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!@#%ing toyota Financial!

Discussion in '2nd Gen. Tacomas (2005-2015)' started by brow, Jun 2, 2010.

  1. Jun 2, 2010 at 3:45 PM
    #1
    brow

    brow [OP] Well-Known Member

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    So I bought my truck two months ago, financed through toyota, with part of the deal being them paying off my trade in loan that I had through a different credit union. Basically I owed $6,000 and they gave me $7500 for the car. Today I get a letter in the mail from the old credit union, stating that they had just recieved a check for what I owed on the car as of 2 months ago. The problem being that since toyota didn't pay the total amount when I traded in the car, the payoff amount incresed by the amount of interest that was still accumulating. Not to mention that this also means that there was technically a month that the credit union did not recieve a payment while the loan was still under my name, potentially damaging my credit.

    So the amount I owe is insignificant, about $10, but if it wasn't for the credit union being decent people and sending me a handwritten note in the mail, I never would have known about this.

    Tomorrow I am going in and raising hell, they are definately sending my credit union another check, and better have a damn good reason for this.
     
  2. Jun 2, 2010 at 3:48 PM
    #2
    wlmuncy

    wlmuncy Well-Known Member

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    Is the credit union going to ding your credit. If so you need to show them where the car was sold to Toyota.
     
  3. Jun 2, 2010 at 3:50 PM
    #3
    BigRedToy

    BigRedToy ¯\_(ツ)_/¯

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    It is the dealerships responsibility to pay all interest and fees from the time they take ownership of the car. When I traded my last car the credit union sent me notices about being past due because they didn't pay off my car for about 3 weeks. I traded it in a few days before the payments were due. I called the dealership and they said they would cover all of those charges.
     
  4. Jun 2, 2010 at 4:05 PM
    #4
    brow

    brow [OP] Well-Known Member

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    switched rear-view camera, custom access cab bench, tonneau cover, custom bike rack in bed, extra d-rings, de-badged, mag lite mount, weathertechs, bed lights with 3-way switches, rear spring TSB, ultra gauge, after market hitch, cab/hitch mounted canoe rack
    yeah, just had to vent, that letter really kind of ticked me off.




    "I didn't need a reason to drink tonight, but it's good to know I have one"
     
  5. Jun 2, 2010 at 4:44 PM
    #5
    uood8

    uood8 If You Search...You Shall Find.

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    Technically your old loan is still your responsibility until payoff is recieved. Dealerships won't payoff your old loan until your new loan is fully funded, This can sometimes take weeks. If you have a payment due during this time it is your responsibility, then you would need to press the dealer for reimbursement.
     
  6. Jun 2, 2010 at 4:50 PM
    #6
    brow

    brow [OP] Well-Known Member

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    '10 silver access 4x4, that'll never be done
    switched rear-view camera, custom access cab bench, tonneau cover, custom bike rack in bed, extra d-rings, de-badged, mag lite mount, weathertechs, bed lights with 3-way switches, rear spring TSB, ultra gauge, after market hitch, cab/hitch mounted canoe rack
    we'll see how it goes tomorrow. This is the first time I have bought a car from a dealership and so far I am not impressed.

    Just ordered my hard to find marine rocker switches for my bed lighting project to make myself feel better. SPDT on/on switches are a pain in the rear to find.
     
  7. Jun 12, 2011 at 6:44 PM
    #7
    Muscles

    Muscles Well-Known Member

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    haha i had problems when i tried to buy my truck also. I was a first time buyer and they were gonna give me 2.9% apr cuz i got good credit. So i bought it under that then the next day they give me a call saying they fd up and needed to make it 5.5% was such bullshit but I had them lower the price of the truck so it kinda evened out. But ya some bullshit so i understand what ur going through haha atleast u got a great truck!
     
  8. Jun 12, 2011 at 6:50 PM
    #8
    97Blk_one

    97Blk_one Well-Known Member

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    you meant stealership !sorry to hear that hopefully you get it taking care of.
     
