roger13134

I am trying to combine the Lexus 1k cash back and 1k Recent Graduate when buying (will be financing) a new 2017 ES 350. I will try and call Lexus financial services Monday but has anyone had any luck combining these two incentives? I've had 2 dealers said I can combine them, and another dealer said I cannot.

Wandl

You should be able to combine them.

roger13134

Thanks Wandl! The dealer is saying that with the 1k Lexus Cash you cannot be financing with Lexus dealer/ lexus financial services. However, with the college grad 1 k cash back you have to finance with Lexus dealer/lexus financial services... How do you work around this? And how do I prove it to the dealer so they give me both?

lesz

Whether incentives can be combined, I think, varies depending on which incentives you are trying to combine.

From the Lexus website in the details for the current $1000 cash rebate: " *Cash back available from Lexus, a division of Toyota Motor Sales, U.S.A., Inc. Offer not available when financing through your participating Lexus Dealer and Lexus Financial"

For the college grad reward program, it says " $1,000 reward when you purchase or lease a new Lexus between January 8, 2017 and January 2, 2018".

In essence, it looks like they are saying that you can get $1000 cash rebate and the $1000 college grad rebate if you are buying the car without financing through Lexus, but, if you finance through Lexus, what you are eligible for is current lease or finance terms plus the $1000 college grad rebate, but you are not eligible for the $1000 cash rebate for non-financed purchases.

roger13134

Thanks for the reply lesz! I think I get what you're saying and I feel like my dealer which were closing with tomorrow is pulling a fast one on me. To clarify:

If you are buying a new car and paying in cash (NO FINANCING) you can get the 1k Lexus Cash and the 1k college grad.

If you are buying a new car and need financing through LFS you CANNOT get the 1k Lexus Cash, instead you CAN get the 1k college grad rebate AND favorable financing terms?

From their website "The College Graduate Reward Program and College Graduate Finance Program are available upon credit approval from and execution of a finance or lease contract through a participating Lexus dealer and Lexus Financial Services (LFS)" The word AND implies both the 1k reward and finance program. However, to my knowledge and from what I am hearing it sounds like Lexus will give you 1k for college grad simply for buying or leasing a new car REGARDLESS if you are financing through Lexus Financial Services or not?

lesz

I believe that is correct. At least, that is the way that I read it from the Lexus site.

I believe that there is also an unadvertised incentive available for buyers who currently own a non-Lexus vehicle. I got that information from a dealer yesterday. I believe that it was for either $500 or $1000.

There was also a $1000 certificate available from Lexus for the purchase of any Lexus vehicle before 12/31/2017. That promotion was related to the US Open Golf Tournament, but I believe that the promotion is over.

Wandl

Plus keep in mind sedan sales are slowing all throughout the US so the $2k in incentives you should be able ot bundle together is in top of any negotiations you can work off the MSRP. I'm very out of date on this but there is a few topics here on CL as well as in Edmunds around what others have paid for a new ES350

LexBob2

You bring up a good point. Thru May, ES sales are -25% so dealers should be motivated.

roger13134

Thanks everyone for your help!! Issue is resolved. After some arguing they let me use the rebate if I financed with LFS at a noncompetitive rate. All in all, the fine print was very confusing and it ends up being up to the dealers discretion. I called corporate and they said its up to the dealer. Thanks for your advice!! I ended up with a new 2017 ES 350 for 5.5k off MSRP plus 2k in incentives. Also managed to get acouple hundred off extended warranty plan. Very happy new owner!

Wandl

Check out with Toby (search these forums) for Lexus VSA pricing, he usually provides one of the best rates and compare that with what your extended warranty plan costed. But congrats on your new ride, $7500 off MSRP is pretty good, that is about 15-18% off!