Apply for Financing


Purchasing a new vehicle is an exciting endeavor, and our finance experts at Capistrano Mazda make the process as quick and easy as possible. If you have your eye on a new or new-to-you vehicle on our lot, we can help you run the numbers and make that vehicle yours.

How Vehicle Financing Works

When buying a new car, you can pay for it with cash or finance your purchase with a loan. At our Capistrano Mazda dealership, we provide both options to help ensure you drive home in the vehicle of your choice.

Since many people don’t have the upfront cash to get the vehicle they want, financing is a popular option. This involves taking out a loan from a participating lender, such as a bank, credit union, or other financial institution. The lender provides upfront cash for your purchase, which you pay back with interest over time.

You don’t technically own your vehicle until you’ve paid off the loan, so you must comply with specific requirements over the life of the loan. Your lender owns the car, so they have a vested interest in keeping it safe. This means you’ll typically have to carry collision and comprehensive insurance coverage on your financed vehicle to cover damages regardless of who’s at fault in an accident.

The Benefits of Financing Your Vehicle

You’ll enjoy several benefits when you choose to finance your vehicle. Purchasing a new vehicle can present a chicken-and-egg scenario if you need a daily driver to commute to work. You can’t get a job and earn money to buy a car if you don’t already have one. Financing makes it possible to take possession of a new or new-to-you vehicle immediately.

For many people, saving up to purchase a car with cash would simply take too long. At the end of 2023, the average list price for a used vehicle in the United States was $26,091. A new non-luxury vehicle averaged $45,283 in February 2024. Meanwhile, the typical American has only $1,200 in their savings account. The result is a high demand for affordable financing options.

Financing allows you to pay off your vehicle over several years. You’ll make regular, affordable installments over the loan term, freeing up immediate funds for other essential expenses, such as your mortgage, rent, or utilities.

Financing your vehicle can also improve your credit. Your credit score increases when you maintain a diverse mix of loans or lines of credit. If you only have credit cards currently, taking out a car loan may boost your credit rating. Making payments on time can also raise your score.

Find the Right Financing Plan for Your Needs

It’s important to understand your options when applying for a car loan. Our finance experts at Capistrano Mazda will explain your choices and the key factors you need to consider when comparing car loans.

Your Budget

How much can you afford to pay each month toward your car loan? Keep in mind that your new vehicle will come with other recurring expenses, such as gas, maintenance, and insurance. If your lender requires you to take out an insurance policy with collision and comprehensive coverage and you’re currently paying for the minimum mandatory insurance, your rates may increase significantly. Get a quote from your insurance provider before purchasing so you know exactly what your vehicle will cost.

You can minimize the amount you need to finance by providing a cash down payment or trading in a vehicle. If you’re replacing your current car, get a quote for a trade-in so you can calculate your budget accordingly.

Your Credit Score

The higher your credit score, the better your loan options. You’ll generally get a lower interest rate and more favorable terms if you have established good credit. However, our finance department at Capistrano Mazda can help you secure a loan even with poor credit. And remember, a loan can help you get your credit score back in shape.

Your Loan Term

The longer your car loan, the less you’ll pay each month. This can make a long term very appealing. Keep in mind, however, that you need your car to outlast your financing. If you’re purchasing a used car, consider how many years you expect to get out of it. If you like to upgrade vehicles often, you may want a shorter loan, even on a new vehicle.

How To Apply for Vehicle Financing

Applying for new vehicle financing doesn’t have to be difficult. Our finance professionals at Capistrano Mazda will guide you through each step. You’ll need to provide some basic documentation to complete your loan application, including the following:

  • Driver’s license.
  • Proof of income, such as pay stubs or tax documents.
  • Proof of address, such as a utility bill or bank statement.
  • Social security number.
  • Proof of insurance.

If you’re applying for a loan in person at our Capistrano Mazda dealership, bring these documents with you. Our finance experts will help you determine which vehicles are within your budget and show you several outstanding options in our inventory of new, used, or certified used vehicles.

Get a Free Quote Now

If you’re ready to purchase a new vehicle, our expert team at Capistrano Mazda can help. Contact our finance center to learn more about how to value your trade-in, calculate your monthly car payments, and apply for a loan. We streamline the complex finance process to make securing a new vehicle quick and hassle-free. Come visit our Capistrano Mazda dealership in San Juan Capistrano, California, today.


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