Consumer complaint received 2026-01-19 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: TOYOTA MOTOR CREDIT CORPORATION
State: NV

Complaint narrative:
This complaint is a follow-up and supplement to the CFPB complaint # XXXX which is currently under review. 
Auto Loan Account XXXX To Whom It May Concern, I am writing to formally request principal reallocation and re-amortization of my auto loan with Toyota Financial Services for a XXXX XXXX XXXX, purchased on XX/XX/XXXX, in XXXX XXXX, Nevada. 

This request is made due to material concerns regarding the structure of the loan at origination, including the financing of add-on products, front-loaded interest, and the resulting negative equity and unaffordability despite substantial payments already made. 

Loan Background Vehicle : XXXX XXXX XXXX Purchase Date : XX/XX/XXXX Amount Financed : {$32000.00} APR : 9.33 % Term : 71 months Payments Made to Date : Approximately {$16000.00} Current Balance : Approximately {$24000.00} At origination, multiple add-on products were financed into the loan, including a service contract, and GAP/debt cancellation. These add-ons materially increased the principal balance and caused interest to accrue on non-vehicle items, significantly inflating the total cost of the loan. Although certain add-ons were later refunded, those refunds did not correct the interest impact or restore equity. 

As a result, despite substantial payments, the outstanding balance remains disproportionate to the fair market value of the vehicle. 

Application Disclosure After speaking with a Toyota Financial Services Resolution Officer, I have been advised that copies of my credit application and income documentation used to approve this loan are now being sent to me. I appreciate this confirmation and will review the documents upon receipt. My request for corrective action remains pending that review. 

Formal Requests I am therefore requesting the following corrective actions : Principal Reallocation Removal of all financed add-on products and associated interest, with prior payments re-credited in a manner consistent with the vehicle-only value and fair lending principles. 

Loan Re-Amortization Recalculation of the remaining balance, interest rate, and term to reflect a fair, vehicle-only obligation consistent with ability-to-repay standards.

Written Accounting Explanation A complete accounting detailing how my payments to date have been applied to principal versus interest, including the impact of financed add-ons.

Regulatory Context This matter remains under review by the Consumer Financial Protection Bureau and the Nevada Attorney Generals Office. My intent is to resolve this matter directly and cooperatively with Toyota Financial Services through appropriate corrective action once all relevant documentation has been reviewed. 

This request is not a refusal to pay, but a request for equitable adjustment to address structural issues in the loan that have resulted in ongoing negative equity and financial hardship despite good-faith payment efforts. 

Please confirm in writing that this request has been escalated to the appropriate resolution authority and advise of next steps following my receipt and review of the credit application. 

Thank you for your attention to this matter. I look forward to your response.

Company response to consumer: Closed with explanation