You worked hard throughout college and you landed your dream job, but now you need a reliable car to get you there. I have the best new car discounts for college seniors and recent grads.
You are probably thinking that your student loans will be due soon and you have not established your credit history. No worries!!!! There are several car programs to assist graduating seniors, recent college graduates, and graduate students with purchasing or leasing their first new car.
Going into a car dealership can be intimidating to college grads but it doesn’t have to be. Most of the major car companies offer some type of bonus cash, student discounts, or special financing for college students and recent graduates. Typically the discounts are for new cars but some car brands will let you use the discount on some of their Certified Pre-Owned (CPO) cars.
You will learn how to take advantage of your student or recent grad status with these 21 new car discounts for college seniors and recent grads.
New Car Discounts for College Seniors and Recent Grads
Acura
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months from a Nursing program or an associate’s degree, bachelor’s, master’s, or doctorate program
- Discount: $500 towards a lease or purchase
- Car Types: Integra, MDX, TLX, & RDX when you finance or lease with Acura Financial Services (AFS)
- Perks: Can defer 1st payment for 90 days
https://www.acura.com/tools/current-luxury-car-suv-offers-leasing
Audi
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months from a US/Canadian two or four-year college program
- Discount: No security deposit on a lease
- Car Types: New or Certified Pre-owned models
- Perks: Competitive rates even if no credit history with flexible terms on leasing and financing, no co-signer required
https://mydigimag.rrd.com/publication/?m=54500&i=721185&p=1&ver=html5
BMW
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months from a Nursing program or an associate’s degree, bachelor’s, master’s, or doctorate
- Discount: $1,000 towards purchase or lease
- Car Types: Any new or Certified Pre-Owned (CPO) BMW
- Perk: Security deposit may be waived
https://www.bmwusa.com/college-graduate-program.html
Chevrolet
- Eligibility: Must be a current college or grad student, or have graduated within the past 2 years
- Discount: $500 (excluding GMC, Cadillac, Buick, and Chevrolet Corvettes)
- Car Types: Chevrolet cars except Corvettes
- Perk: Can defer 1st payment for 90 days
https://www.chevrolet.com/special-offers
Ford
- Eligibility: Current trade school/college students who are enrolled at least half-time, graduate students, and recent college grads that graduated within the past 2 years
Accept high school grads and seniors with a college letter of intent, students interning or in apprentice programs and medical residency students
- Discount: $500 towards a lease or $750 towards a purchase
- Car Types: Varies
- Perk: Most flexible discount program for students
https://fordrecognizesu.com/college/Home/Index
Genesis
- Eligibility: Must be a current college or grad student, or have graduated within the past 2 years
- Discount: $400
- Car Types: Varies
https://www.genesis.com/us/en/promotions.html
GM
- Eligibility: Must be a current college or grad student, or have graduated within the past 2 years
- Discount: $500 (excluding GMC, Cadillac, Buick, and Chevrolet Corvettes)
- Car Types: Chevrolet cars except Corvettes
- Perks: Can defer 1st payment for 90 days
https://www.gmcollegeappreciation.com/
Honda
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: $500 towards a lease or purchase
- Car Types: Varies
- Perks: Can defer 1st payment for 90 days on financing but not lease
https://automobiles.honda.com/tools/current-offers?
