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What does TFS require from you in order to show proof of enrollment of a graduate degree program for their $400 discout offer? Do you need to buy and then present an official transcript to the dealership? I hope an unofficial transcript and a student ID will work so I can save that $10 my school charges :wink:
 

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sanguis said:
What does TFS require from you in order to show proof of enrollment of a graduate degree program for their $400 discout offer? Do you need to buy and then present an official transcript to the dealership? I hope an unofficial transcript and a student ID will work so I can save that $10 my school charges :wink:
One year to graduation or two years after graduation is eligeable for TFS
Colledge graduate discount program. I did one the other day, she sent me
a school transcipt and done !

Oh what a feeling to do TFS deal on the Prius!
 

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I am in grad school, I gave them a copy of my acceptance letter, along with a copy of my training grant information. (basically that says the NIH pays my tuition and fees and stipend guaranteed for 5 years) That satisfied the "in grad school" and "makes money" requirements.

They had also told me that if there was an online registration that I could show them, that would work as well.

They do require a certain amount of income. My wimpy 22K stipend wasn't enough to finance the whole amount, so my hubby had to put his info down. We were planning on financing together anyway but just for a heads up for you...

The $400 rebate is applied to the down payment. You also get a 6-mo deferment. Well, they gave us 6 mo in NC. I don't know about wherever you are.

Good luck! :)
 

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Discussion Starter #4
Im in graduate school part time for just a master's, and working full time. I've already got pre-approval from my bank, if TFS can match the interest rate, I'll go for the $400 savings. The generic TFS website payment estimater predicts a 1.5% higher interest rate with my FICO score than my bank--looks doubtful but will try anyhow

The TFS website only says 90 days, not your 6 mo deal; maybe its a NC thing
 

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We got a crappy rate from TFS but come Sept when our first payment is due, we're planning on refinancing for a lower rate somewhere else. Of course our rate is bad because we fnanced the whole thing over 6 years.

I was expecting a 90 day deferment too- but they spent 15 min on the phone with TFS and came back with a 6 month deferment. I didn't complain.
 

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sanguis said:
Im in graduate school part time for just a master's, and working full time. I've already got pre-approval from my bank, if TFS can match the interest rate, I'll go for the $400 savings. The generic TFS website payment estimater predicts a 1.5% higher interest rate with my FICO score than my bank--looks doubtful but will try anyhow

The TFS website only says 90 days, not your 6 mo deal; maybe its a NC thing
TFS wholesale buy rate these days at 5.25 % 60 months term: Qualification, Sign & Drive FICO at 730 or above. 690~729 at 5.45 %
Tier 1 at 730 + 5.55 % 690~729 at 5.65 % and so on. The fed has raised
the rate you know ! The lease rate is cheaper now days than finance rate.
 

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whoa whoa whoa!

we're paying over 8%- financed through TFS for 72 months. credit score 747. but I think it was 729 when they checked it. (just paid off credit cards etc)

what?????
 

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galaxee said:
whoa whoa whoa!

we're paying over 8%- financed through TFS for 72 months. credit score 747. but I think it was 729 when they checked it. (just paid off credit cards etc)

what?????
Galaxee, sorry that you had to pay that rate ! The law (CA) says that dealer
can mark up that "Wholesale" up to 3% points. However, if you want to convert that rate to:
TFS _Encore_ repeat customer rate then should be
at Buy rate _minus_0.25% so by converting it now you should be able to save
big time ! Providing that you have been with TFS for more than 11 months
Trick of the Trade.... I should not _Divulge_ classified industry secret but
hey I do love everyone in this forum.

Oh what a feeling to help some one !
 

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[quote="C.Rickey Hirose
Galaxee, sorry that you had to pay that rate ! The law (CA) says that dealer
can mark up that "Wholesale" up to 3% points. However, if you want to convert that rate to:
TFS _Encore_ repeat customer rate then should be
at Buy rate _minus_0.25% so by converting it now you should be able to save
big time ! Providing that you have been with TFS for more than 11 months
Trick of the Trade.... I should not _Divulge_ classified industry secret but
hey I do love everyone in this forum.

