Finance Department

We are experts at finding the perfect payment plan for you.

At Mazda of Everett we go out of our way to Make It Happen For You----what does this mean? Mazda of Everett specializes in matching the right loan to you and your needs. We help customers from all over the Northwest, Washington, Oregon, Idaho, Montana, Alaska and beyond. Mazda of Everett has great relationships with some of the nation's top rated lending institutions. We work hard to get our customers the lowest payments and the lowest possible interest rates available. Our preferred status with many lending institutions for giving outstanding car loans on new and used cars, trucks, vans and suv's makes us the best choice for purchasing your next vehicle. Our customers tell the story the best..we have an amazingly high repeat and referral customer count. Our customers love what we can do for them. Let us find the perfect payment plan for you.

Keep it simple - here's why you should come to Mazda of Everett for you next car loan.

• Our online car loan application takes only minutes to fill out and submit.
• We have a huge network of lenders to work with, allowing us to get you the best car loan rate your credit score allows.
• No embarrassing bad credit situations. We provide a hassle-free and confidential experience.
• Our no obligation application is free. Try it!

Browse our dealership's extensive inventory to find your next new Mazda or used car. Pictures, prices and details are available for all of our new and used vehicles. Please contact us at 888-871-8777 if you have any additional questions.

Lease versus buy?

Mazda of Everett finance experts say - it depends. We know it is not possible to simply say that one is always better than the other because the answer depends on the specifics of each individual situation. We take the time to listen to your needs, learn what you will be using your vehicle for, how long you intend to own it, and find the best fir for you, whether it is a lease or you want to buy, Mazda of Everett will go out of their way to Make It Happen For You.

Leases and purchase loans are simply two different methods of automobile financing. Leasing a car is not renting a car. If you choose to finance the use of your vehicle; someone else will choose to finance the purchase of a vehicle. Each has its own benefits and drawbacks. Our experts at Mazda of Everett will make sure you make the best decision for your needs and intended use of the vehicle.

When making a 'lease or buy' decision you must look not only at financial comparisons but also at your own personal priorities - what's important to you.

Is having a new vehicle every two or three years with no major repair risks more important than long-term cost? Or are long term cost savings more important than lower monthly payments? Is having some ownership in your vehicle more important than low up-front costs and no down payment? Is it important to you to pay off your vehicle and be debt-free for a while, even if it means higher monthly payments for the first few years?

As you can see making a lease-or-buy decision is not quite cut and dry. There are some things you need to consider. Mazda of Everett has outlined some of the things you should consider when making the lease verses buy decision.

Buying and leasing are different

When you buy, you pay for the entire cost of a vehicle, regardless of how many miles you drive it. You typically make a down payment, pay sales taxes in cash or roll them into your loan, and pay an interest rate determined by your loan company, based on your credit history. You make your first payment a month after you sign your contract. Later, you may decide to sell or trade the vehicle for its depreciated resale value.

When you lease, you pay only a portion of a vehicle's cost, which is the part that you "use up" during the time you're driving it. Leasing is not the same as renting. You have the option of not making a down payment, you pay sales tax only on your monthly payments (in most states), and you pay a financial rate, called money factor, that is similar to the interest on a loan. You may also be required to pay fees and possibly a security deposit that you don't pay when you buy. You make your first payment at the time you sign your contract - for the month ahead. At lease-end, you may either return the vehicle, or purchase it for its depreciated resale value.

Here is a Buy verses Lease example:

If you lease a $20,000 car that will have, say, an estimated resale value of $13,000 after 24 months, you only pay for the $7000 difference (this is called depreciation), plus finance charges, plus possible fees.

When you buy, you pay the entire $20,000, plus finance charges, plus possible fees.
This is fundamentally why leasing offers significantly lower monthly payments than buying.

How are lease and loan payments different?

Lease payments are made up of two parts: a depreciation charge and a finance charge. The depreciation part of each monthly payment compensates the leasing company for the portion of the vehicle's value that is lost during your lease. The finance part is interest on the money the lease company has tied up in the car while you're driving it. In effect, you are borrowing the money that the lease company used to buy the car from the dealer. You repay part of that money in monthly payments, and repay the remainder when you either buy or return the vehicle at lease-end.

Loan payments also have two parts: a principal charge and a finance charge, similar to lease payments. The principal pays off the full vehicle purchase price, while the finance charge is loan interest.

However, since all vehicles depreciate in value by the same amount regardless of whether they are leased or purchased, part of the principal charge of each loan payment can be considered as a depreciation charge, just like with leasing - it's money you never get back, even if you sell the vehicle in the future. It's lost money for which you'll have nothing to show.

The remainder of each loan principal payment goes toward equity. It's what remains of your car's original value at the end of the loan after depreciation has taken its toll. Equity is resale value. It's what you get back if you sell the vehicle. The longer you own and drive a vehicle, the less equity you have. At some point in time, after the wheels have fallen off and the engine is worn out, the only equity left is scrap value. You never get back the full amount you've paid for your vehicle.

Buy versus lease - savings account or no savings account

So, buying a car with a loan is essentially like putting money into a declining-value savings account - you never get out as much as you put in. A portion of every payment you make is lost to depreciation and finance charges. What you have "to show" for your investment when your loan is paid off is only the part that is left over after depreciation and interest.

Leasing, then, is similar to buying, but without the equity "savings account." You only pay for what you use and you don't put anything extra into "savings." It's true that you'll own nothing at the end of a lease; you'll have nothing "to show" for the money you've put into it. But... what you don't own is the same part of the car's original value - the depreciated part - that a buyer too doesn't own at the end of his loan. Again, a car's value depreciates the same amount whether it is leased or purchased. That money is gone forever, lease or buy.

With leasing, you may have the option of putting your monthly payment savings into more productive investments, such as mutual funds or stocks that have the possibility of increasing in value. In fact, many experts encourage this practice as one of the benefits of leasing, though most people will typically find other uses for the money they save by leasing - such as paying the mortgage or buying groceries.

To summarize, leasing typically does not build ownership equity, while buying does. The reason that a buyer has equity at the end of his loan is that he/she purchases that equity by making higher monthly payments. Part of each payment funds the equity. Leasing - lower payments - no equity. Buying - higher payments - partial equity