Graduation season is upon us! And while it is a very exciting time, it can also be very expensive. Starting a new job, moving to a new city, and living on your own can be a lot more costly than you anticipated, so when you need a new car, you may start to feel like you’re drowning in debt. With student loans, small salaries, and short credit history, adding another expense may seem impossible for a new college graduate.
A lot of new graduates are foregoing the purchase of a new car and relying on public transportation or car-sharing services like Lyft or Uber. But unless you live in a major city, those options are not realistic or as easily maneuvered.
However, a lot of major brands and auto manufacturers offer rebates, discounts, and interest rate deals for college graduates.
Let’s take a look!
A great commuter car for new graduates, the Honda Fit is affordable, fuel-efficient, and subcompact – perfect for a modern millennial. Starting at $16,090, the Honda Fit has a spacious interior while its small footprint makes parking a cinch, even in the smallest of spaces.
Luxury for an affordable price, the Acura ILX starts just under $28,000. Although it’s not quite as luxurious as a BMW counterpart, new graduates will appreciate the premium materials and state-of-the-art technology.
Starting at $24,685, the Toyota Prius was voted 2017 Best Hybrid Car for the Money by U.S. News and World Report, and rightfully so. With its 4-cylinder engine and 2 electric motors, you’ll find it’s perfect for city and highway driving alike. With updated technology and driver assistance features, you won’t find a better car for your buck.
Ranked the top-selling compact car, the Honda Civic is one of the safest vehicles on the market. Acing crash safety courses, the Honda Civic starts at $18,740 and provides comfort and utility, as well as upgraded technology like Apple CarPlay and dual-zone climate control.
A top-rated subcompact SUV, this is the best vehicle for someone who wants a little more space than what a sedan can provide, without paying for a larger SUV. Starting at $19,465, the HR-V has 30% more storage than other subcompact SUVs and comes standard with Bluetooth and a rear-view camera.
All of these manufacturers provide graduates with generous discounts and savings – not just because they want to reward hard work and dedication to your education, but because they are focused on building brand loyalty and a strong customer base. Chances are, if you purchase a vehicle at a good deal, you’ll go back when it’s time for your next purchase.
Most dealerships and automakers will want to see proof of eligibility. These stipulations usually mean that you have graduated less than 2 years ago, or you are graduating within 6 months of purchasing a new car, so be sure to have the proper documentation on hand.