Texas - 2021 Toyota Tacoma lease maturing in one month. Noticed the option on recent statements for the potential to extend up to 6 months so I did not worry about the timing of vehicle replacement. I read through extension posts when I first leased and this seemed fairly common place. When I reached out to Ally today they indicated I “do not qualify” for a lease extension. This is my first lease. Is it standard to grovel for extensions or is this specific to Ally? Any suggestions to resolve?
Thanks!
1 month is plenty of time to find a new lease. Why don’t you start looking?
Can’t speak for Ally but it is their discretion on a courtesy lease extension. I’m not in the business but I’d bet there is some equity in your vehicle or used models are selling well so they want it back?
I can get you out of ally with equity most likely and have a new Toyota to you this month. Lmk if you need help
Jim
215-359-6836
Same thing happened to me. 2021 taco with Ally. their reasoning is they require manager approval for lease extensions from 4 to 6 months. I got 3 month extension on the spot no questions asked.
I was only planning to seek 3 month extension. When search online complaints on this issue it appears Ally does not provide consistent guidance. We can call 5 times and get 5 different responses. Their site has a link for extensions. However, it is not active.
Reviewing the site:
(never received this reminder)
- Will I receive a reminder about my end of lease?
We’ll send you a return kit about 120 days before your scheduled end date. The kit includes information about your end of lease options and how to prepare for the option you choose.
(this implies an extension is available)
- Can I get an extension at the end of my lease?
Yes. You may be charged a daily fee for the extension, and there is a limit on the extensions Ally will approve. Contact us for more information.
Ally site indicates extensions are available. .
Can I get an extension at the end of my lease?
Yes. You may be charged a daily fee for the extension, and there is a limit on the extensions Ally will approve. Contact us for more information.
2 declined attempts to extend lease for 2 months in spite of Ally emails and website both offering extensions. Today, attempt number 3, they granted the extension no questions asked. The first 2 call were clearly to an American based customer service department where again I was declined. My call approving the extension seemed to roll to a foreign call center, based on the accents and background noise. What a dysfunctional organization. In the middle of changing careers and glad to have a little extra time to decide on a purchase or lease.
