With most college graduations just around the corner, Toyota is trying to turn new grads into customers by offering them a $1,000 rebate towards the purchase or lease of several new Toyota and Scion vehicles.
Dubbed the College Graduate Rebate Program, the offer is available through the end of the year to customers who have graduated in the last two years or will graduate in the next six months. Buyers taking advantage of the program must finance through Toyota’s lending arm, Toyota Financial Services, and must choose from a list of Toyotas including the Corolla, Matrix, Camry, Tacoma, and Yaris, as well as Scion’s entire product range.
“Scion and Toyota vehicles are consistently some of the most popular vehicles among young adults,” said Mike Groff, Toyota Financial Services’ group vice president of sales, marketing, and product development. “More importantly, they provide dependable and safe transportation for new graduates getting to new jobs.”
According to Toyota, qualified college grads are also eligible for the automaker’s College Graduate Finance Program, which waives security deposit fees for leased vehicles and offers no money down and no monthly payments for the first 90 days of financing. Both offers can even be combined, with details available at toyotafinancial.com/college.
Undoubtedly, Toyota sees programs enticing recent grads as a way to gain customers for life, selling young drivers on the automaker’s products before they shop the competition. Since money is usually light for recent graduates, the programs often see high success rates since any amount of assistance can help turn a shopper into a buyer.
“We understand that it’s certainly a tough time to be entering this economy,” said Groff. “It’s our hope that this $1,000 rebate, which can be coupled with other incentives, gives these new grads a break and gets them securely started on their next phase of life.”