Toyota Lease Extension Residual Error

First time poster, long time lurker, with a lease extension question.

Paperwork Version #1: My 3-yr Toyota Rav4 lease matured in August and we decided to extend it month-to-month (6 mos). I executed the paperwork and faxed it back to Toyota.

Apparently, Toyota never received what I had sent them.

Paperwork Version #2: So, Toyota sends me new paperwork in October, which I executed and mailed back promptly. Except Toyota now tells me that they made an error with this paperwork – the residual value was mistakenly ~$2,000 less than it was in the prior paperwork.

Paperwork Version #3: Toyota now sends me new paperwork with an updated residual amount that matches to what it was on paperwork #1. They want me to execute this new paperwork and sent it back to them. Unless I do this, they say they won’t process the lease extension. (Keep in mind, I’ve still been paying the monthly lease each month!)

Since I’ve already executed Paperwork #2, what’s my incentive to sign new paperwork? It clearly states at the bottom, "Upon receipt of a completely filled-in original or facsimile of this Lease Extension, fully executed by Lessee, Toyota Lease Trust accepts this Lease Extension Agreement."

The paperwork is executed – it’s done. As stated in the paperwork, they should accept it. Am I missing something?

Are you actually going to buy the car at lease end?

It’s their car, if they want to change the terms on an extension I don’t think you can do much. You could hire a lawyer and waste a bunch of money going after Toyota. Turn the car in now or agree to their terms, I think if you want to fight them on it, they’ll just say “NO LEASE EXTENSION FOR YOU”

Doing the right thing and feeling good about being an honorable man. You might save the employee who made the error from getting fired. Etc

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How was V3 sent to you? …USPS First Class?

That’s a fair point. I hadn’t thought about that aspect. Thanks.

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Paperwork #3 was sent via email link – downloadable through the TFS website.

That’s kind of extreme, to think someone will get fired for a small error. I can’t tell you the number of times I’ve seen people do things that ultimately cost the company money without being fired.