Are you a college student or recent graduate who is thinking about a new car? If so, you might not realize that a number of automakers student car deals such as price discounts, cash-back rebates, or deferred payments. To qualify, you typically need to be within six months of graduation, or have graduated within the last two years.
By far the most well-known of these is GM’s program, called the GM College Discount Program. This program, unlike the more common cash-back incentives, actually gives college students preferred, below MSRP pricing on the GM family of vehicles, which includes Chevy, GMC, Buick, and even Cadillac. According to the examples on the official website, the preferred pricing often equates to about $1000 off sticker price.
You can actually apply for the program online, and print your authorization number right off the internet. You then bring that number to your dealer salesperson. It’s important to note that the program is voluntary for GM Dealers, so your discount may not work at all dealerships.
So you’re probably asking: who is eligible? One nice suprise is that students at 4-year colleges are not the only ones who can qualify. Students with an RN degree, two-year associate’s degree, or graduate school degree can also benefit from the program, though your degree must not be more than 2 years old.
If you have no credit or poor credit, as many students do, it’s best find yourself a cosigner for auto loan, as this will help you minimize financing rates, which means you’ll pay less for the car over time.
