Car rates

Mazda Used Car Interest Rates Are Nearly Same As New Car Interest Rates

Used vehicles generally have a higher interest rate than their new counterparts, but this is not currently the case with Mazda. Now might be the time to shop around for your next Mazda vehicle, even though used car prices are still high. This is because Mazda’s used car prices are almost identical to those of its new vehicles.

Mazda Mazda3 and CX-5 models currently benefit from a special APR rate of 2.9% for 60 months. Through the Mazda CPO program, you can now get a Certified Pre-Owned Mazda3 or CX-5 for the same APR as new – just 2.9% – until May 2. That could make picking up a used Mazda a good deal.

To qualify for 2.9% APR, your Mazda CPO must be model year 2017 or newer. Loan terms vary, with a limit of 63 months. Loans must be made through Mazda Financial Services. Well-qualified borrowers with over 670 FICO credit scores (level 1 and level 2 credit for Mazda) may be eligible to take advantage of these offers.

Of course, if you are buying new, you also have the option of taking the even lower rate of 1.9% APR for a 48 month loan or a rate of 3.9% for a 72 month option. You don’t have these options with the CPO program. If you chose to borrow for only 48 months, your used Mazda3 or CX-5 will still be at 2.9%, and 72 months is out of the question on the used car front when financing through Mazda. Your dealer may have alternatives so be sure to check.

Mazda vehicles are known to be some of the most reliable on the road, and the CX-5 and Mazda3 get high marks for reliability and safety. It’s something that can really make a used car worth it, and might even be worth it despite the higher cost – used Mazda3 and CX-5 vehicles are selling well at the above MSRP of new 2022 models right now in many parts of the country.

If you can’t wait to order your new Mazda, taking advantage of CPO program pricing can help lower the costs of your next car. But, if you have the luxury of time on your side, buying new could save you even more money in today’s tough automotive landscape.

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Pictured: 2022 Mazda Mazda3 (top), 2022 Mazda CX-5 (middle)