Ladies and gentlemen, I solicit your knowledge, comments, and expertise here. The above mentioned vehicle is my 5th new vehicle lease to date. A Ford, 3 GM’s, and now, this Toyota. I bargained hard and got a pretty good deal on a pretty good vehicle. Took delivery on August 9th (Friday) and have been enjoying this vehicle since. A week later my local Toyota dealer calls me up. I was thinking they wanted to thank me for the business, how are you enjoying your new ride, etc…but NO! It was a business manager saying there was a mistake in the paperwork with U.S. Bank. They asked me to come in and sign a new lease contract, which I promptly stated I had no interest in doing. Basically, according to them, I got a 15k annual mileage contract for a 10k annual mileage price. I read this contract thoroughly before I signed it and suggested they should have done the same. I have a legal, binding contract and can’t think of a reason why I should re-sign a higher priced contract at their request. My question is: Do you all agree with that? Do they have a legal right to change the terms of the lease agreement contract? If I have to do something here, I would tell them to take their new, now used, truck back and give me back my trade in. Never had this happen before, but have heard of it. Not sure if they are trying to pull a fast one or if it was a legitimate mistake and honestly, I don’t care. Their issue, not mine. Knowledgeable thought’s and comment’s please!
The Residual might be 10K Residual on the Contract even though in the mileage spot it says 15K. US Bank won’t fund it that way. Everything needs to line up.
If you want to play hardball with them they will probably just cancel the deal and take the truck back as an unwind.
Thank you Cody. Unwind the deal is what I would do too, if necessary. Might be difficult to do. Not sure what they did with my trade in.
Trying to find your original post with all the numbers for your deal…
So you noticed that the allowed annual mileage was incorrect and said nothing?
I believe what he is saying is the contract was for 15k miles and the dealership is saying that is a mistake, it should have said 10k
Your choice is to sign a new contract with the correct residual for the mileage or unwind the deal. They will have some motivation to try to get you to keep the truck, but at some point they’ll tell you to return it and get lost. If they’ve sold your trade, they’ll give you the money agreed to as trade.
Why u no keep Taco? 
If the lease deal/terms are what you agreed to (that payment at 10k) and were happy, what’s the issue resigning? Maybe push for a little something to come resign (first 3 oil changes? An accessory you want?) but don’t punish poor .
Then do it. The bank won’t fund the contract without the numbers being correct. Drop the car off and hand them the keys.
This was an honest mistake and it happens all the time.
And OP would be without a car until he gets a new one. It’s not his mistake . That would suck.
It’s not his mistake, you’re right. But the dealer will only do so much. They don’t want to unwind the deal, believe me. @Cody_Carter would tell you the same as well as any dealer here. But there is only so much of a hit that they’ll take.
100% the dealer doesn’t want to take them back but if its a $1000 mistake on top of whatever bad deal it already was it could be over their CAP.
I understand exactly what he said.
He said that he read the contract very carefully (which means he saw the 15k allotment?) and suggested that the dealer should have done the same (which means haha f you?)
If the contract mistakenly had 15k miles and OP noticed it but said nothing, OP essentially tried to get one over on the dealer via contract error in his favor. But the contract will not be funded like this. Imagine how OP would feel if the opposite situation had occurred and the dealer was refusing to fix it.
@hm12460 If you had already negotiated the deal and then your contract said 15k instead of 10k for the allowed miles then you would know that there was a mistake. Just sign a new contract with the numbers that you agreed to in the first place.
Ask yourself: what would the dealer do if the situation was reversed? Think about that and go forth!
What I am saying is OP may not have wanted to trade in his car if it was not tied to this deal. He could have sold it private and get more than the trade in at a time of his choice . This is a typical example where the dealer should offer some type of a goodwill compensation due to the inconvenience and potential loss ( e.g. check for the difference between trade in vs. private party value of his old car ) to make it right.
I figured OP wanted the 15k miles and signed the contract as such. If he only wanted 10k miles then yes OP is in the wrong.
Assuming they could get the deal funded, it’s ballpark an 1,800$ mistake ($50/mo * 36). If he forces an unwind he gets a check for the car (possibly less the mileage he put on Taco) and has to go shopping again.
I doubt cash is in play, but something the dealer has to offer (as I suggested before: oil changes/service or accessories) is worth asking for. Unless I hated the Tacoma and wanted something else, I’d just ask for a little something to resign.
Thank you all for your comments. To be clear, I stated from the start I needed 15k annually. They knew that. My contract says that. There was no mistake on my part. I was not trying to screw them over, but instead, was dealing to get my best price like anyone would do. They agreed, and we signed papers. My contract states 15k per year, as I negotiated. Mr. business manager called me a week later stating there was a mistake, and the monthly payment was for 10k, not 15k as stated on my contract. That was when I told him I read the contract carefully, and he should have done the same.
Tell them to take the car back. They will lose much more money doing this. Likely they will figure out a way to amend the contract and get you what you agreed on rather than take the truck back