College Graduate Program Question

[Verge]

Originally Posted by Jayp

From what I've been told, if you qualify credit wise, and you have the required graduation criteria, you qualify for the rebate. So if she doesn't qualify for the rebate but has the graduation criteria, that means she didn't qualify for the credit.

There is a minimum monthly income to qualify for credit, and according to what my dealership told me, TFS minimum income qualification is $1600 monthly. There are some exceptions in which they can try and get you qualified if you have a co-signer with an income more than $1600. But the chances of getting approved is lower because the bank will primarily look at the buyers income more than the co-signers'.

She was a full time student and didn't really work but she already has a position set once she is licensed and will definitely make over 1600 a month. Odd though that there would be a limit for those who just graduated and are not really working. I will call scion hq for this. Seems too contradictory.:s

[FR-S,M.D.]

Rebate and TFS program are two separate things. All eligible grads can get the $1000 off as long as they take delivery by July 3, 2012 (here in Canada). Eligible grads who also can provide proof of employment with salary enough to cover financing payments can also get 0.2% off the finance rate on top of the $1000 off. Have your dealer submit the paper work to Scion, you should know if you're approved within 24hrs, then negotiate sale. Also, make sure dealer takes the $1000 off the sales price instead of having Scion send you a cheque. That way the onus is on them to make sure you meet criteria re: delivery (e.g. my dealer back doored it by grabbing the VIN and putting the paperwork through while my car is still in Vancouver waiting to ride the train to Toronto).

[Hanakuso]

Well I found out residency program doesn't count for this. Was told because I make too much money...I didn't see a salary cap on the requirements/guidelines

[Brett]

Originally Posted by Hanakuso

Well I found out residency program doesn't count for this. Was told because I make too much money...I didn't see a salary cap on the requirements/guidelines

Salary cap? There was no mention of that when we bought or Sienna in 2009 or FRS in May. We used the college grad program both times.

Can you please provide a link to something documenting this cap? I can't seem to find mention off a cap.

Brett

[Hanakuso]

Originally Posted by Brett

Salary cap? There was no mention of that when we bought or Sienna in 2009 or FRS in May. We used the college grad program both times.

Can you please provide a link to something documenting this cap? I can't seem to find mention off a cap.

Brett

I'm almost sure the salesman just assumed, recent pharmacy grad + pharmacy residency = making a lot of money. Probably too lazy or something to do the paperwork. I never even mentioned the total salary although I don't understand why it matters unless it's under the $1600 required. I'm pretty sure even someone making $100 billion should still be qualified for the rebate

Ended up just putting the car in my parents name so i'm guessing i'm out of luck to even contact Scion

[Brett]

Originally Posted by Hanakuso

I'm almost sure the salesman just assumed, recent pharmacy grad + pharmacy residency = making a lot of money. Probably too lazy or something to do the paperwork. I never even mentioned the total salary although I don't understand why it matters unless it's under the $1600 required. I'm pretty sure even someone making $100 billion should still be qualified for the rebate

Ended up just putting the car in my parents name so i'm guessing i'm out of luck to even contact Scion

Not the choice I would've made. Do they buy your clothes too?

There's not even that much paperwork to do. The salesman isn't even the one that does it, the finance guy is. But hey it's your money, so if you don't care then I guess my response is: meh.

Brett

[Hanakuso]

Originally Posted by Brett

Not the choice I would've made. Do they buy your clothes too?

There's not even that much paperwork to do. The salesman isn't even the one that does it, the finance guy is. But hey it's your money, so if you don't care then I guess my response is: meh.

Brett

I don't think you need a loan and credit for clothes..

[excited86]

Did anyone who used the graduate program, were asked to pay the full amount before july 3, even through your has not arrive at the dealership yet?

[FR-S,M.D.]

I graduated med school and am in a residency program here in Canada, still qualified. I'm unlikely to get my car before July 3 (at port as of June 21), but I got them to put the rebate on my bill of sales when they were figuring out my financing amounts (also qualified for the 0.2% interest rate reduction). I haven't paid anything yet.

[Hanakuso]

Originally Posted by FR-S,M.D.

I graduated med school and am in a residency program here in Canada, still qualified. I'm unlikely to get my car before July 3 (at port as of June 21), but I got them to put the rebate on my bill of sales when they were figuring out my financing amounts (also qualified for the 0.2% interest rate reduction). I haven't paid anything yet.

I'm unfamiliar with how it works in Canada but does residency come after you get your degree?

[FR-S,M.D.]

Originally Posted by Hanakuso

I'm unfamiliar with how it works in Canada but does residency come after you get your degree?

Yes.