First Time Buyer Program

Buying your first vehicle is a big step—and we’re here to help make it easier. Our First-Time Buyer Program is designed for customers with limited or no previous auto credit, giving you a clear path to get behind the wheel.Eligible applicants will be identified automatically, eliminating the need for program selection and streamlining the origination process.

Eligible customers may be identified automatically during the application process, helping simplify and speed things up.

Who May Qualify

• Applicants who have no prior or current vehicle credit
• No derogatory or delinquent credit history (past or present)
• Minimum customer down payment of $1,000 or more (excludes rebates and incentives)

Income Requirements 

• Applicant must have valid proof of income

Product Parameters

• Loan: All new, CPO, and used Subaru vehicles (up to 12 model years old) are eligible (excludes WRX)
• Lease: Vehicle must be new Subaru (excludes WRX)
• Loan: Maximum term is 72 months and maximum LTV is 110%
• Lease: Maximum term is 48 months and maximum LTV is 100%
• Maximum Amount Financed / Capitalized Cost: $40,000
• Maximum Payment-To-Income (PTI): 15%
• Maximum Debt-To-Income (DTI): up to 50% (based on credit approval)

Pricing

• Standard rates apply; retailer participation per SMF policy
• May be used with applicable SMF subvented programs