With the Deferment Program, your customers can defer their first payment for up to 90 days from the contract date on retail contracts submitted to Subaru Motors Finance (SMF).

Applicant Qualifications
• A FICO score of 700 or higher is required for all applicants.
• Business borrowers must have an individual as a co-borrower.
• Standard credit criteria apply.
• Minimum 5-year credit bureau history with five (5) satisfactory trade lines.
• Bureau history must be free of any repossession, bankruptcies or foreclosures.

Program Requirements
• New and current year used vehicles are eligible.
• Program is for standard retail and Manufacturer Special Low Rate Program contracts only.
• Lease agreements are not eligible. • Total amount financed, including tax, title and license (TT&L) and all aftermarket products, is limited to $50,000. o See your current Product Reference Sheet for more information.
• Amount financed can't exceed 75% of applicant's gross annual income.
• Maximum term is 60 months.

Additional Information
• State standard and Manufacturer Special Low Rate Program APR rates apply. The rate will be reflected in your approval notice.
• The customer's monthly payment must be calculated using the actual days to first payment.
• Avoid funding delays: Before submitting a contract, use the Comments to Analyst function on Dealertrack® or RouteOne® to let an underwriter know that you're submitting the contract with the deferred payment option.
• This program can't be used with any other special programs.
• This program isn't available in Pennsylvania.
• All standard Indiana and Ohio retail contracts must disclose the Loan Origination Fee (LOF). The LOF does not apply to retail contracts with Manufacturer Special Low Rate Program rates.
• Some GAP products can't be sold on the Deferment Program since they don't all cover losses on contracts with a deferred first payment. Check the terms of all GAP products to confirm coverage and if unequal or irregular first payments are covered.

All applications subject to credit approval by JPMorgan Chase Bank N.A. through Subaru Motors Finance (SMF) and programs may change at any time. Not all programs available in all states.

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