Consumer complaint received 2017-10-15
Product: Vehicle loan or lease — Lease
Issue: Incorrect information on your report — Account status incorrect
Company: TOYOTA MOTOR CREDIT CORPORATION (TX)

I took out a three year lease with Toyota Financial Services ( " TFS '' ) in XX/XX/XXXX. The original lease expired inXX/XX/XXXXXXXX, but was extended through XX/XX/XXXX. The last payment was due on XX/XX/XXXX, per the extension documents. 

In early XX/XX/XXXX, I received a call from TFS about what I wanted to do with my vehicle at the expiration of my lease ( TFS indicates all calls are recorded for " quality assurance purposes, '' so they should have a record ). After going over the options with TFS of either to return the vehicle, purchase a new vehicle, or purchase my current vehicle, I informed TFS of my intention to purchase my vehicle, and was instructed to go to a local dealership for purchase. I asked if I could complete the purchase over the phone, and was told it was not possible. 

I went to XXXX Toyota in XXXX, TX about purchasing my vehicle on Saturday, XX/XX/XXXX. During this visit, XXXX XXXX informed me of the documents ( e.g. last two pay stubs ) I would need to complete the purchase of my vehicle. TFS had not previously told me about the needed documents ( and this was my first vehicle purchase ), or else I could have brought them during the visit. The rep told me to bring the documents and I could complete the purchase. I returned to XXXX Toyota onXX/XX/XXXX and completed the purchase ( the agreement will be included with this complaint ). TFS also financed the purchase in XX/XX/XXXX. 

About a week or two after the purchase, I received a call from TFS ( also verifiable with its records ) informing me that I was past due on my account and needed to either return or purchase my vehicle. I informed TFS that I had already signed a purchase agreement with XXXX in XXXXXX/XX/XXXX. TFS said as of the call, it was not showing in its system ( despite TFS also financing the new loan ), but that it would verify this information ( there was also a problem with obtaining my new registration/plates due to TFS having not received the verification of the purchase, and thus having not sent over the title information ). The information apparently was verified, because the calls stopped and I received my plates towards the end of XXXX ( which took longer than usual, per the XXXX rep ). 

Also in XXXX, I received a notice from my credit monitoring service that I had a delinquent mark on my reports from TFS indicating that I was 30 days late on my XXXX payment. I sent a letter to TFS informing them of the error, specifically because 1 ) I had not payment due in XX/XX/XXXXand 2 ) my purchase of the vehicle was complete in XX/XX/XXXX. TFS sent me a letter, datedXX/XX/XXXX, informing me that it reviewed the issue and determined the reporting to be correct. 

I disagree with this self-assessment by TFS. Any delay in reporting the purchase was the result of actions by TFS and/or its authorized agent, XXXX Toyota. My last payment due in XX/XX/XXXX was paid on time. I had no other payments due after that day. While I have previously been late with payments ( and have not challenged the reporting ), I made every attempt comply with the instructions provided by TFS. Throughout the process, I stayed in communication with TFS about my intention to purchase the vehicle. I acted in good faith throughout the process, and did as I was instructed regarding what documents to obtain and where to go. To then receive a negative mark on my credit report due to reporting delays between TFS and the dealership is not good faith on the part of TFS.