Came acriss this while looking at my account. Curious if anyone has ever seen this or tried it.
The IncomeDriver Notes® program is a direct investment in senior notes issued by Toyota Motor Credit Corporation (“TMCC”). IncomeDriver Notes® pay a variable rate of interest and are redeemable at any time. IncomeDriver Notes® are not a bank account or a money market fund and are not FDIC insured. IncomeDriver Notes® are offered in the U.S. only, and only by means of a prospectus. Review the prospectus before you invest.
@Anonymous wrote:Thanks for posting. I'd never heard of this before. Read (okay, skimmed) the prospectus, and did a little more searching on Demand Notes in general and found Mercedes has a similar scheme, with a slightly better return: https://firstclassdemandnotes.com/about
This definitely interests me, as I like to maintain a decent amount of cash, but even my 'high yield" savings/money market accounts are barely over 1% currently. I can certianly see pursuing on of these.
Are you considering it yourself?
I was more curious than anything, but at 2.00% with $500 minimum, I may toss some cash at it for s&g.
I didn't notice the rate for Mercedes.
@Brian_Earl_Spilner wrote:Came acriss this while looking at my account. Curious if anyone has ever seen this or tried it.
The IncomeDriver Notes® program is a direct investment in senior notes issued by Toyota Motor Credit Corporation (“TMCC”). IncomeDriver Notes® pay a variable rate of interest and are redeemable at any time. IncomeDriver Notes® are not a bank account or a money market fund and are not FDIC insured. IncomeDriver Notes® are offered in the U.S. only, and only by means of a prospectus. Review the prospectus before you invest.
These are general unsecured obligations of a single company, not insured by any agency.
Personally I think it would be crazy to put one's money into such a thing; I'm surprised they're even allowed to sell them to the public.
@SouthJamaica wrote:
@Brian_Earl_Spilner wrote:Came acriss this while looking at my account. Curious if anyone has ever seen this or tried it.
The IncomeDriver Notes® program is a direct investment in senior notes issued by Toyota Motor Credit Corporation (“TMCC”). IncomeDriver Notes® pay a variable rate of interest and are redeemable at any time. IncomeDriver Notes® are not a bank account or a money market fund and are not FDIC insured. IncomeDriver Notes® are offered in the U.S. only, and only by means of a prospectus. Review the prospectus before you invest.
These are general unsecured obligations of a single company, not insured by any agency.
Personally I think it would be crazy to put one's money into such a thing; I'm surprised they're even allowed to sell them to the public.
The buying and selling of corporate bonds is neither unusual nor is it crazy. One does need to be informed as to the general financial condition of the company and the specifics regarding the bonds being issued.
@coldfusion wrote:
@SouthJamaica wrote:
@Brian_Earl_Spilner wrote:Came acriss this while looking at my account. Curious if anyone has ever seen this or tried it.
The IncomeDriver Notes® program is a direct investment in senior notes issued by Toyota Motor Credit Corporation (“TMCC”). IncomeDriver Notes® pay a variable rate of interest and are redeemable at any time. IncomeDriver Notes® are not a bank account or a money market fund and are not FDIC insured. IncomeDriver Notes® are offered in the U.S. only, and only by means of a prospectus. Review the prospectus before you invest.
These are general unsecured obligations of a single company, not insured by any agency.
Personally I think it would be crazy to put one's money into such a thing; I'm surprised they're even allowed to sell them to the public.
The buying and selling of corporate bonds is neither unusual nor is it crazy. One does need to be informed as to the general financial condition of the company and the specifics regarding the bonds being issued.
Is that where the term "junk bonds" came from?
... (I know the answer)