So I was driving home and decided to give my car a little launch and then the check engine light came along with low oil icon. As soon as those lights came on the engine shut off. I checked the dipstick to see if there was oil but there was oil. Now my car wont start, it cranks but doesnt start up.

 

Going out on a limb here, your car has the 2.3 liter motor; yes, no?

 

Yes its is a 2.3 liter

 

07 Mazda 3 S GT Hatchback

 

Ahhh, makes sense. The 2.3 is a notorious engine for suddenly consuming oil and suffering an oil starvation failure. Time for a new engine.

FWIW, many folks have found the 2.5 liter Ford Duratec engine, which is a virtual identical twin of the 2.3 liter in your car and is a 98% bolt in replacement. The thing about the 2.5 it has internal upgrades which makes it FAR more reliable than the 2.3; the 2.5 also has more power and gets virtually identical fuel economy.

And the best part of all..., used low mileage 2.5 engines are very plentiful and inexpensive (the 2.3s are very expensive and hard to find).

 

Thanks for the help