Vehicle loan or lease -- Getting a loan or lease -- Complaint #6388434
Complaint Overview
Complaint ID: 6388434
Company: Toyota Motor Credit Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Changes in terms mid-deal or after closing
State: Virginia
ZIP Code: 22304
Date Received: 2023-01-02T12:00:00-05:00
Date Sent to Company: 2023-01-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I recently purchased a new XXXX from XXXX XXXX Toyota on XX/XX/XXXX and received financing through XXXX XXXX and was set to begin my payments from XX/XX/XXXX. I received a mail dated XX/XX/XXXX from the car dealership that the financing did not go through with no reasons specified nor a statement from the bank. I don't see how this is possible as I was approved at the time of purchase and have been using my car for the last XXXXXXXX XXXX I must also mention that I received no intimation from the bank ( XXXX XXXX in this case ) regarding the same. Is this not a breach of contract? Also, how could they allow me to leave with a vehicle if my financing had not come through. I did put down {$2000.00} on the day of purchase and I'm now concerned that I may have to lose the vehicle and my money on the basis that I have used the car for these many days. I don't see any grounds on which this can be done. The same thing happened with my roommate at a different XXXX dealership and they lost XXXX their down payment and the car so I do believe there is a fraudulent nature to this activity.
Frequently Asked Questions
What is Complaint #6388434 about?
Complaint #6388434 was filed against Toyota Motor Credit Corporation regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2023-01-02T12:00:00-05:00.
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.