I am not sure if IL residents know about this. But, IL offers $1000 rebate when you purchase a new hybrid and finance it through a approved banks and credit unions. You are allowed 1 rebate per year per person. I have done this 2x. It started in July of 2007. Rules differ for each bank and credit union. But, mine has a $2000 minimum and 60 days out on the loan. So, this is better than paying cash. Here is the link to the offer: Alexi Giannoulias - Illinois State Treasurer
I didnt know about this.....The dealer never mentioned anything about this credit..How do I take advantage of it?
That is good news that states are offering these types of initiatives. I live in Connecticut and bought my Prius in January where I paid no sales tax. At a 6% tax rate that was a nice benefit.
Hopefully they didn't already file your paperwork and there is still time to do something about it. Did you finance your car or pay cash? I PMed you.
I have come to find out that this program isn’t really publicized. When I went shopping at a dealer in Chicagoland they knew about it and when I was walking out of the door they offered $1000 off if I finance with them to get me to purchase from them. But, I already knew about the program and was going to use my credit union. Needless to say I didn’t purchase from them.
Well, that is easy to fix. Just call up the dealer and ask them you decided to finance the car and ask them about the Green Rewards program. Otherwise just use the banks or credit unions that are participating and do it that way. It doesn't take a long time. You just fill out a credit app and they cut a check out to the dealer. If you live in Elgin you can use my credit union. PM me if interested.
What makes certain banks & credit unions approved? Also how do I find out if my bank is approved? Is this a rebate thru the state, the dealer or what?
It is a rebate offered through the individual states. I am here in Illinois, and the program here apparently ended at the end of April 2008. I bought my Prius from Elmhurst Toyota and I financed through the dealer, with Chase bank and I got my $1,000 gift/debit card already in the mail, last month some time I think.