Hyundai
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: $400 towards a lease or purchase
- Car Types: Varies
https://www.hyundaiusa.com/us/en/special-programs
Infiniti
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: Flexible financing options
- Car Types: Varies
https://www.findthebestcarprice.com/best-car-deals/infiniti/
KIA
- Eligibility: Must be a current college or grad student, or have graduated within the past 12 months
- Discount: $400
- Car Types: All-new Kia vehicles
Check out your local dealer’s website for the college program
Lexus
- Eligibility: Must be a current college or grad student, or have graduated within the past 2 years
- Discount: $1,000
- Car Types: Certified Pre-Owned Cars are excluded
Lincoln
- Eligibility: Current trade school/college students who are enrolled at least half-time, graduate students, and recent college grads that graduated within the past 2 years
Accept high school grads and seniors with a college letter of intent, students interning or in apprentice programs, and medical residency students
- Discount: $500 towards a lease or $750 towards a purchase
- Car Types: Any 2023 or 2022
https://www.findthebestcarprice.com/best-car-deals/lincoln/
Mazda
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months from a Nursing program or an associate’s degree, bachelor’s, master’s, or doctorate
Graduated within the past 2 years or will graduate within the next 6 months from a two-year trade or vocational school or a current grad student
- Discount: Competitive APRs and lease terms
- Car Types: New or pre-owned Mazda
Mercedes
- Eligibility: Graduated within the past 2 years
- Discount: Eligible for special finance offers under $45,000
- Car Types: Varies
https://www.findthebestcarprice.com/best-car-deals/mercedes-benz/
Mini
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: $500
- Car Types: New Mini
https://www.miniusa.com/tools/buying/collegegrad.html
Nissan
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: $500
- Car Types: Altima, Rogue Sport, or Sentra
- Perk: Discount can be combined with national incentives
https://www.nissanusa.com/college-grad-deals.html
Subaru
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: Eligible for any special lease or retail offers available
- Car Types: Varies
https://www.subaru.com/shopping-tools/special-offers.html?filter=special-programs
Toyota
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: $500
- Car Types: Varies
Volkswagen
- Eligibility: Graduated within the past 2 years or will graduate within the next 6 months
- Discount: $500
- Car Types: Select new cars
https://www.vw.com/en/offers/college-grad-bonus.html
Volvo
- Eligibility: Must be a current college or grad student, or have graduated within the past 2 years
- Discount: Flexible and competitive financing options
- Car Types: Varies
https://www.volvocars.com/us/l/volvo-car-financial-services/
The discounts are similar between the car companies but some companies include high school seniors, trade school students, current college students, and current graduate school students, while some car brands only focus on recent grads from accredited four-year college programs. All of the dealerships will require some documentation before you are eligible for the car discounts.
All of the dealerships require a valid driver’s license. Girl, we can’t have you driving off the car lot with a suspended license and you can’t get car insurance without a valid driver’s license. Yes, you will be required to purchase auto insurance before you drive off into the sunset.
The other documents will include proof of graduation or student status/. So if you are a high school senior, a dealership will require evidence that you have been admitted into a community college or four-year university, or trade school. If you are a current college student you have to submit your transcript and ability to meet the monthly car payment.
While recent graduates may need to show verifiable proof of employment such as a job offer letter. or a firm commitment. You will need to present a copy of your diploma and completion of the dealer’s credit application unless you are applying for a loan through your bank or credit union. This may seem like a lot of information but they can’t have you driving around in the latest BMW with no way to pay for it.
Each car manufacturer has their own set of criteria for their student program. Local dealership requirements may vary and state laws can play a part in the buying process also.
However, all these documents help the dealership determine if you are really ready to purchase a car. I know you are probably thinking I don’t have any credit history and I don’t start my new job until next month.
This is the great part about being a student or recent grad, the dealership has a finance department that has given car loans to thousands of students and they understand the plight of the broke college student.
The finance team knows the average student or grad does not have any credit or extensive credit history. They also understand that your savings account is probably non-existent, so they are taking all these factors into consideration as they work with you to come up with a personalized financial plan. Most of the car discounts center around each brand’s entry-level line of cars which are more economical.
The good news is you don’t have to worry about asking your parents to co-sign for your car, that’s the beauty of the college student purchase program. Most of these discount programs are set up to help eligible college students and new graduates build their credit history while providing affordable financing. These programs are designed to make sure your car purchase or lease is not exceeding a certain percentage of your overall income and that you have a good debt-to-income ratio. They know that you still want to put gas in your car, buy groceries, and have lights in your apartment so your car note can’t take up 95% of your check.
Whether you are looking for pre-owned vehicles or new vehicles I have done all the hard work for you. Now it’s time for you to gather all the necessary documents and head over to your local dealership and take advantage of major savings.
.
Leave a Reply