Consumer complaint received 2026-01-13 00:00:00
Product: Vehicle loan or lease — Lease
Issue: Problems at the end of the loan or lease — Unable to receive car title or other problem after the loan is paid off
Company: TOYOTA MOTOR CREDIT CORPORATION
State: FL

Complaint narrative:
My daughter and I leased a XXXX XXXX XXXX XXXX from XXXX XXXX in XXXX ( she makes the payments and drives the car, I was a co-signor to the lease ). My daughter traded in that XXXX XXXX XXXX XXXX on XXXX XXXX, XXXX at XXXX XXXX. Her next payment for the XXXX XXXX was not due to Mazda Financial until XXXX XXXX, XXXX. 

When XXXX had not yet paid off the vehicle with Mazda Financial by XXXX XXXX, XXXX, rather than have her credit report reflect a late payment impacting her credit rating, she allowed Mazda Financial to electronically withdraw the funds from her checking account on XXXX XXXX, XXXX with the understanding that once XXXX paid off the vehicle with Mazda Financial, Mazda Financial would repay or refund her that credit balance of the XXXX month 's payment ( {$240.00} ). 

XXXX XXXX made the payment to Mazda Financial on or about XXXX XXXX, XXXX. Unfortunately, that payment was after the " good through '' date given by Mazda Financial ( which is a whole other issue ). As such, the payment amount sent by XXXX was short {$91.00}. 

Mazda Financial indicated they would only refund or repay my daughter {$150.00} until they received the correct amount from XXXX, at which time they would refund or repay the remaining {$91.00}. 

Rather than refund or repay my daughter the account credit balance for the payment she made ( that she shouldn't have had to make ) utilizing the same manner in which they collected the payment ( via. direct deposit into her checking account ), they attempted to mail the check, and did so not to her updated address ( when my daughter moved to a new apartment back in XXXX, she changed her address with Mazda Financial ), but instead to an old address. As such, my daughter never received the check. 

When the check was returned to Mazda Financial, they stopped payment on it. When my daughter spoke with Mazda Financial today, they indicated they would have to issue a new check and it would again be sent by mail, this time to the correct address. 

When I spoke with Mazda Financial today, I asked why they won't simply deposit the funds directly into her checking account. They said they couldn't do so. I then asked to speak with a supervisor. When I asked XXXX, a supervisor at Mazda Financial ( ID # XXXX ) if they would be issuing the check today and overnighting it to her, she said they couldn't do that either. When I mentioned that 12 CFR 1026.11 requires them to refund the remaining credit balance within seven business days, and that it has been more than seven business days, she said they couldn't issue a check today as it takes time to process new checks and that once processed, they would again mail it to her, rather than overnight the check to her. This means that she will probably have to wait at least another 10 - 14 days before she receives a check ( remember, the overpayment occurred on XXXX XXXX, XXXX ). 

This is not right.

Company response to consumer: Closed with explanation