Volkswagen lures customers with college savings option

Hello 60s? Volkswagen is calling. The renowned manufacturer of the hippie vehicle of choice, the Volkswagen bus, is once again trying to lure the college audience, or at least the parents of college students, many of whom probably drove a bus in the 60s, by issuing a new minivan with an added incentive - $1,500 that can be moved directly into a 529 college savings account.

For customers who purchase the new Routan minivan and make a down payment, Volkswagen will deposit $1,500 into an account held by Upromise Inc., a subsidiary of SLM Corporation which owns Sallie Mae Bank. The money can then be moved into a Section 529 college savings account. The folks at Volkswagen report that there have been 6,000 takers so far.

To qualify for the rebate program, vehicles must be purchased or leased by August 31, 2008 and delivery must occur by November 30, 2008.

The price range for the Routan is from $24,700 to $38,400. The vehicle is to be produced by Chrysler and based on the Dodge Caravan and Chrysler Town & Country platform.

You can read more information about the program on the Upromise Web site.

You may like these other stories...

London Stock Exchange switches auditing to EYThe London Stock Exchange will drop PwC as its auditor and replace it with EY after completion of the audit for the year ending March 2014, Harriet Agnew of the Financial Times...
The Penn State Smeal College of Business is offering a new concentration of courses for accounting majors interested in entering careers in corporate accounting and financial management immediately upon earning their...
CFOs are having a tough time filling vacancies quickly in their accounting and finance departments, according to a new survey from staffing services firm Robert Half.Open staff-level positions in accounting or finance take...

Upcoming CPE Webinars

Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.
May 1
This material focuses on the principles of accounting for non-profit organizations’ expenses. It will include discussions of functional expense categories, accounting for functional expenses and allocations of joint costs.