Just graduated? Reap the benefits!

Like many new grads, you may be beginning to search for a new car. While you may be finished with exams, you still need to put your studying skills to work when finding the right car. Luckily, car companies have made it a little easier for you!

Several automakers offer special pricing and financing options for qualified college graduates. These discount programs include incentives like easy payment options, affordable rates, and cash-back bonuses. They’re also a great way to build credit.

Below is a list of automakers providing discounts for recent graduates.

Acura:  The Acura Graduate Program offers competitive, flexible rates and loan terms, generous qualifying conditions, and a deferred first-payment option for 90 days with 60 days of no interest. If you have graduated in the past two years or will graduate in the next four months with a master’s, bachelor’s or associate degree from a college or registered nursing school, you could be eligible. You must also provide verifiable proof of employment or a firm commitment from an employer with a start date no more than 120 days from the date of the finance contract.

Audi: Audi Financial Services starts with a credit procedure, which requires less credit history for approval than traditional leasing plans. Other benefits include competitive rates and convenient payment plans. You are eligible for the College Grad Lease option if you are within four months of graduating from an accredited program or if you have completed your schooling from an accredited university within the last two years and are employed full-time.

BMW: BMW Financial Services gives flexible financing and leasing packages to recent graduates. You have a choice of purchase or lease plans on all new or Certified Pre-Owned BMWs three model years or newer, up to 60-month terms for both financing and lease agreements, and competitive annual percentage rates (APR) and leasing terms. You must bring documentation verifying graduation, proof of employment, and proof of insurance.

Ford (Ford, Lincoln, or Mercury): With the Ford and Lincoln Mercury College Student Purchase Program, when you purchase or lease an eligible new 2010 or 2011 Ford, Lincoln, or Mercury vehicle during the program period, you’ll receive $500. And, you can combine this Student Bonus Cash with other current public incentives so you can really save some money. All current full-time and part-time college students, graduate students, trade school students, and recent graduates qualify.

GM (Chevrolet, Buick, or GMC): The GM College Discount Program offers associate and undergraduate students, recent graduates (less than two years out of school), and current nursing school and graduate students a discount on the price of select new GM cars. Discount can be combined with other incentives in most cases, including GM reward card earnings (See related post: Automotive Credit Cards). Visit the program website for specific details.

Honda: Honda Financial Services can help you get a car with flexible and competitive financing through the Honda Graduate Program. It offers flexible and competitive financing, lease and purchase-plan packages on any new or Certified Used Honda vehicle and a deferred first-payment option for 90 days, with 60 days of no interest. To be eligible you must have verifiable proof of employment or a firm commitment from an employer with a start date no more than 120 days from the date of the finance contract. You are to have graduated in the past two years or will graduate in the next four months with a master’s, bachelor’s or associate degree from a U.S.-accredited college or registered nursing school.

Hyundai: Again, if you’re graduating in the next six months or have graduated within the past two years, you can buy any new Hyundai with no down payment required and an additional $400 on top of current Hyundai rebates. You’ll also have 90 days to make the first payment.

Infiniti: Infiniti Financial Services offers the Signature GRADUATE Financing Program if you completed your degree in the last two years, or if you're about to graduate. You can take advantage of the program to acquire a new or pre-owned Infiniti. The program includes low APR, special leasing terms, and delayed first payments on a purchase of a new Infiniti.

Kia: Kia Motors Finance Company (KMFC) is offering a $400 rebate for graduates in addition to current Kia rebates. Eligible students must be within six months of graduation or up to 24 months after graduation of an accredited four-year college or university, nursing school, and accredited two-year college, or an accredited masters or doctorate program in the U.S. You must also be currently employed or have verifiable proof of employment to begin within 90 days of approval and meet minimum income and payment-to-income requirements.

Mazda: The Mazda College Graduate Program is intended to assist college graduates, who may not have sufficient credit history, to purchase or lease a new Mazda vehicle. Applicants must be graduating within six months or have graduated within the last 24 months from an accredited two- or four-year college, graduate school (including doctorate programs), nursing school, or trade school. Also, you must provide proof of employment and income, or a letter from a future employer stating a start date within 90 days of purchase and starting salary.

Mitsubishi: Mitsubishi Motors is offering special financing for recent and upcoming college graduates on their full line of vehicles. They make it possible for you to purchase or lease a Mitsubishi vehicle with no money down and at a preferred Mitsubishi College Graduate finance/lease rate, even if you do not have an established credit history.

Nissan: Nissan’s program, Signature GRADUATE, offers $500 Cash Back on select models, a 90-day deferred payment option, and exclusive purchase and lease plans featuring special APR and lease terms. To qualify for the program, you must provide proof of graduation within the next six months, or past two years, from an accredited U.S. two- or four-year university, college, graduate school, or nursing school. You’re also eligible if you’re a student currently enrolled in graduate school. You must have present employment, or future employment beginning within 90 days of financing approval.

Scion: Qualifying graduates can get a $1,000 rebate towards the purchase or lease of a new Scion when you finance or lease through a participating Scion dealer and Toyota Financial Services. In order to qualify you need to prove that you have graduated recently or will graduate soon, prove that you have a job lined up, and have collision insurance. Additional program features include 12 month/12,000 mile Roadside Assistance, no money down and no monthly payments for the first 90 days, and a waived security deposit.

Subaru: The Subaru College Grad Program is for you if you are a recent (within the last 12 months) or soon-to-be graduate (within six months of graduation date). The program is administered by Subaru Motors Finance. See dealer for details.

Suzuki: If you are planning to graduate from college in the next six months or have graduated in the last two years, then you can get $500 off your next Suzuki vehicle purchase. You’re eligible if you graduated from an accredited four-year college or university, graduate school, or nursing school. 

Toyota: The Toyota College Graduate Program is offering its largest college rebate ever to help you buy or lease a new Toyota vehicle. The program offers a $1000 rebate on select new Toyota models with no money down and no monthly payments for the first 90 days when financing. Plus, you’ll receive complimentary Roadside Assistance for one year and competitive finance rates.

Volkswagen: Benefits in this Volkswagen College Grad Program are that there is no credit history required, no security deposit, and no first month’s payment. It is open to students who are graduating in the next six months or who graduated less than 24 months ago. You’ll need to show you have a full-time job or provide a commitment letter from your future employer.

Be sure to check out the automakers’ websites for additional program details.

Congrats, grad, you’ve earned it!

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