Buying a new car? Several carmakers believe you should come away from your college experience with more than just a diploma. If you are currently a college student, a recent graduate or a graduate student, you may be in line for some savings on that new car you’ve been eyeing. A number of carmakers have special plans offering extra cash back and financing deals to college students and recent grads.
Who Offers Incentives?
Several of today’s automakers offer incentives for college graduates. Currently, incentives are offered by automakers such as Ford, Hyundai, Toyota, ,Kia Nissan, General Motors and a few others. But since automotive incentives change every month, it’s important to check with your dealer before you buy a vehicle to find out just what incentives you might qualify for.
What Kind of Incentives?
Typically, college-graduate incentives aren’t too high — but they’re better than nothing. More importantly, some automakers offer special programs to help new college graduates finance a car, even if they don’t have much of a credit history. credit built up.
Nissan’s college-graduate program is currently among the best, as the automaker currently offers its vehicles for $250 below dealer invoice college students and recent grads $1,000 off a new Altima before any additional rebates or special offers are added. Ford’s program, meanwhile, offers up to $750 $500 cash back for graduates, along with better-than-usual interest-rate incentives when financing through Ford Credit. Subaru’s program doesn’t offer any specific cash back but provides a deal specifically for college graduates to help make it easier for them to finance or lease a new Subaru. The list goes on, but these types of deals are the norm when it comes to incentives for college graduates.
What’s the Catch?
There’s always a catch, right? And in some cases, when it comes to incentives for college graduates, there is. The biggest catch for most programs is that they only apply to current college students and recent college grads: Drivers who graduated from college within the last year or two or current students in college or graduate school. In other words, you might not be able to use your college degree from the 1960s to get a good deal on a new car.
But that doesn’t mean it isn’t worth trying. With new-car incentives changing so frequently, it never hurts to ask what programs you might qualify for before you sign the papers — especially because automakers sometimes have programs for police officers, veterans, firefighters and others that you might not have expected.