Car Buying Tips for College Grads

CONGRATULATIONS, GRADUATE!

You’ve undoubtedly secured a job and are ready for the first major purchase of your adulthood…your first car. Whether you’re looking for something to handle life in the city or if you’re in an area without reliable public transit opportunities, come to Bill Jacobs Volkswagen in Naperville to find the right Volkswagen for the next stage of life. Check out these Five Car Buying Tips for College Graduates:

1. Know What You Want

Are you looking for a sedan or compact vehicle like a Volkswagen Jetta or Golf? Are you looking for a sport size SUV like the Tiguan or Taos? Or are you looking for a full size SUV like an Atlas or Atlas Cross Sport? Maybe you are looking for a zero carbon emissions electric vehicle like the ID.4?

Comparing all the features and benefits of each of these types of vehicles is critical. If you need a car that can adapt to life in Chicago, a compact car that easily fits in a parallel parking space might be what you’re looking for. However, if your post college life involves many adventures and lots of gear you should be looking at an SUV with ample cargo space. There is no right or wrong answer…make sure you take the time to figure out what you want. Don’t rush. This is an important financial decision you want to take your time making. If you have questions which Volkswagen model is right for you, Contact Us and a member of our management team will be in touch shortly.

2. Buying Vs. Leasing

Is it better to lease or finance? That’s a question we get asked a lot here at Bill Jacobs Volkswagen. It’s a decision that’s made even tougher by equally enticing lease deals and finance packages. Below is a simplified list of the benefits of both options. For more information click here and learn more about Financing Vs Leasing your new Volkswagen.

• Lease payments on newer cars are typically more affordable. If your eyes are set on a particular vehicle that is a bit pricey, you may be able to afford the monthly payments if you get a lease.
• You’ll get a manufacturer’s warranty when you lease a new car. It typically covers you for up to 36,000 miles or three years, so you won’t have to worry about spending a fortune on repairs if a mechanical issue comes up.
• There are no mileage restrictions if you buy a car. But if you decide to lease, you will be limited to anywhere between 10,000 and 15,000 miles per year or risk racking up excessive mileage fees. They can cost you between 10 cents and 25 cents per mile or more, depending on the terms of the lease agreement.
• You’ll own the car once the loan is paid in full. Lease agreements operate a bit differently, though. You’ll have to return the vehicle to the dealer when the lease ends unless you opt to buy it out.

3. Know Your Budget

Make a checklist of the MUST-HAVE technology, luxury, and aesthetic features you need in your vehicle. The more on that list, the more expensive your purchase price will be. Are there items that can move to a WANT list? You don’t need to have your ultimate dream machine today. If you recently landed a job with a good salary that you will start after graduation, you may be able to afford a car with the latest technology and features. Still, you could be better off with a smaller ride without all the bells and whistles until you begin work and get more established in your career.

4. New Vs. Used

There is a lot to love about a new car. It’s shiny, in tip-top shape and smells good. But the reality is some used vehicles are just as reliable. Plus, you could purchase an extended warranty and have added peace of mind knowing you’re protected in the event of a major mechanical breakdown.

Consider the following when deciding between a new and used ride:

• Both New and Used Volkswagens come with a warranty. A new Volkswagen is covered by the Volkswagen Carefree Coverage which comes standard on all new Volkswagen vehicles. However, if you found a used vehicle that checks all the items on your list, you can purchase a VW Care Maintenance Plan to ensure your used vehicle will be well maintained.
• New cars often have all the latest technology. However, you may find a slightly used car with your desired features.
• Some used cars can have low mileage. Car buyers can get a better bang for their used car dollar with a low mileage vehicle. Because there has been less wear and tear on the vehicle you shouldn’t have as many mechanical issues for some time and maintenance costs will likely be lower.
• Some used cars are certified pre-owned (CPO). Bill Jacobs VW CPO vehicles are given the manufacturer’s seal of approval after being brought up to a set standard mechanically and have a limited factory warranty.

5. Look for Incentives

Through the Volkswagen College Graduate Program*, qualified recent graduates can get a $500 Contract Bonus** when purchasing or leasing a select new, unused Volkswagen vehicle through Volkswagen Credit.

How to qualify:

• You graduated within the last 24 months or will graduate in the next six months from a U.S. or Canadian college or university
• You are a U.S. citizen or permanent resident
• You have a full-time (permanent) job or written commitment from your future employer

VW College Grad Program
Now that you know you qualify for the Volkswagen College Graduate Program, what comes next? View our Online Inventory of new VW vehicles then schedule your test drive with one of our Sales Advisors. The team at Bill Jacobs VW will walk you through the entire car buying process, ensuring a quick, convenient, and uncomplicated process.

*College Graduate Program is subject to credit approval and is available to U.S. citizens or permanent residents who graduated from a U.S. or Canadian accredited college/university no more than 24 months prior to credit application. Volkswagen Credit will not request or consider immigration or residency status in the State of Washington. Applicant must be employed in a full-time permanent position or have a written commitment from a future employer. References, proof of income, copy of degree or official transcript, and contact information for college/university required. Credit history is not required, but existing credit must be in good standing and have no previous derogatory credit. Program good from January 4, 2023 to January 2, 2024. Program not valid in Puerto Rico. See your local Volkswagen dealer for details or, for general product information, call 1-800-Drive-VW. **Volkswagen of America, Inc. will pay a $500 Contract Bonus when customers eligible for the College Graduate Program lease or purchase a select new, unused Volkswagen vehicle through participating dealers and finance the lease or purchase through Volkswagen Credit from January 4, 2023 to January 2, 2024. Excludes ID.4 and Golf R vehicles and Certified Pre-Owned vehicles. Subject to credit approval by Volkswagen Credit. Bonus must be applied toward customer lease or purchase and is not redeemable for cash. Offer not valid in Puerto Rico. See your local Volkswagen dealer for details or, for general product information, call 1-800-Drive-VW.