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I need to get a car. Should I justify a Prius?

Discussion in 'Gen 2 Prius Main Forum' started by rocketwidget, Mar 23, 2005.

  1. olends

    olends New Member

    Joined:
    Jan 1, 2004
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    Location:
    Clifton Park, NY (near Albany)
    does anyone know if you finance a used toyota through TFS do you still get the recent grad discount?

    i will also be graduating soon. and while i plan on running my rustbucket into the ground. it may need to be replaced soon.


    footnote- rustbucket is '92 pontiac bonnieville with 128100 miles
     
  2. BoBraxton

    BoBraxton New Member

    Joined:
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    Fairfax, VA
    You did not say where you are (and your new job) geographically. Near Washington, D.C., in Virginia you can have for $18.91 a VW Golf 1992 4-door that gets 34-46 mpg 5-speed because the Prius my spouse purchased last night (28th March) is replacing it. Take it today?
     
  3. galaxee

    galaxee mostly benevolent

    Joined:
    Mar 14, 2005
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    Location:
    MD
    Vehicle:
    2005 Prius
    The rebate is applied to your down payment. You wouldn't see any cash on that deal.

    I should clarify my situation as well. I did just graduate last May, but instead of taking a $36K/yr job I went to graduate school for a whopping $22k/yr income after tuition and fees are deducted(I got lucky I know but 22k isn't great) I also am married and have a decent second household income. Just for kicks I did a little calculation and found I could afford the can on my own current income though. Just to give you an example. Now the whole world knows the details of my finances... :) Not that anyone cares.

    I'm just happy we got that 6 month deferment as we have no savings at the moment! Just paid off all the new furniture and electronics we bought in August.

    Finally, used Prii do not qualify for the TFS finance deals. You have to buy new.
     
  4. jeromep

    jeromep Member

    Joined:
    Dec 8, 2004
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    Location:
    Eastern Washington State
    Vehicle:
    2005 Prius
    Model:
    N/A
    The recent college graduate rebate and payment deferral is through TFS. Other lenders may offer the same thing, however TFS is who gave me mine. The recent college grad program is up and running for 2 years after your official graduation date. I got in just under the rope. I took delivery on Dec 11, 04 and my graduation date was Dec 21, 02.

    The dealer was happy to get me set up with that program. I did not take advantage of the payment deferral. Keep in mind that if you take advantage of the payment deferral, you end up having to pay TFS the interest from the day of delivery until you start making payments and reducing your principal balance. That wasn't a particularly nice thought for me and started making my payments immediately. I also send along extra principal with each payment. If you can do it, do it! It will significanlty shorten your contract and reduce your interest exposure.
     
  5. BoBraxton

    BoBraxton New Member

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    Mar 28, 2005
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    Location:
    Fairfax, VA
    My college graduation was 6/6/1966 but I grew up about 30 miles west of Durham, NC.
    Silver #2 on its 3rd day, wife is driving. She bought it.