Consumer complaint received 2024-10-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Company explaining amount owed
Company: TOYOTA MOTOR CREDIT CORPORATION
State: LA

Complaint narrative:
THIS IS MY 2nd COMPLAINT for the same matter, because TOYOTA REFUSES TO DO ANYTHING TO HELP this customer who has already paid them thousands & thousands of dollars in interest!!

I had a 72 month contract at {$590.00} a month. I paid all 72 payments. Now Toyota says I owe them {$11000.00}!!! I made some extensions during the contract but not since XX/XX/XXXX. I was NEVER told how the extensions would impact the final balance. Toyota claims they sent a letter to me in XX/XX/year> that stated what the estimated balance at the end of the contract would be. 
I never received that letter. It was NOT sent certified mail and our town had just been hit by hurricane Ida and mail service wasn't delivering for weeks. That was the ONLY letter that was sent with an estimated balance figure. I never received it so how was I to know there would be a balance calculated from the extensions? I had no way of knowing and Toyota never followed up on the letter nor was I ever told about the balance. If I would have received it I would have called and asked for details at that time, but I NEVER RECEIVED IT!! Toyota reps did NOT explain any details of the extensions and how they could adversely affect me. I was simply told it was a deferment and would extend my maturity date. Nothing more. 
They also claim they sent me extension confirmations by mail. Again, not certified. I did receive a few, but not all. And it does NOT show any added charges that I may have to pay. Confirmations only showed the new payment due dates.

For 3 years I was not aware that my payments were going straight to interest and very little to principal. I inquired many many times asking why my principal is not going down. I could never get a straight answer. None of the customer service reps could tell me any details. I did not find out until last week, XX/XX/XXXX, when I received Toyota 's reply to the Attorney Generals Office, from the complaint I filed with them. Only then did I learn that in 72 payments I paid {$28000.00} in interest and only {$15000.00} to principal, on a {$26000.00} loan!!!

I asked for that payment history multiple times prior to this and they would never send it!! The only breakdown I received was a payment history with no balances, or how much interest and principal paid. It showed nothing other than payments made, It took complaining to the Attorney General to get this information. 
Also, I requested to speak to a manager many times. Only once, a manager called me back and I missed the call. No message left, no attempt to call me back again. Only way I knew a manager called was when I spoke to Customer Service and their computer notes showed it. But Toyota made NO effort to call back! 
I received a call from XXXX, in Toyota 's executive office. She was no help and offered NO solution and NO assistance at all!! I explained my grievances and asked for her assistance and I was told NO. Says there's nothing she can do and what I owe is what I owe. You mean the Executive Office has no say so?? They just dont want to do anything!!

And Toyota will NOT let me make payments. They want it ALL in ONE LUMP SUM! She told me to go to a bank or talk to my brother ( A GM at a Toyota dealership ) and see about getting a loan. NOBODY is going to loan me {$11000.00} on a car thats worth {$4000.00}, and Toyota knows that!!!.

I received a certified letter a few weeks ago stating I was in default and could be repossessed. Since then I have called multiple times, have made much effort and Toyota REFUSES TO HELP!!!

I paid back {$44000.00} on a {$26000.00} loan, 72 payments, and Toyota is going to repossess my car??? 
The worse part is, THEY WILL NOT WORK WITH ME at all!! 
XXXX XXXX XXXX XXXX, live alone and I can not be without my car. I paid over 100 % interest to them and that ISNT ENOUGH?? 
Summary : {$26000.00} loan. Paid back {$28000.00} in interest thus far. And threatening repossession? If this isn't UNFAIR business practices I don't know what you would call it!! It is so unfair to the consumer for this company to be threatening repossession and refusing to work with the customer that has already paid them over 100 % in interest!!!

Another thing : In the packet Toyota sent to the Attorney Generals office it has a copy of the original contract, which has some pages that are NOT in my contract!!

And after making {$1000.00} in payments 2 weeks ago my new Toyota statement ( XX/XX/XXXX ) is still showing I paid only 71 payments. Has shown this for the last few statements. This is wrong!! 

See attachment and how much interest I have paid. Over 100 % ...!!!

Company response to consumer: Closed with explanation