Oh what a feeling to help some one ![/quote]

Wow, thanks for the inside tip :)
I have only had a TFS account since March 17. But I will definitely check into converting to an "encore" account in February!
How do I get them to do this?
Thanks! :)
 

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galaxee said:
[quote="C.Rickey Hirose
Galaxee, sorry that you had to pay that rate ! The law (CA) says that dealer
can mark up that "Wholesale" up to 3% points. However, if you want to convert that rate to:
TFS _Encore_ repeat customer rate then should be
at Buy rate _minus_0.25% so by converting it now you should be able to save
big time ! Providing that you have been with TFS for more than 11 months
Trick of the Trade.... I should not _Divulge_ classified industry secret but
hey I do love everyone in this forum.

Oh what a feeling to help some one !
Wow, thanks for the inside tip :)
I have only had a TFS account since March 17. But I will definitely check into converting to an "encore" account in February!
How do I get them to do this?
Thanks! :)[/quote]

Just keep in touch, let wait till 11 months elapses and see what is the best solution for you then !
In meantime keep posting to "PriusOnline" advocacy is a virtue !
 

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I purchased in December. At that time I was offered 4.9% for 60 mo. for the highest credit score category. I'm making extra principal with each payment, so I believe I have myself down to 48 months at my current self imposed payment.

I did qualify for the recent college graduate program. I brought with me to closing my official transcript, but the dealer wanted a copy of my diploma, which we all know is not proof of being a college graduate. But they took copies of my transcripts with my degree notations and put me in the program. The only issue is that it took up until the beginning of this month for the $400 to actually be credited to my account. If I had wanted the 90 day payment deferment I would have been up a creek, however I wanted to start repayment immediately. The dealer basically didn't get the college grad program stuff filed correctly with Toyota Finance. I am not unhappy with my dealer, because they have continually treated me with respect and concern and seemed genuinely interested in getting me my rebate. I'm not happy with nearly 5 months to do it, but I would be significantly less happy if they dropped me like a hot potato and acted like they didn't care.

For those of you who are choosing to use the payment deferment, beware you are going to pay more interest over the life of the loan because the interest will accrue over the period of time you are allowed to not make periodic payments.
 

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We were fully aware of the accrued interest. Like jeromep, our plan is to pay increased principal. Our current payment is set to begin in Sept and is around $475/mo. We were planning on paying up to $1000/mo when it is feasible. At that rate we could have it paid off in under 3 years. But at the moment we don't know what hubby's income will be long-term. It may be drastically better after his promotion, or just a little better. Won't know for another 3 weeks or so. We were deferring to put a little money back into savings and finish paying for his car, and it is a huge help. In addition, his job will require another $5000 investment at the end of the summer so we have to prepare for that. When we are on more stable ground, say September, we will be much better prepared for a car payment so overall it was a benefit to us.
 

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Sounds like you folks are well planned right now and know what you are doing.

I was going to say that I was not pushed by my selling dealer to get an extended warranty, however they were willing to talk price and I was able to get a price very close to that which is currently on offer at priuschat. On top of that the finance officer I was working with reduced my rate to 4.45 because I was willing to purchase the warranty. Yes, I know about the gamble, etc. however I think I did ok on that gamble.
 

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C.Rickey Hirose said:
[However, if you want to convert that rate to:
TFS _Encore_ repeat customer rate then should be
at Buy rate _minus_0.25% so by converting it now you should be able to save
big time ! Providing that you have been with TFS for more than 11 months
Rickey...are you sure it's 11 months to get the encore? My dealer told me it was 9 months...I didn't need a loan, but took out a small one in order to get my wife the college grad rebate, etc....I had planned to pay off loan after 9 months in order to get the quarter-point if I ever need another TFS loan...if it's really 11 months I'd better reduce my payment amount.
Rob
 
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