Nissan advertises a College Grad program for recent college graduates that meet certain eligibility requirements, and some local dealerships have their own First Time Buyer programs as well. Both of these programs are aimed at helping people who don’t have a lot of credit history to qualify for their first
Nissan’s First Time Buyer program is only for college students who have recently graduated or will graduate soon—it’s called the College Grad Program.
The College Grad Program advertises $500 cash back, as well as the potential to qualify for a “major discount” on a new Nissan—but you’ll have to talk to your dealership to see if they participate and get any more details as to what that means.
What we do know is that this program is available at participating dealerships to drivers who:
Have graduated from an approved higher education institution within the past 24 months, or will graduate in the next 6 months.
Provide proof of current or future employment that will begin in the next 90 days.
While Nissan doesn’t specifically mention this, it’s reasonable to assume that there is a minimum
required as well—in these cases, it’s usually at least 5%. But remember that not every dealership participates in this program, and the details can vary according to location.
If you’re not a college student, you might still be able to get a break! Even though Nissan doesn’t advertise a company-wide program, many local Nissan dealerships advertise First Time Buyer programs on their own sites.
advertised a First Time Buyer program with the following requirements to qualify:
Be at least 18 years old
Have been employed for at least one year
Have a gross monthly income of at least $1,800
Have no more than 12 months of auto loan payment history
Have a qualified cosigner or more than 5% cash down payment
The upshot? Do your due diligence with your area Nissan dealerships, as there can be local programs for first-time buyers that can vary from dealership to dealership.
Tips for low-credit Nissan financing if you don’t qualify for the College Grad program
If you didn’t go to college or another approved type of school or graduated more than two years ago, then you, unfortunately, won’t qualify for the College Grad Program. You may also have a
that doesn’t qualify, nor have a job lined up, or not be able to have a big enough down payment—and that’s ok! It’s hard to be a first-time car buyer, and we’ve all been there.
But don’t give up hope—here are a few pointers on how to get the vehicle and financing you need, even if you don’t qualify for a special program or promotion.
Choose a vehicle you can afford
When you’re deciding what car to go for, use a loan payment calculator to determine which models you can reasonably afford based on your credit score and income.
. Most Nissan dealerships have an inventory of used vehicles, and with a certified pre-owned vehicle, you can get both a good deal and a reliable ride.
can pay off, and if you get pre-approved before you start hitting the car lots you’ll be in a good position to get a deal.
Get help from a co-signer
Sometimes, we all need a little help! If you can’t qualify for financing on your own, see if you can get a friend or relative with a stronger credit score to cosign on your loan. This greatly increases the odds of getting approved for financing and securing a good interest rate. And as your financial situation improves, you can often
MORE:How to get a cosigner for a bad credit car loan
Have patience
If you have an immediate need for your vehicle, then this isn’t a viable option. But if a new car is more of a want than a need, then putting off the purchase for a few months (or even a year) gives you time to save up a down payment and build your credit. There are a lot of little ways that you can improve your credit score without having to apply for credit cards, and putting a little bit aside every week can add up.
MORE:Car loans for people with no credit history
The best Nissan models for first-time car buyers
Nissan’s current offerings are pretty strong across the board. There is a wide range of both price points and body styles, meaning that there’s likely a Nissan to suit almost anyone! But for first-time car buyers, here are a few ones to consider:
: This compact sedan starts at an economical $15,370, and with its fuel economy rating of 32/40 mpg in city/highway driving, it’ll save you money on fuel costs as well.
: If you’re interested in an EV for your first car, the Nissan Leaf starts at $28,040, but can be as low as $20,540 with potential federal tax credits.
No matter what model you may have your eye on, make sure that you’re aware of what financing options are available to you before you take a test drive. Happy shopping!