Are you planning on buying your first car? Here are the best automakers with the best car-buying programs for first-time car owners.
Car shopping should be an exciting experience. However, with the soaring prices of new and used cars, it’s no wonder that many first-time buyers feel overwhelmed. The average price of a new car is over $36,000, while the average price of a used car is over $19,000. If you’re not prepared, car shopping can quickly turn into a nightmare.
The good news is that many automakers offer special programs for first-time car buyers. These programs typically offer discounts on the purchase price of a new or used vehicle, as well as low-interest financing. In some cases, you may even be able to defer your first payment for up to 90 days.
To help you get started, we’ve compiled a list of the best first-time car buyer programs from some of the top automakers.
Hyundai Assurance
Hyundai’s Assurance program is one of the most generous in the industry. It offers several features that are designed to make car ownership more affordable for first-time buyers.
Some of the highlights of the program include:
• Discounts on the purchase price of a new or used Hyundai vehicle
• Low-interest financing
• Payment deferral for up to 90 days
• Hyundai Trade-In Bonus: receive an additional $500 discount when you trade in your old car
To be eligible for the program, you must have a credit score of 700 or higher. You also need to have a steady income and a minimum down payment of 10%.
Kia First-Time Buyer Program
Kia’s first-time buyer program is very similar to Hyundai’s Assurance program. It offers discounts on the purchase price of a new or used Kia vehicle, as well as low-interest financing and payment deferral for up to 90 days.
In addition, KIA requires participants to have a full-time job for six months, otherwise, the applicant would need to bring a qualified co-signer. Similarly, Kia’s program requires a credit history that is free from charge-offs, delinquent credit, foreclosures, bankruptcies, collection accounts, and repossessions.
Applicants should also bring tax documents or employment pay stubs that show they can pay for the monthly payments including their daily expenses or any outstanding debt.
Mazda College Grad Discount
If you’re a recent college graduate, Mazda’s College Grad Discount program can help you save on the purchase of a new Mazda vehicle. The program offers a $500 discount on select models, as well as special financing rates.
This program helps fresh college graduates save on their first car so they can focus on their careers and future. To be eligible, you must have graduated within the past two years or will graduate within the next six months. You’ll also need to show proof of employment or a firm commitment from an employer.
If you don’t have proof of income, you can still qualify for the program if you have a co-signer. Mazda also offers a Military Appreciation Discount for active duty service members, reservists, veterans, and their spouses. This discount is available on select models and offers $500 off the purchase price.
Mazda First-Time Buyer Program
Mazda’s first-time buyer program offers many benefits, including discounts on the purchase price of a new Mazda vehicle, low-interest financing, and payment deferral for up to 90 days. This allows first-time car buyers a chance to purchase a vehicle without having to worry about the high upfront costs.
The program offers new and pre-owned Mazda vehicle models with simple requirements. Some of these requirements include a minimum down payment for pre-qualification, a verified income, and employment.
If you do not have a verified income, you can still qualify for the program by providing a co-signer. Mazda also offers a Military Appreciation Discount for active duty service members, reservists, veterans, and their spouses. This discount is available on select models and offers $500 off the purchase price.
Nissan College Graduate Program
Nissan’s College Graduate Program offers a $500 discount on select new Nissan models for recent college graduates. The program offers special financing rates and terms for qualified buyers.
To be eligible for the program, you must have graduated from an accredited four-year college or university within the past two years or will graduate within the next six months. You must also have a full-time job or a firm commitment from an employer that will begin within 90 days.
Likewise, the participant should be a graduate of an accredited two-year college, technical college, junior college, or university for about two years or will graduate from the program in about six months.
Toyota College Grad Rebate
Toyota offers a $750 rebate for recent college graduates who purchase or lease a new Toyota vehicle. The program is available on select Toyota models, including the Camry, Corolla, RAV4, and Tacoma.
To be eligible, you must have graduated from an accredited four-year college or university within the past two years or will graduate within the next six months. You must also have a full-time job or a firm commitment from an employer that will begin within 90 days.
Volkswagen College Graduate Program
The Volkswagen College Graduate Program offers a $500 rebate for recent college graduates who purchase or lease a new Volkswagen vehicle. The program is available on select Volkswagen models, including the Jetta, Passat, and Tiguan.
To qualify for the program, you must have graduated from an accredited four-year college or university within the past two years or will graduate within the next six months. You must also have a full-time job or a firm commitment from an employer that will begin within 90 days.
Ford’s First-Time Buyer Program
Ford’s First-Time Buyer Program offers several benefits, including discounts on the purchase price of a new Ford vehicle, low-interest financing, and payment deferral for up to 90 days. This allows first-time car buyers a chance to purchase a vehicle without having to worry about the high upfront costs.
The program offers new and pre-owned Ford vehicle models with simple requirements. Some of these requirements include a minimum down payment for pre-qualification, a verified income, and employment.
If you do not have a verified income, you can still qualify for the program by providing a co-signer. Ford also offers a Military Appreciation Discount for active duty service members, reservists, veterans, and their spouses. This discount is available on select models and offers $500 off the purchase price.
Chevy First-Time Buyers Program
Chevy’s First-Time Buyer Program offers several benefits for those looking to purchase their first vehicle. These benefits include a $500 discount on select Chevy models, low-interest financing, and payment deferral for up to 90 days.
To be eligible for the program, you must have a verifiable income and employment. You must also be a first-time car buyer, which is defined as someone who has not owned or leased a vehicle within the past three years.
If you do not have a verified income, you can still qualify for the program by providing a co-signer. Chevy also offers many other discounts and programs that may be of interest to first-time car buyers, such as the College Discount and the GM Supplier Pricing Program.
Honda First-Time Buyer Program
The Honda Graduate Program offers a $500 rebate for recent college and graduate school graduates who purchase or lease a new Honda vehicle. The program is available on select Honda models, including the Accord, Civic, CR-V, and Pilot.
To qualify, you must have graduated from an accredited four-year college or university within the past two years or will graduate within the next six months. You must also have a full-time job or a firm commitment from an employer that will begin within 90 days.
GM’s First-Time Buyer Program
GM’s First-Time Buyer Program offers some benefits for those looking to purchase their first vehicle. Are you ready to take a new path in life? GM’s First-Time Buyer Program offers the new Chevy Trailblazer for first-time car buyers.
To help fresh college graduates and first-time car buyers drive their new cars, GM offers big discounts on their GMC, Buick, and Chevy models. But you first need to qualify before you can take advantage of this great offer.
In Conclusion
Which automakers have the best first-time car buyer program? Mazda, Nissan, Toyota, and Volkswagen all offer great programs for first-time car buyers. These programs offer discounts on the purchase price of the vehicle, low-interest financing, and payment deferral for up to 90 days.
If you are a recent college graduate, be sure to take advantage of these programs to get the best deal on your new car.
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