can:

Return the car and use the MFV to settle the loan.
Trade it in as credit for a new Mazda.
Keep the car by paying the remaining balance (balloon payment) or refinancing.

What are the benefits and conditions of MFV?

MFV offers lower monthly payments, financial certainty with a guaranteed minimum car value, and flexibility at the end of the loan. To qualify for the MFV, you must keep the car in good condition and stay within the kilometre limit agreed at the start of the loan.

Are the promotional interest rates (e.g., 1% or 4%) available for all vehicles and loan terms?

No, promotional rates often come with conditions. These rates may only apply to specific vehicles, limited stock, or short low-interest periods (e.g., 12 months, not the full loan term). Always read the fine print and confirm the total cost of the loan (e.g. the cost of what you're borrowing, the interest costs and fees all added together) before proceeding.

Can I refinance a Mazda Finance loan with another lender?

You can refinance your Mazda Finance loan with another lender if you find a better rate or more favourable terms. Refinancing can reduce your total borrowing cost, but it's important to account for any fees or penalties from Mazda Finance. Our car refinance guide has more details.

What is a balloon payment, and should I consider it?

A balloon payment is a lump sum due at the end of the loan term. It can lower your monthly repayments but leaves you with a significant amount to pay at the end. If you're considering a loan with a balloon payment, ensure you have a clear plan to cover it when the time comes.

Are there additional fees with Mazda Finance loans?

Yes, Mazda Finance loans typically include an establishment fee (e.g., $475) and a PPSR fee ($20). Other fees may apply, such as account servicing charges or early repayment penalties. Request a full fee breakdown before signing up.

How does Mazda Finance determine my interest rate?

Interest rates with Mazda Finance depend on various factors, including your credit profile, deposit size, loan term, and the specific vehicle being purchased.

Can I combine Mazda Finance with a trade-in?

Yes, Mazda dealerships allow trade-ins, and the trade-in value can reduce the amount you need to borrow through Mazda Finance. Confirm the trade-in value with the dealership before finalising your loan.

Are there any tax benefits to using Mazda Finance for business vehicles?

If the vehicle is used for business purposes, the interest on a Mazda Finance loan may be tax-deductible. You will need to discuss this with a tax adviser - MoneyHub does not cover such matters.

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