Eligible Vehicles
- All new and unregistered Yaris, Yaris Hatchback, Corolla XRS models, Matrix XRS models, RAV4 V6 models and Tacoma models (including Toyota Canada Inc. demonstrators of these models only) by an authorized Toyota dealer.
- Toyota Graduate Program Allowance is in addition to any consumer retail incentives that may be available from Toyota Canada Inc. (TCI) at the time of delivery.
- Vehicle must be registered in the name of the applicant.
- Only one Graduate Allowance may be applied per vehicle.
- Toyota Graduate Program Allowance Applications must be submitted by the dealer within 30 days of vehicle delivery to be eligible for the Graduate Allowance.
- Each graduate is only eligible to receive the Graduate Allowance one time under this program.
Graduate Eligibility
You will graduate within the next four months or have graduated in 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 Requirement
| 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 (Technical program)** | 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.
Allowance Amounts
Yaris Hatchback: $500
Yaris: $500
Corolla XRS Models: $500
Matrix XRS Models: $500
RAV4 V6 Models: $500
Tacoma: $500
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.
Toyota Financial Services (TFS)
Leasing and Financing Benefits for Graduates
TFS offers advantageous financing and leasing benefits for qualified graduates:
- Terms up to 72 months on selected models
- Finance and Lease rates reduced by .20% – including any special low rates being advertised
- Security deposits waived on leases
Approval of the Graduate Program Allowance from Toyota Canada Inc. does not automatically include TFS approval of a lease or finance contract. TFS Financing and Leasing is available at all Toyota Dealers throughout Canada and can conveniently be arranged for you at the time of purchase.
How to Qualify for Financing and Leasing under the TFS Graduate Program:
1. Graduate Eligibility
Approval of Graduate Allowance from Toyota Canada Inc.
2. Credit History
Under the graduate program, no previous credit history is necessary. If you have already established some credit, it should be favorable.
3. Employment
You must be working full time, or have an offer of employment which will begin within 4 months of the credit application.
4. Income
Your salary should sufficiently cover vehicle payments, insurance, and living expenses. In general, the amount being borrowed should not exceed your annual salary.
5. Downpayment
A down payment is usually not necessary. Most graduates will easily qualify for a loan or lease.
Toyota Graduate Program benefits may not be combined with Customer Loyalty Programs.