Dealership wanting additional $1000 after sale due to New Grad Program/their error!

[EARN]

Hello,

I purchased a 2012 Toyota one month ago. As a new grad, I was told that I qualified for the Toyota College Graduate Finance Program, a rebate of $1000. They asked for proof of graduation, which I gave them.

Today, I received a call, stating that they need proof of my employment for the program. Apparently, this is one of the stipulations of the rebate, but this was never mentioned to me. Had I known, I would have likely turned down the rebate and the sale.

Can they come to me at a later date and ask for additional information? I do not believe I was properly informed. Or maybe due diligence was not performed on their part before the sale. It is their job, not mine, to determine eligibility.

Either way, It is not my opinion that I have a legal responsibility to fork over another $1000. Thoughts??

 

[mightymoose]

They can ask, but unless you agree parties are bound to the existing contract.
Tell them no, or even better don't speak to them at all. Pay your bill as agreed and move on.

 

[EARN]

Thank you! We will see if they leave me alone.

 

[mightymoose]

Also check your contract for a clause which allows for the dealer to cancel it within a specified time after the sale. If it has been over a month then that period has likely expired, otherwise they could potentially take the car back. I doubt they would do that over an issue like this though. That clause has more to do with financing.

 

[army judge]

Yes, one would need to prove employment before receiving any loan. I suggest you read your contract. There is a clause (or clauses) that spell out what you must provide (and/or do), in order to receive any loan.


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[disagreeable]

Do you by chance actually qualify?

Making the grade: How to qualify
To qualify for the rebate, you'll need to meet the following graduation, employment, insurance and credit criteria requirements.

Earn your degree. To take advantage of the program, you must meet one of the following:

Have graduated from an accredited four-year college, university, or registered nursing degree program during the last two years or graduate from such a school/program within the next six months
Have graduated from an accredited two-year college during the last two years
Be enrolled in an accredited graduate degree program or have received a degree from an accredited graduate program during the last two years
Have graduated during the last two years from the two-year Toyota Technical Education Network (T-TEN) Program or any other two-year post secondary automotive program accredited by the NATEF
Have completed an electrician apprenticeship/certification program during the last two years through the NJATC and the IBEW

Get to work. At contract signing, show proof of present employment or future employment with a start date within 120 days of your purchase contract date. Note that TFS must deem your income sufficient to cover living expenses and vehicle payments.

 

[EARN]

Allow me to add...I am married and we correctly reported only his income. My credit and his credit is in the 800s and his income is more than enough to buy me a Toyota.

They are fully aware that I am not employed, only a new graduate. My point is that I was told that I qualified on the basis of being a graduate, (which is untrue) and signed a contract based on that.

 

[mightymoose]

My point is that I was told that I qualified on the basis of being a graduate, (which is untrue) and signed a contract based on that.

Which is their fault, not yours. If they caught it in time (check the contract) they could potentially take the car back if you refuse to pay.
What they can't do is force you to pay more than what you signed for.
It sounds like you might be past the period where they can cancel the contract, and they will just have to eat the loss.
Personally, I would ignore them.

 

[army judge]

If you don't have it in WRITING, they'll deny ever saying it. You have no case. I suggest you move on. No one loans you money without a means to repay. As you don't have an income, you won't get a loan. A loan implies the ability to repay, either by a JB, or independent means. However, if you had a trust fund, you wouldn't need a loan.


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[mightymoose]

Army- I don't believe ability to repay is the issue. The issue is not financing, but that proof of employment was required to obtain the rebate. After the deal was done, apparently more than a month after, the dealership wants the OP to give the rebate money back. The dealership likely blew it by not verifying everything in time. The ink is dry- OP is not likely on the hook to repay anything and the dealership will have to eat the loss.

 

[army judge]

Most people don't know this, but until the borrower makes the first payment, the dealership is a co-signer on most auto loans. Read your contact, the details are buried deep with the belly if the beast.

 

[EARN]

Just thought I would follow up.

After several attempts to reach the finance manager, who did not call us back, we went to his office. He told us that either the loan company would either have to accept the loan as is or the dealership would "eat it." Have not heard anything else, but I do have my first loan payment statement which is as it should be.

Thank you to mightymoose and army judge for your assistance.