EV sales growth the catalyst for a new loan product from Mazda
MAZDA Australia is making it easier to get into its EVs with a flexible finance offering that includes a guaranteed future value at the end of the loan term.
The finance is offered through Mazda Finance, a partnership between Mazda and Australian Alliance Automotive Finance (AAAF), and is promoted as helping customers transition to electrified motoring with greater confidence, certainty, and flexibility.
Mazda Finance said future vehicle values and ownership costs for EV buyers remain uncertain compared with internal combustion engine alternatives and are among the most common considerations for Australians exploring EV ownership for the first time.
It said the new finance package "offers support to customers transitioning to an EV through a range of tailored finance solutions designed to suit a variety of lifestyles and ownership needs".
"Customers can personalise their finance arrangements through flexible deposit options, loan terms, repayment frequencies and balloon payment structures," it said.
"For customers seeking greater certainty at the conclusion of their finance agreement, Mazda Assured is a car loan product that includes a guaranteed future value (GFV), providing the assurance of knowing the value of their Mazda to Mazda Finance at the end of the agreed loan term."
Mazda Finance said a Mazda Assured agreement on the brand's (current) sole EV, the Mazda 6e GT, over a three-year term with a 20,000km annual allowance carries a GFV of $20,420, subject to fair wear and tear conditions.
At the conclusion of the loan term, customers can choose one of three options - trade the vehicle on a new Mazda, retain ownership by paying or refinancing the final balloon payment (subject to normal lending criteria), or return the vehicle to their Mazda dealer, with Mazda Finance applying the GFV against the outstanding balance (subject to fair wear and tear conditions).
"Mazda Australia is committed to helping customers approach electric vehicle ownership with increased confidence as they make the transition to the next generation of mobility," said Mazda Australia marketing and sales director Jarrod Gieschen.
"We understand that the EV buying process is new and can be overwhelming for our customers, but rest assured, this is business as usual for us and our dealers. We're here to support them with more than 60 years of experience."
Finance provider AAAF is part of Toyota Finance Australia which, in addition to servicing Mazda's 132 dealers, also partners with Suzuki's 119 dealers under the Suzuki Finance Service banner.
AAAF also has 261 dealers offering its Power Alliance finance products.
The company has provided finance to Mazda dealers and customers since March 2019, and to Suzuki dealers and customers since 2022.
