Mazda, Australia’s second top-selling car company, has expanded its new in-house finance program to offer guaranteed future value (GFV) on all its models.
GFV programs are a common offering across the industry. Basically, at the start of your finance plan (up to four years) you receive a figure showing the minimum worth of your car at the end of the term.
Provided you stay within the agreed-upon kilometre cap and there’s no damage beyond “fair wear and tear”, you can either return the car and put this sum into a new Mazda, pay the sum and keep your car outright, or just return the car.
As with other finance plans, with Mazda’s you receive a bespoke interest rate based on your credit score and other factors. Mazda dealers are still able to help customers arrange their own finance using other lenders, and customers can make their own finance arrangements.
The GFV plan is good for Mazda since it encourages satisfied customers to change into a new model every few years, but theoretically also saves owners a headache since they can budget around what their car will be worth at changeover time.
We always recommend shopping around through various lenders to get the best rate.
The two biggest in-dealer automotive lending institutions are St George and Macquarie Finance, although car companies such as Toyota and Nissan also have their own branded subsidiary financial divisions, and often use them as purchasing levers or incentives.
“We recognise our customers lifestyles change more frequently than they’re able to change their car to suit – be that having children or getting a new job,” says Mazda Australia managing director Vinesh Bhindi.
“Mazda Assured allows them to own a new Mazda more often and more suited to their personal circumstances.”
Beyond this update, Mazda is also discussing the “significant developments in service transparency and convenience” it has been working on. Selected dealers now have two nifty servicing options to choose from, beyond the conventional.
Mazda Vision servicing provides customers with a detailed walk-around video of their vehicle during its service, providing updates on tyre wear, brake disc condition and the vehicle overall.
Mazda Quick Smart servicing positions two technicians on one customer vehicle at a time, allowing for “a detailed service to be completed in one hour” while the customer waits in the dealership lounge.
Finally, the company has also announced a new multi-million dollar investment in a new National Parts Distribution Centre to be built in Epping, Melbourne. The project sees Mazda commit to a 10-year lease of the facility which covers 37,235 sqm.
“This new National Parts Distribution Centre will allow our staff to continue to deliver industry-leading customer service through the timely and accurate distribution of vehicle parts in a safe, purpose built environment,” Bhindi said.
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