I realize this might not be the most elegant solution, but this is what I did. I used an old magnetic cabinet catch that I had, screwed into the coin tray inside the arm rest, screwed the metal catch plate on the inside of the upper part of the arm rest, and it has been working fine since then. At least it looks better than the rubber bands that I had been using and that would subsequently fail after a few days. Now I can take my time finding replacement arm rest. Below are the photos of the project. Note: I took the entire arm rest off and played with it at my kitchen table, but I believe anyone can do this without having to remove the armrest.
I used this particular magnetic catch because I had it lying around in the garage. I'm sure there are better ones out there that would work better in this application. This particular one has adjustment wings which didn't allow it to lay flat in the coin tray.
Magnetic catch screwed into coin tray
View attachment 13146
Metal plate screwed to the inside top of the arm rest at the appropriate location for the magnet to catch it
View attachment 13147
Result (Note: it shows a bit of gap in the how it's closed; I tweaked the magnetic catch to where there is no gap now)
View attachment 13148
I used this particular magnetic catch because I had it lying around in the garage. I'm sure there are better ones out there that would work better in this application. This particular one has adjustment wings which didn't allow it to lay flat in the coin tray.
Magnetic catch screwed into coin tray
View attachment 13146
Metal plate screwed to the inside top of the arm rest at the appropriate location for the magnet to catch it
View attachment 13147
Result (Note: it shows a bit of gap in the how it's closed; I tweaked the magnetic catch to where there is no gap now)
View attachment 13148
