Buy a New Subaru at Graduation Time

Disclaimer:  This is not a complete discussion of the college graduate program offered by Subaru Motors Finance (SMF), nor do I Ed Monson have any connection to it other than the fact that I am certified to sell Subaru cars at the Subaru Dealer in Fresno California.  I cannot change or alter the terms of the program, I cannot bind SMF to anything and I can’t guarantee anything to you.   Whew! Now that that’s out of the way, here’s brief description in plain terms:

What is it?

Generally speaking, a person who has just graduated college or is about to graduate college, may take advantage of the Subaru College Graduate Program.  It is for buying new Subaru cars.  As of this writing, the maximum amount of loan you can get through this program is $25,000. Remember (if you’re not an Econ grad) that tax and DMV fees are added to the amount of the car before we figure the loan amount, which can’t be more than $25,000.  The maximum approval may be lower based on your income.

What is required?

  • Copy of degree
  • Info from registrar’s office if near graduation
  • A job or a job letter stating you have or will have a job and proof of your income
  • It is always a good idea to have proof of residence

As with all loans, if this is your first time, it’s better to stay below the maximum.  For example, with this program you have a better chance of buying a new Impreza with a $19,995 price than a WRX with a $30,000 price.  You also have a better shot at approval without a cosigner if you have down payment$500 and a trade-in, or $1,000-$2,000 is a good place to start.

What’s the point?

The Subaru College Graduate Program is a way for you to get a car as a first-time buyer without a cosigner, although that isn’t guaranteed.  It depends on other variables like your income, credit history, etc.  If you have a parent cosigning for you, you may be able to get a better rate without using this program.  In my personal experience recent grads who have bought new Subaru’s through this program have been approved with interest rates in the 4-7% range.  Please remember, I don’t speak for Subaru Motors Finance and nothing I’ve discussed here is a guarantee of anything.  It is just information based on my experience.

You can work with me directly to pre-qualify online or over the phone.  Just click “Get Started” below or “Ask Ed” anywhere on