Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #4944026
Complaint Overview
Complaint ID: 4944026
Company: Toyota Motor Credit Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem with paying off the loan
State: Maryland
ZIP Code: 20746
Date Received: 2021-11-24T12:00:00-05:00
Date Sent to Company: 2021-11-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I financed a car through Toyota financial services, a bad mistake. They make you jump through hoops just to get approved. I usually go through my credit union and will do so from now on. Unfortunately I was T-boned in an intersection and my vehicle was declared a total loss on XX/XX/21 with the check being sent out that week. It is now XX/XX/21 and they STILL haven't updated their records to show that there is a total loss payoff. Yes, they still took my payment for the month it was due. They refunded me the payment for the next month but they have yet to show the car was paid off. I reached out to them 3 times about this. When I am late on my payment I am penalized with a late fee right? Toyota Financial Services should have the same burden of obligation to ensure their processes are working and not taking customers money for non existing loans!
Frequently Asked Questions
What is Complaint #4944026 about?
Complaint #4944026 was filed against Toyota Motor Credit Corporation regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2021-11-24T12:00:00-05:00.
How did Toyota Motor Credit Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Toyota Motor Credit Corporation?
Yes, visit the Toyota Motor Credit Corporation company profile at readthecomplaint.com/company/toyota-motor-credit-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.