Getting started is always tough, that's why Toyota Financial Services has a Graduate Program designed to help you when you need it most. Toyota Financial Services will put you behind the wheel...
- Even if you have no credit history
- With a special rate reduction on a new or Toyota certified used vehicle
- With a waiver of the security deposit on all leases
Eligible Vehicles
All new and unregistered Yaris, Yaris Hatchback, Corolla, Matrix, RAV4 and Tacoma models (including TCI demo vehicles of these models only), and Toyota certified used vehicles delivered by an authorized Toyota dealer.
Toyota Graduate Program Allowance is in addition to any consumer retail incentives that may be available from Toyota Canada at the time of delivery.
Vehicle must be registered in the name of the applicant.
Only one Graduate Allowance may be applied per vehicle.
Applications must be submitted within 30 days of vehicle delivery to the customer to be eligible for the Graduate Allowance.
Graduate Eligibility
Must be within four months of graduation, or have graduated within the last four years, from an accredited Canadian university or college.
The four-year eligibility period will be measured from the date shown on the graduate's diploma. Applications outside the specific forty-eight month period cannot be accepted.
Minimum Requirements
| Eligible Schools* | Eligible Degree** | Minimum Length |
| University | Bachelor*** | 3 years |
| College of Applied Arts and Technology (outside Quebec) | Diploma** | 2 years |
| Cegep (Quebec) | Diploma of College Studies in technique** | 3 years |
* Registered Private Vocational Schools are not eligible
** Certificates/Attestations are not eligible
*** Post-graduate degrees (Masters, PHd, etc...) are not eligible
Graduates from non-Canadian schools may qualify... however, the applicant may be required to provide proof that the school is accredited through the applicable foreign governing body.
Each graduate is only eligible to receive the Graduate Allowance one time under this program.
Allowance Amounts
| Vehicle Type | Allowance |
| 2008/2009 Tacoma | $1,000 |
| 2007/2008 Yaris | $500 |
| 2007/2008 Yaris Hatchback | $500 |
| 2008/2009 Corolla | $500 |
| 2008/2009 Matrix | $500 |
| 2007/2008 RAV4 | $500 |
| Toyota Certified Used Vehicles | $500 |
Effective June 5, 2008
Required Documentation
Copy of diploma, or letter from Registrar's Office confirming graduation within the next four months.
Copy of Vehicle Purchase or Lease Agreement.
If graduate's name on diploma is different from name of applicant, documentation of the name change is required.
If student graduated from a non-Canadian school, proof of school's accreditation from applicable foreign governing body may be required.
Procedure
The Dealership is responsible to ascertain that the applicant meets the required terms and conditions before an Allowance Application Form is submitted.
Upon acceptance of the application, the Dealership will be faxed the form indicating approval. If the application does not meet the program's terms and conditions, a letter will be faxed to the Dealership indicating "Application Ineligible".
Payment Procedure
Applicants have two payment options:
- Option A: receiving payment directly from Toyota Canada Inc.
- Option B: assigning payment to the Dealership
If Option A is selected, a cheque will be mailed directly to the applicant from Toyota Canada Inc.
If Option B is selected, a cheque will be issued directly to the Toyota Dealership from Toyota Canada Inc.
IFS Leasing and Financing
Toyota Financial Services offers advantageous financing and leasing terms, including a graduated payment feature on retail loans (not available in Quebec), for qualified graduates. Approval of the Graduate Program Allowance from Toyota Canada Inc. does not automatically include TFS approval of a lease or finance contract. Please contact your Toyota Financial Services Branch Office for details of the criteria and procedure for TFS approval.
Toyota Graduate Program may not be combined with the Encore Program.
To qualify for a loan or a lease with Toyota Financial Services Inc., we look at the following:
Credit History
Under the graduate program, no previous credit history is necessary. All we ask is that if you have already established some credit it should be favorable.
Employment
You must be working full time, or have an offer of employment which will begin within 4 months of the application.
Income
Your salary should sufficiently cover vehicle payments, insurance, and living expenses. In general, the amount being borrowed should not exceed your annual salary.
Down-payment
None is necessary unless you choose Graduated Payments (not available in Quebec). Most graduates will easily qualify for a loan or lease.
Benefits of the Grad Program
- Terms up to 60 months
- Rates reduced by .20% - including any special low rates being advertised
- Security deposits waived on leases
