FI manager could just be clueless and doesnt know how to run a US bank lease. Like you said Residual is out of whack and they are also not applying the $2500 cash rebate
He did the same thing on the original TFS worksheet
I would just setup the numbers the way they should be, send it over to them and say youâll do that deal, thatâs if they can ever figure it out. Otherwise plan a trip to PA
Yes itâs on the original sheet also. But the original TFS sheet was calculating Residual correctly with the MSRP.
Good eye! I missed that!
I would do what Joe said. Get them to agree with the numbers. Sales price, .0013 MF, $2500 rebate, and make sure they dont tack on any dealer add ons and the payment should come out correct come Contract time. You may have to walk the Finance guy through the correct steps. US bank wont accept a contract thatâs not correct.
Reach out to some other Toyota dealers with your offer
Responded to dealer, with my spreadsheet and pointing out the different residuals.
His response:
Kevin,
The numbers are correct. US Banksâ residual is 79% of the Base MSRP or the MRM whichever is lower. Toyotaâs is 77% of MSRP.
Rather than trying to figure out how all these numbers work, we invested in a very powerful tool years ago that takes all the guesswork out of it. It keeps things simple and easy, which is why I was confident that the Toyota lease was better from the get-go. In an effort to show you that weâre humbly transparent, Iâve been trying to show you all the options so you would feel comfortable doing business here. I hope that is the case. Let me know what else I can do for you before coming in.
If itâs going nowhere with this dealer reach out to other dealers.
In an effort to be transparent they have been everything but. Sometimes its easier to tell them to come down to a number your comfortable with, I know with LH people will jump all over me for saying this but how the dealer makes money on the back end doesnât matter if the payment is where you wanna be. If you want to stick with this dealer tell them your terms, I want to pay xxx.xx/mo for x amount of months, and whatever you want to put down. 48K MSRP Tundra is 350/mo with zero due @ signing all day, give them one more shot and then move on.
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Agreed. Just sharing the experience for the sake of other first timers.
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Sooooo⌠7 weeks later I finally signed the US bank paperwork through another dealer. First usbank for them too, and it took forever, but its done, Iâm happy. Left some money on the table, but the 3k rebate makes it a fair deal.
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