http://www.lexusfinancial.com/lexus/...e_programs.jsp

Anyone ever used this? If so, good deal?

 

Usually those APRs are higher than what you can find elsewhere...

 

From what I have heard, college graduate programs are usually best for people without established credit or with poor credit. Unless you meet that criteria, I would think you might get a better deal (ie interest rate) from your bank or through a regular lease program. If you dont have any money to put down or want to put any down, that will probably make your payments much higher.

Brandon

 

okay thanks, i was just curious about what the graduate program entailed.

 

From what I recall it's only good if you have no credit - it doesn't help you if you have messed up credit. Also you need to provide diploma from a real college and NOT like ITT Institute or something. Plus if you just graduated then you will need a letter of employment saying you have a job waiting for you. I think it's up to 2 years after graduation but I forgot? Something close to that in any case.

It basically automatically gets you "Tier 1" which would be the lowest rate for lease or finance. It's a very good program.

 

Toyota has (or had) a college graduate credit of $500 off the purchase price, regardless who you finance through. You may want to see if Lexus has one also. My husband used it some years ago (more like 10 years ago) after he finished med school, which btw, was a "real college". LOL

 

haha... i just was reading this when i was opening my Lexusfinancial bill. like 2 min. ago. it really didn't impress me.

They should have a high school graduation program. thats when i bought mine.

 

That post high school grad program exists... aka... "Mom and/or Dad"! LOL

 

they only pay for insurence for me! rats!

 

i am getting my doctorate of physical therapy. i think it's a real graduate program

 

At one point it was up at $750 but I don't know if they still offer that.

I know the "real college" comment was funny but I used to get youngins come in naming off schools I never heard of before. There's a list of some sort my old boss used to check for these schools.

 

when i purchased my 250 i was told the program helped me get approved for the car and the interest rate that i recieved. coming out of college i did not have car credit because my parents purchased my first car. the is i bought on my own with no co signers which means some banks will not want to finance your car regardless of your credit, so basically it helps you get approved because they might want to to sell you the story of you cant afford the car being that youre straight out of college or some other dumb reason. i didnt get approved for the 350 the first go around because they said it was too much car for my first purchase so i settled for the 250, a year later i traded the 250 and got my 350! so maybe it helps but in my opinion its just something that will draw in graduates, btw every company has this program. ohh and they do ask to see your degree!

 

It didnt really help me much when I bought mine. I already had good credit and as others have mentioned, it really only helps you if you dont have very much credit established. They didnt even ask for my diploma.

 

i think its a great program! i dont think it has any affect on interest rates.. i used it when i bought my car solely because it deferred my payments for 3 months.. i was in the middle moving to a new city and the program did not result in any increased cost for me.. so why not? it turned out something like this... i graduated from college in may and accepted a job that i wouldnt be starting until the end of june. i bought my car the next week, paid my down payment/TTL, etc. and didnt have to pay a monthly note until the beginning of september.. ps. at the time of my purchase my credit rating was 740+.. plus, this was the first and only time i got to whip out my pocket diploma!

 

I finished my MBA, Masters of Finance & Accounting. I think that is a real graduate program as well.

Thats why I ordered a car for each degree.