Just one hitch to the $1,000 Toyota Financial offer
Toyota Financial is offering a $1,000 rebate to recent grads of four-year and two-year colleges. Sounds great. No money down. Free roadside assistance for a year. Security-deposit waiver if you're leasing. Even if you graduated two years ago you still get the rebate. Good on all the non-hybrid models. Go for it! Except -- you knew this would happen -- read the fine print.
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 payments.
In this economy, that's a deal-killer. I know several people graduating from college. I know only one who will have a job.
UPDATE: To which wise commenter Pete adds the corollary:
But also a credit-saver. No sense in getting into a financial commitment you have no ability to live up to, and no sense taking on credit risks and bad debts. Calling it a deal-killer puts it in a negative light, as though we've learned nothing from the housing and financials meltdowns.
Comments
But also a credit-saver. No sense in getting into a financial commitment you have no ability to live up to, and no sense taking on credit risks and bad debts. Calling it a deal-killer puts it in a negative light, as though we've learned nothing from the housing and financials meltdowns.
Posted by: Pete | May 21, 2009 11:10 AM
Is this not an indictment of the university system? 4 years of college, $40,000 in debt and an hourly job offer to manage a fast food franchise in the waiting?
Jim Rogers is right. Best to teach your kids to speak Mandarin and to have an affinity for far-east cultures.
Posted by: Dan | May 21, 2009 11:21 AM
If you don't have a job lined up, then what are you doing getting a car? I mean, you can say whatever you want, but if you aren't getting paid, then its no good taking out a loan. The college grad rebate is good for 2 years after graduation. If you don't have a job in that time - you haven't been looking.
Posted by: Clay | May 21, 2009 4:02 PM