As exam season comes to an end across Canada, many soon-to-be graduates are preparing for big opportunities . With proceeds from their first full-time jobs, many new graduates will soon be looking for their first new car – a long held rite of passage.
An increasing number of auto makers are offering special rebates to students who have recently graduated , with hopes they translate into brand loyal customers over their lifetime. Many of these rebates can be applied in addition to already generous manufacturer incentives available to the general public. Here is a link to a full list of new-graduate rebates currently available from auto makers.
Our favourite deals this week feature vehicles with available new-graduate rebates on top of already noteworthy incentives. For your convenience, we've factored in the available graduate rebates into the pricing and monthly payments shown.
2016 Mazda 3
Cash purchasers can take advantage of a $500 manufacturer incentive on the 2016 Mazda 3 while lease customers are entitled to a $1,250 rebate (compared to $1,000 in February). Recent graduates also qualify for an additional $500 after-tax rebate on cash purchases, finance and lease contracts. Financing for 60 months is available at 1.99 per cent (compared to 2.49 per cent in February) while leasing for up to 48 months is available at 1.49 per cent.
2016 Mazda 3 GX Automatic
- MSRP: $19,650
- Manufacturer incentive: $500
- New Grad Rebate: $500 (after-tax)
- Estimated dealer discount: $300
- Freight, PDI, government fees: $1,835
- Cash purchase price before tax: $20,243
- Finance for 60 months at 1.99 per cent for $411 per month including tax (includes a $500 grad rebate applied after tax and assumes zero down payment)
- Lease for 48 months at 1.49 per cent for $263 per month including tax (includes a $1,250 manufacturer incentive applied before tax, a $500 grad rebate applied after tax, assumes a 20,000 annual kilometre allowance and zero down payment)
2016 Kia Forte
Cash purchasers can take advantage of a $3,500 manufacturer incentive on the 2016 Forte (compared to $2,500 in February) while finance customers are eligible for a $3,000 rebate (compared to $1,000 in February) and lease customers can take advantage of a $1,000 rebate. Recent graduates are also eligible for an additional $500 incentive on cash purchases, finance and lease contracts. Financing and leasing for up to 60 months are available at zero per cent (compared to 1.9 per cent for leasing in February).
2016 Kia Forte EX Automatic
- MSRP: $22,195
- Manufacturer incentive: $3,500
- New Grad Rebate: $500
- Estimated dealer discount: $500
- Freight, PDI, government fees: $1,685
- Cash purchase price before tax: $19,380
- Finance for 60 months at zero per cent for $374 per month including tax (includes a $3,000 manufacturer incentive and $500 graduate discount applied before tax and assumes zero down payment)
- Lease for 48 months at zero per cent interest for $279 per month including tax (includes a $1,000 manufacturer incentive and $500 grad rebate applied before tax, assumes a 20,000 annual kilometre allowance and zero down payment)
2016 Volkswagen Jetta
Cash purchasers can take advantage of a $1,000 manufacturer incentive on the 2016 Jetta, while recent graduates can benefit from a $500 discount on finance and lease contracts via VW Finance. Financing for up to 60 months is available at zero per cent (compared to 0.99 per cent in February) and leasing for 48 months is available at 0.99 per cent.
2016 Volkswagen Jetta 1.4 TSI Trendline Automatic
- MSRP: $17,395
- Manufacturer incentive: $1,000
- New Grad Rebate: $500
- Estimated dealer discount: $250
- Freight, PDI, government fees: $1,765
- Cash purchase price before tax: $17,410
- Finance for 60 months at zero per cent for $347 per month including tax (includes a $500 grad rebate applied before tax and assumes zero down payment)
- Lease for 48 months at 0.99 per cent for $257 per month including tax (includes a $500 grad rebate applied before tax, assumes a 20,000 annual kilometre allowance and zero down payment)
2016 Mitsubishi Lancer
Cash purchasers can take advantage of a $1,000 manufacturer incentive on the 2016 Lancer Sedan while lease customers are eligible for a $750 rebate. Recent graduates can also take advantage of an additional $500 rebate on cash purchases, finance and lease contracts through Mitsubishi’s recent graduate program called Education Edge. Financing for 60 months is available at 0.99 per cent (compared to 1.99 per cent in February) and leasing for up to 48 months is available at zero per cent.
2016 Mitsubishi Lancer ES CVT
- MSRP: $18,698
- Manufacturer incentive: $1,000
- New Grad Rebate: $500
- Estimated dealer discount: $800
- Freight, PDI, government fees: $1,740
- Cash purchase price before tax: $18,138
- Finance for 60 months at 0.99 per cent for $379 per month including tax (includes a $500 Education Edge discount applied before tax and assumes zero down payment)
- Lease for 48 months at zero per cent for $243 per month including tax (includes a $750 manufacturer incentive and $500 Education Edge discount applied before tax, assumes a 20,000 annual kilometre allowance and zero down payment)
Andrew Tai is CEO of Unhaggle
Pricing and calculations are based on Ontario customers and subject to availability of inventory. Please note that while the information above is accurate at the time of publication, pricing, incentives, and discounts may vary and are subject to change or discontinuation at any time. Dealer discounts are estimates and may be given at the discretion of individual dealers. Consult your local dealership for details.
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