Consumer complaint received 2024-02-05
Product: Vehicle loan or lease — Loan
Issue: Repossession — Notice to repossess
Company: TOYOTA MOTOR CREDIT CORPORATION (NJ)

As of XX/XX/XXXX my vehicle was repossessed from my driveway without my knowledge despite me having documentation with the financial institution that my vehicle was paid-off in full as of XX/XX/XXXX. Summary of events are detailed below. 

XX/XX/XXXX : I made payment to Toyota Financial for the pay-off quote on my vehicle. I received an email on XXXX XXXX : I received an email that no further action was needed on my part and that my pay-off payment had posted as of XX/XX/XXXX. 

XXXX XXXX : I received a phone call from someone claiming to be from Toyota Financial XXXX that I owed money on my vehicle. I thought this was fraud and disregarded it. After several follow up calls, my wife and I realized we never received the vehicle title. In XXXX, XXXX I logged into my Toyota Financial account and contacted Toyota Financial directly via their customer service line to confirm the details of my pay-off and title. They informed me my payment on XX/XX/XXXX never went through. I referenced the payoff email confirmation and requested they follow up via email to my account documenting what they were referencing so I could review the information with my bank. The representative confirmed my email and that they would send this information. 

XX/XX/XXXX : After not receiving any follow up from Toyota Financial and receiving an invoice in the mail, I made one payment on the account to keep it in good standing. 

XX/XX/XXXX : After speaking with another Toyota Financial Services representative, I documented the conversation via an email as the representative and prior representatives advised they couldn't provide documentation of our conversations to resolve an ongoing pay-off/title issue. During this call the representative advised that they need to secure the title as they initially thought it was sent to me already and now could not confirm the title 's whereabouts. Additionally, he advised a delinquent payment was reported to the credit bureau which we will now need to dispute as the delay in payment is at the fault of Toyota Financial inadequate communication. We advised the representative that our intention is to have the vehicle paid off and that we now need confirmation that Toyota Financial has the title to the vehicle before we re-submit the payment for the vehicle. The representative referenced this issue was being escalated to the title department who will be in touch with me by next week. 

I received one other call from Toyota Financial Services after this from their collections team. I once again explained the situation and asked if there was an update on the title so that we could, in good faith, make payment to Toyota Financial Services for the vehicle they should have the title for. I was advised again that this matter was being escalated to the title department and I would hear from them. 

XX/XX/XXXX : Toyota Financial Services has not provided me with confirmation of the title or any other outreach to resolve the pay-off discrepancy. My vehicle was missing from my driveway. When making a police report, the officer contacted me and alerted me that the vehicle was reported as being repossessed. Still as of this date, my online account with Toyota Financial ( which I have documented screen prints and recordings of ) indicates that my vehicle was paid off as of XX/XX/XXXX and that I have a balance of {$0.00} owed on my vehicle.