  9. Jun 12, 2011 at 6:54 PM
    #9
    dessertsand05

    dessertsand05 Well-Known Member

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    Yea, Toyota Finincial sucks, try getting your title when you pay off their loan! It takes like a month and is nothing but problems. I would warn anyone to never count on Toyota Financial being quick or efficient. There are tons of stories out there when you check their customer history on the internet.
     
  10. Jun 12, 2011 at 7:06 PM
    #10
    dexterdog

    dexterdog My pee parts itch

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    This pretty much goes for any financial lending institution.
     
  11. Jun 12, 2011 at 10:21 PM
    #11
    Fenrisulfr

    Fenrisulfr Well-Known Member

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    Seconded; only buy what one can afford without a loan.
     
  12. Jun 12, 2011 at 10:23 PM
    #12
    horwitzs

    horwitzs Well-Known Member

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    Bummer.
    Usually on a trade-in they'll get a payoff number that is good for several weeks out to avoid this sort of thing.
    Hope it works out.
     
  13. Jun 13, 2011 at 7:34 AM
    #13
    boxxed

    boxxed Well-Known Member

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    I got one that they tried to do to me. I filed bank bankruptcy last year and wanted to keep my truck so I had to re-affirm the debt. When I saw the letter that they sent to my attorney for me to sign it had 3 extra months added on to it.
    I had to call them up and tell them to fix it. They told me that it was "Ok" that all I would have to pay it was I originally agreed to. So I told them to fix it to the corrected months remaining or they will be getting their truck back.
    Next day the corrected affirmation amount was faxed back..

    Those suckers…
     
  14. Jun 13, 2011 at 12:28 PM
    #14
    WilsonTheDog

    WilsonTheDog Kylie's dad

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    Dealers have 30 days in this state. I went through that in the past myself. As long as my credit wasn't dinged I didn't care.
     
  15. Jun 13, 2011 at 12:40 PM
    #15
    woodygg

    woodygg Well-Known Member

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    HA! This would be the 'Older First Gen Forum' if that was the case...
     
  16. Jun 13, 2011 at 12:43 PM
    #16
    97Blk_one

    97Blk_one Well-Known Member

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    If you can deal with your local bank go ahead and do that. When we bought the 4Runner they begged us to use Toyota Financial Service with a 4% Interest rate. We told them other stealer give us a 2.5 % rate. So they gave us 2.5% with Toyota Financial.
     
  17. Jun 13, 2011 at 12:47 PM
    #17
    skybob

    skybob Well-Known Member

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    It has nothing to do with Toyota financial, the dealership most likely had you sign a payoff form (usually a 10 day payoff) they have to send it in within the 10 days, or it does go up and should be the dealerships prob.
     
  18. Jun 13, 2011 at 12:54 PM
    #18
    KodiakToyTRD

    KodiakToyTRD Well-Known Member

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    I am so anal about money and dealing with people. I bought my truck sight unseen from a dealer in Fairbanks and had it shipped to me on the island, did all the paperwork over the phone and over night mail, and faxed and email with the bank. I had to make phone calls and check up with the finance department and bank and everything until I knew for sure that the trade in was paid, and shit was all taken care of. You can't just go to a dealer and not expect to hold their hand through somethings....best to keep on top of them. Good thing your bank caught this and let you know, mine didn't...it almost fucked me.
     
  19. Jun 13, 2011 at 1:44 PM
    #19
    Fenrisulfr

    Fenrisulfr Well-Known Member

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    Yet I am here in the 2gen forum. I paid cash for an 09 V6 SR5 with 12k miles on it.
     
  20. Jun 13, 2011 at 6:02 PM
    #20
    ninja90177

    ninja90177 Well-Known Member

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    My buddy traded in an '06 Tacoma for a '11 Tundra. They were to pay off the taco and And apply the difference to the Tundra.

    They paid off the Tundra, while the dealership sold the taco a couple days later. Repo guys came by every night for a week before he realized what was going on.

    They took care of everything (credit reports, etc) after he called them and asked for a name and number to give to his lawyer. They moved on that one pretty quick.

    Sorry that happened to you. Silly TFS.
     
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