Subaru finance options provide parents with flexible solutions for purchasing a safe, reliable vehicle for their college-bound student. Rafferty Subaru understands that financing a vehicle for a college student requires balancing affordability with safety and dependability. With standard EyeSight® Driver Assist Technology and the Subaru brand's reputation for longevity, these vehicles offer peace of mind for families investing in their student's transportation needs.
Consider Your Student as a Co-Signer for Credit Building
No matter who will be the primary contributor on monthly payments for the vehicle, adding a cosigner can be a huge help. If the student is the primary contributor, having a parent as a cosigner will greatly improve their odds of getting approved for a loan. On the other hand, if the parent is the primary contributor, adding your student as a cosigner will help establish their credit history.
Consider Certified Pre-Owned Subaru Options
Certified Pre-Owned Subaru vehicles offer an excellent balance of affordability and reliability for college students. These vehicles undergo comprehensive inspections and include extended warranty coverage, providing additional protection for your investment.
According to Kelley Blue Book, certified pre-owned vehicles typically retain higher resale values than non-certified used cars. The rigorous certification process ensures your student receives a dependable vehicle with roadside assistance and additional warranty protection beyond standard used car purchases.
Budget for Insurance and Maintenance Costs
The last but most important tip for financing a student vehicle is to budget properly. This is especially important for students who will be paying for their own vehicle. We recommend following the 20/4/10 rule: contributing a 20 percent down payment, looking for a term around four years in length, and utilizing no more than 10 percent of your gross monthly income for total vehicle costs.
Explore Student-Friendly Subaru Finance Options
Ready to discuss financing options for your college student's Subaru vehicle? The finance specialists at this Rafferty Subaru can explain loan terms, co-signing options, and certified pre-owned benefits. Visit us today to find the perfect combination of safety, reliability, and affordability for your student's transportation needs.
