lexi90

JW111;

First off, I am in the same page as you are as I'm shopping around for my 3IS. You definitely want to start negotiating the sales price. Don't focus on one dealer, get quotes from multiple ones. Start by contacting Internet Sales Specialists. Then, once you've negotiated a fair price, bring up the College rebate! I already tried it at one of my local dealers and it worked. I'm just still negotiating and seeing who gives me the best deal! Good luck!

Jbreezie

But the $1k could and should be used for the fees or as a cap reduction? Does the money get refunded later?

gmanusmc

This particular thread is about a retail purchase - not a lease. The $1k will be applied to reduce the net cost of the vehicle. In this case, the OP plans to finance the minimum amount required to hopefully qualify for the college grad rebate. I recommend you review this thread from the beginning to help clear things up for you.

jw111

So I ended up going in today to look at a 2014 IS 350 F-Sport, and worked my way down to a pretty decent price. The car was silver with red interior and Nav, blind spot monitors, and the variable gear ratio steering for an MSRP of $47,558. Negotiated it down to $43,435 OTD, and the additional $1,000 for the college graduate program. However, we went through the whole sale up until the final signing, when the financial manager said that I wouldn't be able to qualify without the proof of income. But the sales manage, in a gesture of good faith, brought the price down more to $43,000 OTD. It's not the best price, but I'm still happy with my purchase and definitely don't feel ripped off.

Anyways thanks to everyone who replied and helped me out, and I'm finally a proud new IS owner!

gmanusmc

Congrats on your new IS - you're gonna love it!

Glad everything worked out and you are happy with the car - that's not a bad deal at all.

That's too bad about the rebate - I think Lexus should've stepped up and gave you credit for it.

lexi90

Congrats on your purchase. I am sealing my deal tomorrow. Hopefully, I don't have the same problem with the College rebate. So far, the salesman asked for proof of college degree specifying date of graduation. I'll report back tomorrow!

Akrkwk

If your FICO is +760 with a couple autoloans paid off satisfactorily in the past
They probably wont ask for any proof of income

I had two cars under my credit (BMW M4, 2012 328i Msport) when i got my IS250 a month ago
Just like when i leased 70k car back in august using bmwfs for their new grad incentive. They didnt ask me for proof of income Thats good because i dont have an official job even thought i can provide them with proof from my parents business if i wanted to

When i leased is250 a month ago, i had two cars with more
Than 45k in autoloan financed on my credit Lexus financial didnt ask me for a thing when i applied for autoloan using new grad incentive

My credit score is 789

lexi90

Akrkwk, I close my deal today. All I was asked for was proof of graduation or degree. I proudly showed them my Bachelor's degree

lexi90

To the OP,

I closed my lease deal today! College Grad discount comes off the vehicle's MSRP. In my case, it came in a form of cap cost reduction which is used for leases. I got $1,000 off

Akrkwk

Awesome! I misread ur post and thought u were scheduled to graduate so i edited my post
Yea its awesome to get additional $1000 off ur final capcost

lexi90

Yes, sir. At the end of the day, it pays to be a college graduate

GaryJG

You don't need to have any rebates to get best price. Just negotiate. Most dealers will discount at around 20% off MSRP in So. Cal.