Toyota is giving college graduates a $1,000 rebate toward the purchase or lease of select new Toyota vehicles and any new Scion. The Toyota models included are the Corolla, Matrix, RAV4, Camry, Tacoma and Yaris.
"Toyota and Scion vehicles are some of the most popular vehicles among young adults, but more than that, they serve as a dependable way for new graduates to get to new jobs and start their careers," said Mike Groff, Toyota Financial Services group vice president of sales, product and marketing.
Toyota Financial Services, which gives car loans and leases for Toyota and Scion buyers, is also offering college graduates special incentives to finance their new car through the company, but with several rules required to qualify. The college graduate finance program, which is even good for new Lexus vehicles, offers a “highly competitive” auto loan rate or lease and other special incentives, according to TFS.
Qualified grads will be offered no money down for car loans and no monthly payments for the first 90 days when leasing, a security deposit waiver for the lease and complimentary roadside assistance for a year.
Don’t get too excited yet though. There are a ton of rules and restrictions to get the $1,000 rebate and special financing incentives. The biggest rule is that you have to actually get a job. Good luck with that. Our guess is that not too many recent college graduates will qualify for this program based on that rule alone.
Toyota Financial Services says you must meet all of the conditions below to qualify:
— Get that degree! To take advantage of the program you must:
— Have graduated from an accredited four-year college, university,
or registered nursing degree program during the last two years or
graduate from such a school/program within the next six months, or
— Have graduated from an accredited two-year college during the last
two years, or
— Be enrolled in an accredited graduate degree program or have
received a degree from an accredited graduate program during the
last two years, or
— Have graduated during the last two years from the two-year Toyota
Technical Education Network (T-TEN) Program or any other two-year
post secondary automotive program accredited by the NATEF, or
— Have completed an electrician apprenticeship/cert. program during
the last two years through NJATC and IBEW.
— Get a job! Show proof of present employment, or future employment with
a start date within 120 days of your purchase contract date. TFS must
deem your salary sufficient to cover living expenses and vehicle
— Minor credit lapses allowed! Obligations paid within 60 days or less
of the due date and non-credit related (e.g., rent, utilities, health
club membership, etc.) charge-offs less than $250 are acceptable.
— On approved credit through participating Toyota dealers and Toyota
Financial Services. Not all applicants will qualify. Terms, conditions
and restrictions apply.