Lexus Doubles College Grad Discount to $2000

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Lexus has doubled its discount for recent college grads to as much as $2,000 in some parts of the country. According to an incentive bulletin sent to dealers on the East Coast today, the new pilot program aims to attract a "younger, more diverse consumer," with a new deal on certified pre-owned Lexus models as well.

Lexus College Grad Rebate Doubled​

While most major brands offer college grad rebates, the new $2,000 incentive is by far the largest we've seen to date from Lexus. In its letter to dealers, the company calls this "a first ever pilot for any Lexus Area office." In other parts of the country, recent college grads can expect the brand's standard $1,000 incentive.

What's more, college graduates choosing a Lexus Certified pre-owned vehicle can score a $1,000 cash incentive. Automakers typically don't offer rebates on used cars, making this quite unusual. Lexus says that the changes are "all with a goal to pivot our brand" and "primes us for growth by attracting a younger guest."

But is a new Lexus right for the average college grad? The cheapest Lexus model is currently the UX 200, a subcompact crossover SUV with an MSRP starting at $34,525 with destination. However, a closer look finds that the brand's financing rates have crept up from 2.99% APR to 3.49% to start the month of June.

Lexus $2,000 Grad Deal Has Practically No Exclusions​

This rate increase, along with higher lease prices, could make a Lexus even less affordable than normal. Fortunately, there are deals if you know where to look. For example, the 2022 Lexus ES features as much as a $2,500 lease cash incentive while a new Lexus RX has up to $1,500 in savings you can't get when buying.

This could present an opportunity for college grads to take advantage of rare savings that didn't exist before. To qualify, you'll need to currently be enrolled, show proof of an upcoming graduation within 6 months, or have graduated within the past 2 years, and finance or lease your vehicle through Lexus Financial Services.

Interestingly, our analysis finds that higher-end models like the new Lexus IS 500 F Sport Performance are eligible for the $2,000 incentive. This effectively offers the only way to save on the limited-production V8 sedan. For the right buyer, this could equate to a surprising bargain on a car typically excluded from deals.

Offer ends on June 30th.
I suppose this is a good offer in our times, though how many college grads will be able to afford a Lexus right out of school unless they get a pretty darn good first job. Might be good for mom and dad to co-sign!
 

qtb007

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I suppose this is a good offer in our times, though how many college grads will be able to afford a Lexus right out of school unless they get a pretty darn good first job. Might be good for mom and dad to co-sign!
My brother took advantage of the college grad discount when he finished his master's and my parents bought a Tacoma for him.

I had to give my [much cheaper] car back to my parents after I opted to not get a master's. Mom was mad. haha