Payoff Amount = (32461.32 + 399.00) x 1.0635 + fees/other taxes per paragraph 41.
= 34946.95 + fees/other taxes
How Toyota got 38448.32 seems like a real stretch to me unless you missed payments. You may want to request a detailed itemized payoff statement b/c there is definitely something wrong. Also, only base payments are used when making payoff calculations.
Thanks I appreciate that. Excuse me if this is a dumb question, but as someone below said, is it possible they are trying to overcharge me $3k somehow?
Also it seems like the dealer killed me on the backend , no?
I doubt it. It’s likely a mistake or it could be that other taxes are much higher. My amortization schedule assumes you made all payments on time. Is that correct?
No. If you’re referring to the 399 PO fee, that’s not uncommon.
You didn’t post the itemization of the gross cap. The difference between the gross cap and agreed upon value (sell price) is the amount that is capitalized in the lease. This amounts to 1403. Deducting the 650 acq fee leaves 753 that I can’t account for. The MF = .00317 may have been marked up. It looks like you received 1800 off MSRP (4.6% discount). I think you could have done much better. So, I think it’s a front-end problem, not a back-end problem.
Dealer payoff should be 33k though? My lease payoff is messed up including property tax or something so I’ll get the breakdown tomorrow, never again will I lease a Toyota from setf
But it doesn’t make sense how could they mark up a payoff that much? It borders on illegal. The gentleman above who provided those breakdowns pretty much summarized my thinking that dealer payoff should be 32-33
I live in CT I bought from them because they were discounting when nobody else would for a GRC . My mistake, because I don’t even care for the car. Would have been better off with a type R or Si.
