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 Post subject: Lease Paperwork Issues with Unlimited Miles
PostPosted: Thu Oct 03, 2013 6:01 am 
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Joined: Sat Aug 24, 2013 6:04 am
Posts: 6
Having issues with my lease...

I negotiated an unlimited mile lease and took my vehicle home on 8/25. I received a letter from Toyota Financial informing me that there was an error on my lease agreement, specifically item #10 and that my lease was for 15,000 miles per year with a .15 cent per mile overage.

I should have known that this would be an issue...when I signed my lease paperwork the finance guy did not know how to input a lease with unlimited miles into his system. I should have known then this would be an issue and left but I didn't...I had him cross out the 15,000 write in UNLIMITED and cross out the .15 cent mileage overage item. I also had him initial both changes and I initialed as well. Apparently that was not enough! My copies of the paperwork note all these changes.

I am worried I am now stuck with a 15,000 mile lease and this will not work for me. I have contacted the dealer, spoken to Toyota FInancial and Toyota Customer service but all seem slow to do anything. What recourse do I have?


Last edited by MonroviaRav4EV on Thu Oct 03, 2013 6:26 am, edited 1 time in total.

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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 6:09 am 
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Joined: Wed Aug 07, 2013 1:57 am
Posts: 21
Well is your lease rate for the 15000K or the unlimited?

If I recall, the difference was about $30 a month or maybe less since that may have been with 12000K.

If you are getting it for the 15K rate, then it does seem the dealer can't just cross it out (or maybe they can, but the dealership needs to make up the difference).. so, anyway, if this is true, then maybe you can work out a deal with Toyota for them to lease you at the rate of the "unlimited"... the pricing is in threads all over this forum, not hard to find.

Sounds like a dealer error in not knowing how to enter the unlimited mileage pricing. Clearly Toyota offers such a program, so should be able to rectify. Or maybe the dealership should pay for the overage at the end of the lease, and figure out a way to charge you for the higher unlimited mileage lease rate during the lease.

Good luck.


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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 6:19 am 
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Joined: Thu Jan 17, 2013 11:13 pm
Posts: 1839
Location: Los Altos, CA
Do any of the parameters of the lease match what they should be for unlimited miles? For example, there is a different residual for unlimited. If the figures are right, but flagged wrong in TFS's system then it should be easy to fix. If it was completely calculated at 15,000 mi/yr and only the to items were manually crossed out you will probably have a much harder time with it. I would do some homework and then go meet the finance guy face to face and get the general manager involved if you have to. Trying to get it done on the phone is probably not going to get you anywhere.

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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 6:23 am 
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Joined: Sat Aug 24, 2013 6:04 am
Posts: 6
These were my lease terms below. I went with the $0 downpayment option for 455.53.

In terms of wear and tear you would only be responsible for tires, wipers and non-hybrid batter. The numbers below assume $3,999 down - if $0 down your payment would be $455.53

Selling price (as agreed) $47,525.00, Doc fee $80,
Acquisition Fee $650.00
Registration $399.
Gross Cap cost $48,175
Customer Cash $3,999 (if you chose)
Rebate $15,400 -
Total Cap reduction $17,003.51 -
Net Cap Cost $31,171.49.
MSRP $50,870.00
Residual $19,920.
Money Factor .00001
Base Payment $313.05
Monthly Tax $28.17
Payment $341.22


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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 7:12 am 
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Joined: Mon Sep 02, 2013 6:47 pm
Posts: 144
Location: Los Angeles, CA
MonroviaRav4EV wrote:
Having issues with my lease...

I negotiated an unlimited mile lease and took my vehicle home on 8/25. I received a letter from Toyota Financial informing me that there was an error on my lease agreement, specifically item #10 and that my lease was for 15,000 miles per year with a .15 cent per mile overage.

