What Is a Loan Extension, and Does Mazda Financial Services Offer Extensions?
A loan extension is when a monthly payment is moved to the end of your loan agreement. It constitutes a change in payment terms for your Retail Installment Contract (your loan agreement). Please keep in mind that, while your payment may move and the term of your loan agreement will increase by the same number of payments you skip (typically just one or two, which is also how far your maturity date will move), your interest will still be calculated daily in accordance with the terms of your loan agreement and may result in additional finance charges.
We understand that financial hardships can be challenging, and we are here to help. We are expanding payment relief options for customers who may need support. To review the available options you may qualify for, please contact us at 866-693-2332.
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