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Frequently Asked Questions

Service FAQ

What are the benefits of leasing over financing?

  • A new car more often with lower monthly payments over a shorter period of time
  • Drive new car more often
  • Short term commitment
  • Tax write off
  • No administration fees
  • Keep more cash to use or invest
  • High residual values for Mazda resulting in lower monthly payments

What are the benefits of financing over leasing?

  • Consumer friendly, clear, and understandable
  • No kilometer charges
  • No wear and tear charges
  • Able to build equity through the term of finance
  • Terms available up to 96 months
  • Trade in at any time
  • Fantastic rates available

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Is my retail loan open?

Yes. All loans through us are open and there are no penalties to pay them off sooner. There may be a small admin fee from the bank around $35 when you pay off the entire loan.

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What do I need to bring for leasing or financing to get started on my application?

We will require a driver's license/passport, SIN no. (to identify you individually in the event of conflict of name), proof of income (if requested), employment information (Address and phone number), void check or pre-authorized debit form and proof of current insurance.

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Will a warranty pay for all expenses?

Many warranties cover the parts and labor costs involved in fixing unexpected repairs but place the burden of expected maintenance on the customer.

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Who takes care of licensing my new or pre-owned vehicle?

At Gyro Mazda, we will license the vehicle at your convenience. You may pay extra for your sticker and plates on the day.

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What financial institution is used for leasing and financing?

We currently use Scotiabank for our leasing. The name of the lease company is Canadian Dealer Lease Services. For financing, we primarily use Scotiabank. However, in some cases we may use other financial institutions.

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I have poor Credit. Will I get approved?

Having bad credit does not automatically decline you for a loan. Our trained finance managers will work with you to get you into a car at a comfortable monthly payment. We welcome clients to apply for credit no matter how bad your credit may be.

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Do I need a co-signore?

It is best practice to always have a co-signor on the application but it is not always required. The benefits of having a co-signor would be owner loyalty discount to both parties in the future, should they wish to purchase another Mazda.

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If I am financing or leasing, will I require proof of insurance?

Yes. Every financial institution will require proof of insurance in order for the deal to be funded.

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What am I responsible for on a lease?

Vehicle Maintenance

You agree to maintain, service, and repair the vehicle at your own expense. You agree to follow the owner's manual and maintenance schedule and to make necessary repairs. You assume liability for any damage, risk of loss, or destruction of the vehicle during the term of the lease and until you return the vehicle. You also agree to comply with the manufacturer's request in any recall campaign. You agree not to alter, mark, remove, or install equipment in the vehicle without our written consent. All costs incurred in maintaining, restoring, and repairing the vehicle to maintain good working condition and appearance will be your responsibility. Up to date service records will be required upon our request. We maintain the right to inspect the vehicle at any resonable time with due notice and if necessary, undertake to have repairs and/or maintenance completed if we deem it necessary to ensure the vehicle is in good , working order and condition. You will be billed for the cost of such repairs and applicable taxes you agree to pay all such bills on demand. The vehicle's manuals must be returned with the vehicle.


Excess Wear and Tear

You agree to pay for excess wear and tear as determined by a professional third party appraiser acceptable to us, as designated by The Bank of Nova Scotia including, but not limited to, repair or replacement of:

  • Body—dents, scratches, rust or corrosion;
    Paint—scratches, chips, rusted areas, mismatched paint, special colors, identification;
    Glass—cracks, scratches, pits, breaks, faulty window mechanisms, broken lights or mirrors;
    Chrome and Trim—dents, scratches, rusted areas, broken grills or trim;
    Interiors—rips, stains, burns or worn through areas on any upholstery, headlines, carpeting
  • Tires having less than 0.33 centimeters of measurable tread remaining at its shallowest point, having an obvious defect, or which do not meet government standards; tires which are inappropriate for the season during which the vehicle is returned (vehicle may be returned with winter tires from November 1st to March 31st or summer tires from April 1st to October 31st or all season tires if the same were on the vehicle at the beginning of this lease
  • Missing equipment that was part of the vehicle when delivered and has not been replaced with equipment of equal quality and design
  • Costs to repair all mechanic defects, or fault or failure of the vehicle or any of its parts or accessories
  • Any damage that makes the vehicle unsafe and/or unlawful to drive or any damage to the vehicle as a result of substantial alternations to or changes in the vehicle which were not approved in writing by us
  • Any missing vehicle manuals that are not returned with the vehicle

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