The automobile industry has taken a huge hit now and the coronavirus pandemic is to be blamed here. But amidst all chaos and panic, Mazda has brought something really exciting for new buyers. This new program, as developed by the automaker’s finance arm, is known as Mazda Assured.

The main highlight of the program is that the buyers will get a chance to witch to a new Mazda car after a few years. This switch will guarantee that the automaker offers the vehicles’ buyback value.

To put things in perspective, the Mazda Assured program is the automaker’s take on the Banking Royal Commission, which demanded the credit requirements to be tightened. This stricter norms can be one of the reasons behind the slowdown in sales in the automobile market.

The execution of the Mazda Assured program will include customers depositing to join. Post this, he/she will have to define the preferred repayment term for the loan, the number of kilometres to be driven, etc. based on these answers, Mazda will come up with the best interest rates and loan tenure and also a future value guarantee.

At the end of the loan tenure, the customers will have the option of selling off the car to the automaker in return for a new car. The value will be determined based on the GFV (guaranteed future pay).

Apart from that, Mazda is also focused on offering more peace of mind to its customers. The program also assures that every customer will get a personalised interest rate. This will be based on the individual circumstances of the buyer.

Mazda saw a fall of 21.7% in its car sales in February 2020 as the total number of sold units stood at 7230. However, it still managed to have the second-best sales number, just behind Toyota.

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