Consumer complaint received 2025-04-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Account reinstatement or redemption after repossession
Company: TOYOTA MOTOR CREDIT CORPORATION
State: WI

Complaint narrative:
Illegal Repossession After Valid Rescission of Contract TILA Violations & Fraud Account No. : XXXX VIN : XXXX ( XXXX XXXX XXXX XXXX ) Toyota Motor Credit Corporation XXXX XXXX Toyota of XXXX I am filing this complaint due to a serious violation of my rights under the Truth in Lending Act ( TILA ), specifically under 12 CFR 1026.23 ( a ) ( 2 ), ( d ), ( d ) ( 2 ), along with 15 U.S.C. 1635 ( b ) and 1640, involving Toyota Motor Credit Corporation ( TMCC ) and XXXX XXXXoyota of XXXX XXXX XXXX XXXX XXXX XXXX. 

On XX/XX/XXXX, I entered into a retail installment agreement with Precision Toyota of XXXX for a XXXX XXXX XXXX XXXX, VIN # XXXX. Upon reviewing the transaction, I exercised my Right of Rescission, as is clearly afforded to me under TILA, by issuing formal Notice of Right to Rescind the Contract, sent via Certified Mail # XXXX, with Return Receipt # XXXX, delivered as confirmed by USPS. 

Despite this lawful rescission, the vehicle was illegally repossessed without notice on XX/XX/XXXX, a full year after I exercised my right of rescission and after the 20-day compliance period had lapsed. The creditor failed to : Return of the vehicle Terminate the security interest Remove tracking devices installed in the vehicle Provide a 1099-C for discharge Honor the rescission in any form Instead, they tracked me via GPS without consent, dishonored the negotiable instrument I submitted to discharge the account, and unlawfully seized the property in violation of both contract law and federal consumer protections. 

They never provided any material disclosures, including proper instruction or acknowledgment of the right to rescind which is required under 12 CFR 1026.23 ( b ) nor was I provided a complete copy of the signed agreement with the rescission clause.

Under 1026.23 ( d ) ( 1 ), the creditor was required to return any money or property within 20 days of my rescission and take action to release the lien. They failed to do so.

Under 1026.23 ( d ) ( 2 ), I was under no obligation to tender the vehicle until after they fulfilled their duties to return property and release the security interest but instead, they bypassed this completely and unlawfully repossessed the vehicle. 

This was my primary means of transportation and income, and I suffered financially, mentally, and emotionally because of this unlawful act. I relied on that vehicle for survival, and their actions disrupted every aspect of my livelihood. I am seeking $ XXXX in compensatory and punitive damages for : Fraudulent inducement and concealment Deceptive business practices Willful violations of TILA 1635 and Regulation Z 1026.23 Invasion of privacy ( tracking without consent ) Wrongful repossession Dishonor of lawful negotiable instrument for discharge Despite sending multiple follow-up notices, including an Affidavit of Non-Response and Default, with tracking and notarization, these companies ignored all lawful process and took property that, under law, was no longer theirs to claim. 

I also previously filed suit, which I lost due to lack of understanding of these rights. But this complaint now presents clear violations of federal law and my protected rights as a consumer. 

I respectfully demand a full investigation, enforcement action, removal of any credit blemish related to this unlawful account, and full compensatory remedy for the harm and hardship Ive suffered.

Company response to consumer: Closed with explanation