Like as you signed... besides your down payment, do you have to give any money? like 1st months car payment etc?

____

 

When I finished signing, my dealer said I would get the first months bill in the mail. I've received thank you letters from Scion already,
but no Toyota financing stuff. Kinda worried here. I think my first payment is due next week or something.

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No, you don't have to give anything. Its not like an apartment where you have to pay first, last and security.

Once you sign the papers and agree on payments terms, financing, etc, you don't (or shouldn't) have to pay anything right there.

However, those next 60 months.......

 

Yeah all the hidden dealer fees get tacked nicely on to your financing. Any money you put as a downpayment obviously is a different story.

 

I got a temporary payment voucher within 2 weeks after buying the tC. They sent me a temp just in case the real payment voucher didnt come in on time...but it did..so i just saved it.

 

I didnt have to pay anything additional upfront but the bill for my first month's payment didn't come in time. So instead, I got billed for two months but was not charged anything extra (late fees and such).

 

Usually the first payment is due 1 month from the day you sign your papers. And it will come in the mail.

-Z

 

Same here. Finance department got lazy... But at least they admitted it.

 

I just got mine, literally (bought monday, picked up yesterday) - could have put money down if I wanted, but financed it all. I did end up paying $100 for like DMV fees and stuff though. But that may vary by dealer.

Oh... and I used the college grad discount and got $400 rebate/waived security deposit (as well as an awesome interest rate from it).

 

Do you know if you can buy from overseas and still do the finacial agreement or do ya have to pay it all in one upfront?

 

Any idea if you only get the college grad discount/rebate/whatever if you finance it through Scion? Or can you get the rebate no matter what?

 

Um... I don't think it should matter, you'd have to ask to be sure. I know it also works with leasing through Toyota too. But not sure if it will be valid for an outside loan.

 

You have to show proof that your graduated from something in the last 6 months, ie college, Junior College, High School, not too sure about training programs.

 

Well yea, of course I have to show proof. But the outside loan is the question. I know I'll have to ask, eventually.

 

Actually, it's if you've already graduated within the last 2 years. OR if you're going to graduate within the next 6 months.

--Proof can be transcript or copy of diploma or something.

You either have to have a current job (obviously) or show proof of employment within 120 days.

--Proof can be paystubs or offer acceptance letter or something similar.

 

there is a list ior requirements at the scion.com site. your dealer has the information as well. But, you DO need to finance with TFS in order to get the rebate.

 

Cool, just what I wanted to know - thanks!

 

I bought my tC October 19, 2005. I didn't get anything from Toyota Financing until December. My 1st billing statement showed a late fee for November! I called and they were nice enough to listen to my situation and removed the late fees. But I had a double payment due X-mas time. That kinda sucked.

 

Ya, I actually printed the page off for the deal when I went. Turns out my salesman had no clue about it. So it was good that I brought it up and had some info on that.

Here's some linkage if anyone would like to check out the full details:

-- Buying
-- Leasing

One thing that's not mentioned is the affect it has on the interest rate. You should automatically qualify for their "very good" interest rate. If you use their "build it" and then "customize payment info" stuff, it's the second level. That was a HUGE factor for me. Came to like 5.15% (but went up 1% when I added extended warranty/maintenance).

 

funny you say that.

i learned about the accessability and the college grad thing from a customer. Of course, i had just started selling scions and why would i have know that?