I signed a lease last night for a 2020 AWD Traverse. $459/month with a 54% residual value.
Today the finance manager called me and said when they sent the agreement to US Bank for processing the bank came back and told them they had overestimated the residual value. He said they went ahead and ate the difference in cost to keep my payment the same even though it should’ve gone up. Is this legit? They want me to come in and sign a new contract.
The weird thing is in all my research the residual was HIGHER than what the dealer said the bank was giving them. Check out this thread- Deal Check 2020 Chevy Traverse AWD LT1
Edmunds told me 59%, and in this thread someone is referencing Ally bank up in the 60’s. Do i have any recourse here, is this legit, and should i be concerned, should i try and renegotiate something? Thanks!