Product: Vehicle loan or lease

Complaint to the Consumer Financial Protection Bureau ( CFPB ) From : XXXX XXXX Address : XXXX XXXX XXXX XXXX XXXX, XXXX, Zip : XXXX, CA. XXXX Email : XXXX Date : XX/XX/2024 Consumer Financial Protection Bureau XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX  Subject : Formal Complaint Against Toyota Motor Credit Corporation, D/B/A Toyota Financial Services Regarding Violations of Truth in Lending and Deceptive Sales Practices Dear Regulators, XXXX XXXX XXXX, founder of XXXX XXXX XXXX XXXX , is writing to lodge a formal complaint on behalf of XXXX XXXX against Toyota Motor Credit Corporation , doing business as Toyota Financial Services, concerning serious discrepancies and unethical practices evident in a vehicle financing agreement initiated from your institution, XXXX and no other information dated XX/XX/2024. 
Upon reviewing the signed contract for purchasing a vehicle with a seemingly favorable annual percentage rate ( A.P.R. ) of 4.75 %, I discovered multiple unethical and illegal discrepancies. 
These include undisclosed fees and a significant disparity in the stated cash price versus the financed Amount, which violates existing consumer protection laws. 
Contact Details : Contract Date : XX/XX/2024 Vehicle : Please see the attached contract Cash Price : {$39000.00} Financed Amount : {$60000.00} Monthly Payment : {$830.00} over XXXX  months Violations Noted : 1. Excessive A.P.R. Concealment : The actual effective A.P.R. appears to be 33.5 % instead of the 4.75 % initially disclosed. This discrepancy raises severe concerns about the transparency of your pricing structure.

2. Undisclosed Fees and Packing : Upon a detailed review, particularly noted on page XXXX of the contract, various hidden fees totaling {$13000.00} have been added without my explicit knowledge or consent, which significantly inflates the cost from the original cash price to the total financed Amount.

3. Non-Compliance with CFPA Regulations : The practices observed in this contract appear to contravene Sections 1031 and 1036 of the Consumer Financial Protection Act ( 12 U.S.C. 5531 and 5536 ), specifically regarding the lack of transparency and informed consent about add-on products and associated fees.

The nature of these findings suggests a deliberate attempt by Toyota Financial Services to obfuscate the true cost of financing and the terms of the agreement, which I believe is a clear violation of order XXXX, which mandates transparency and informed consent for add-on products. 
Request for Action : Regulators a comprehensive review of this contract and the practices of Toyota Financial Services concerning their compliance with federal regulations. The review should include : A detailed examination of the undisclosed fees and the calculated A.P.R.

Implement corrective measures as stipulated under XXXX concerning sales and financing practices. 
Requesting re-evaluation of the contract terms prior to the first Payment, due XX/XX/2024, to ensure they reflect fair and legal lending practices. 
Please treat this matter urgently, as it affects the client 's financial stability and potentially impacts other consumers subject to similar deceptive practices. 

Thank you for your immediate attention to this serious matter. I look forward to your prompt response and action. 
Sincerely, Advocate of XXXX XXXX XXXX XXXX XXXX, founder of XXXX XXXX XXXXXXXX XXXX.