Toyota Financial Services has crafted three finance plans tailored for customers of Scion, Toyota's new youth brand.
The loan plans and a lease deal are offered for each of Scion's two models — the xA hatchback and the xB SUV. They went on sale in California this summer. Rollouts to other states start this fall.
College grads with proof of employment are eligible for a low-rate six-year loan and a $400 cash rebate. A waiver of any security deposit is offered if the graduate prefers a lease.
A buyer with no credit history and a minimum monthly gross income of $1,500 can borrow $18,000, up to 90% of dealer invoice.
A customer with limited credit history can qualify with a minimum 10% down payment for an $18,000 loan up to 100% of dealer invoice. Or, he or she may obtain a lease.
Interest rates under the “Scion Solutions” program range from 4.5% for low-risk consumers to 6.25% for those with a fair history, and 9.0% with no credit record.