Consumer complaint received 2018-12-29
Company: TOYOTA MOTOR CREDIT CORPORATION
State: AZ
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Problem with a trade-in

Complaint:
On XX/XX/XXXX, My wife and I purchased two XXXX XXXX XXXX. My vehicle had no negative equity but my wife 's vehicle had about {$9000.00} in negative equity because of her XXXX XXXX XXXX trade-in. On XX/XX/XXXX, my wife went to see our previous sales person, XXXX XXXX, regarding possible repairs on her XXXX XXXX XXXX rim and to also look into a XXXX XXXX XXXX, since she was considering a possible upgrade if financially feasible. 

Although, I was opposed to the this upgrade and refused to sign off on this sale as the primary purchaser ( knowing my wife had about a {$9000.00} negative equity on her XXXX XXXX and the deal would not be financially feasible ), XXXX XXXX ensured my wife that an upgrade to the XXXX XXXX XXXX would be barely any difference from her current financing of the XXXX XXXX XXXX and that she could go on this deal alone with little change in her monthly payments. 

So XXXX XXXX did the numbers for the XXXX XXXX sale with incorrect information for the trade in. XXXX XXXX did the numbers with information for my XXXX XXXX with no equity, instead of my wife 's XXXX XXXX with about {$9000.00} negative equity because he was eager to complete the sales and swindle my wife. My wife 's XXXX XXXX, because I was a primary on the vehicle, had a XXXX APR with {$1000.00} and something in interest and total cost with negative equity from trade-in was total sales price of {$31000.00}. The sales of the XXXX XXXX with just my wife 's credit was 7.5 % APR with {$8100.00} in interest for 75 months with a car sales price of {$30000.00} and a total sales price of {$40000.00}. How are these deals not much different? 

I spoke with XXXX from Toyota Financial Services today and he confirmed that my wife and I were lied to while XXXX XXXX was trying to cover up their fraudulence, XXXX XXXX and XXXX XXXX reported that the documents were erroneously swapped to show that my wife 's XXXX XXXX was solely on my credit and my vehicle was on both of our credits. XXXX XXXX said multiple times that I should come in and exchange cars with my wife 's trade in to fix the initial financing paperwork error XXXX XXXX made, meanwhile, he was trying to get me stuck with the car with {$9000.00} negative equity so he could complete the sketchy sales of the XXXX XXXX to my wife. 

XXXX XXXX has requested that my wife and I come to the dealership several times to resolve the issues and sign the correct paperwork to no avail of resolution that did not involve my wife and I getting swindled and me switching my car with no negative equity, for her car with {$9000.00} negative equity. I went to the dealership to sign off on the trade-in for my wife 's XXXX XXXX late XX/XX/XXXX because XXXX XXXX pressured me to do because it had to be done by the end of the month. 

After this, my wife and I have been pressured by XXXX XXXX, XXXX XXXX and XXXX XXXX ( XXXX XXXX ) to switch my XXXX XXXX with my wife 's traded-in XXXX XXXX, pay {$5000.00} cash outside of the contract balance out some of the negative equity or to unwind the more recent XXXX XXXX purchase and XXXX XXXX trade in, with my wife returning the XXXX XXXX and taking her trade-in XXXX XXXX back. These proposed resolutions by XXXX XXXX mostly involved a significant inconvenience to my wife and I. 

XXXX XXXX threatened me, stating that things will be bad for me if I attempted to find resolution through the Attorney General 's office because he knows people there and they would not respond in my favor. XXXX XXXX also has called my wife to continually threaten me, if I report the dealership to the Attorney General 's office. XXXX XXXX requested a secret meeting with just my wife to " resolve '' all the paperwork issues that he caused and fabricated. I have since requested through the Toyota Customer Experience hotline, that XXXX XXXX never contact my wife and I again with further attempts to threaten and intimidate us from exposing XXXX    XXXX 's fraudulent activities.

Company response to consumer: Closed with explanation