Thank all for for the responses, really appreciated! I was away for the past day which is why I couldn't update this post - no Hit and Run here
the issue seems to be with the type of program (post-doc 4 year residency) that we were given to believe will qualify for the rebate. Its a matter of clarifying with TFS whether or not it does. I don't suspect anything malicious on behalf of the dealership, just a clarification of whether that qualifies for the college rebate program.
I updated the original post with these details as well - some clarifications below:
- The new vehicle is a lease, not a purchase, so I don't have the title. We actually don't even have our plates yet given it was only 16 days ago.
- the "diploma" in question is my wife's 4 year post-doc residency program (from an accredited university). The dealer financing guy mentioned that TFS (or Toyota/Lexus) declined it because it is not a standard diploma program. Their initial view was this should be acceptable, similar to nursing programs specifically mentioned in the rebate fine print. Apparently, not so. I expect to try to call and understand the issue on Monday
- i haven't had a chance to inspect the lease contract (been away the past 24 hours) to read the contingency language and see my options. Will update post once I have that detail
- i don't anticipate having to unwind the deal / hopefully this can be resolved in other ways. We paid $0 cap cost down for the lease, just the min drive off (first month, registration & licensing, acquisition fee) + multiple security deposits (fully refundable at lease-end).
- the finance guy sounded really concerned when they called me on Thursday, (simultaneous call, email and text) asking me "when we could come back into sign the revised contract", stressing that all he had to change was the rebate amount, and that selling price and terms would not change. I had said then that i would talk to TFS directly - I plan to follow up on Monday and will update here.