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Mazda's radical new-car buying plan revealed: will it work for you?

By David Bonnici, 23 Mar 2020 Car News

Mazda's radical new-car buying plan revealed: will it work for you?

The new Mazda Assured purchase plan might be the answer to your prayers - but read the fine print first

Mazda Australia has taken a bold step by introducing a new flexible ownership model that's super-popular in Europe.

'Mazda Assured' promises a guaranteed value for a vehicle at the end of the loan term, enabling customers to upgrade to a new model more frequently and with their changing lifestyle demands.

Mazda CX-9

However, unlike the now-defunct Holden Maven short-term lease scheme that offered the opportunity to lease a vehicle and swap for another after just one month, Mazda Assured only offers loan terms of between one and four years.

Mazda's structure means customers will have to cycle through the range more slowly if they want a taste of the diverse Mazda line-up, that ranges from the MX-5 roadster up to CX-9 large SUV and BT-50 ute.

Even so, if you see your circumstances changing within the next year or so, if planning a family or about to become an empty nester, for example, this lease-type arrangement is not a bad way to ensure you’ll be able to up- or downsize to another new Mazda when you need it.

How Mazda Assured works

Mazda's new finance scheme is similar to a novated lease. Select any new or demonstrator Mazda from the range and choose a loan term between one and four years, the deposit you want to put down and estimated number of kilometres to be driven during the term of the loan. Based on the deposit and nominated kilometres, the buyer receives a tailored repayment plan and Guaranteed Future Value (GFV) that is equal to the final repayment.

Mazda 3

At the end of the loan term, customers have the option to trade their vehicle for another Mazda vehicle, keep the vehicle and pay the remaining GFV, or return their vehicle if it meets the fair wear and tear conditions and agreed kilometres.

READ MORE: Vehicle finance options explained

Mazda Australia Managing Director, Vinesh Bhindi said Mazda Assured allows customers to choose the most suitable Mazda model as fast as their life circumstances change.

“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.” 

EXPLAINED: How does car leasing work?