I should have known that this would be an issue...when I signed my lease paperwork the finance guy did not know how to input a lease with unlimited miles into his system. I should have known then this would be an issue and left but I didn't...I had him cross out the 15,000 write in UNLIMITED and cross out the .15 cent mileage overage item. I also had him initial both changes and I initialed as well. Apparently that was not enough! My copies of the paperwork note all these changes.

I am worried I am now stuck with a 15,000 mile lease and this will not work for me. I have contacted the dealer, spoken to Toyota FInancial and Toyota Customer service but all seem slow to do anything. What recourse do I have?



i did my lease 08/28 and the finance guy doesn't know how to input unlimited miles as well.
He basically did everything that you guys did. crossing a 45,000/yr and writing unlimited plus having us initial the correction.
HE showed me a memo from Toyota which indicates the unlimited miles program.

He said, he's going to send us another paperwork if this doesn't go through.
So far, i made the payment for the 2nd month and i haven't receive any letter. So i believe the "unlimited" miles went through.

Call your finance person and straighten this out

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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 7:38 am 
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Joined: Fri Aug 30, 2013 6:23 am
Posts: 106
$47,525 selling price is probably the lowest anyone has gotten on this board. If you had a $0 down $455.53 unlimited miles out the door you got a fantastic deal. I actually tried to use your figure as a comparable at the local dealer and they basically laughed at me. The dealer is most likely selling below cost, especially after you factor in the unlimited miles that you will put on it. One possibility is they reviewed it and are trying to recoup their costs after a deal gone bad. If its in the contract though you have a right to it.


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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 2:37 pm 
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Joined: Sat Sep 21, 2013 3:44 pm
Posts: 278
Location: SF Bay Area
rav4buyer wrote:
$47,525 selling price is probably the lowest anyone has gotten on this board. If you had a $0 down $455.53 unlimited miles out the door you got a fantastic deal. I actually tried to use your figure as a comparable at the local dealer and they basically laughed at me. The dealer is most likely selling below cost, especially after you factor in the unlimited miles that you will put on it. One possibility is they reviewed it and are trying to recoup their costs after a deal gone bad. If its in the contract though you have a right to it.



Many paying below $445 out the door inc tax. On purchases I have seen $1-4K off MSRP deals.

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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 4:41 pm 
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Joined: Fri Aug 30, 2013 6:23 am
Posts: 106
If anyone got $455 out the door unlimited miles no money down, you got a fantastic deal. Like I said, my local dealer would have none of it, but kudos if you got it.


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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 6:58 pm 
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Joined: Wed Sep 11, 2013 10:49 pm
Posts: 1
I received the same letter from Toyota financial yesterday. :evil: They changed my lease from unlimited miles to 3/36000. I called Toyota financial and they indicated that there is no such thing as a unlimited miles lease. I begged to differ with the rep. I have an appointment soon with them and will follow up with the results (issue was escalated). I emailed the letter to my salesperson and asked him to follow up with Toyota Financial.

Seems that they are not familiar with how to fill out the lease with unlimited miles. At the time of signing - My excess mileage section was left blank - I checked with the salesperson who indicated this is how they do unlimited miles leases. he did indicate it is not common.

I feel I should be OK, we shall see. However, it is very frustrating to have this sort of issue. Makes me lose trust in Toyota.


Last edited by JohnConnor on Fri Oct 04, 2013 10:26 pm, edited 1 time in total.

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 Post subject: Re: Lease Issues
PostPosted: Thu Oct 03, 2013 7:50 pm 
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Joined: Thu Aug 08, 2013 12:02 am
Posts: 95
I had the same issue when I was doing my lease. It shows on my paperwork that it's 15k miles and .15c after. I asked about that and the finance manager said that there was no way to input it in the system. He did the same thing and crossed it out and initialed/signed under it writing unlimited miles. On another sheet of paper, he noted that it was unlimited miles. I don't have that paper in front of me, but it's the paper they give you stating what the car is delivered with.

Is there any member here that has "Unlimited Miles" noted on their lease form? I wonder if Diana could chime in since she has been leasing these left and right.


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