What you need to know about Toyota Motor Credit

Sep 19, 2002

The Bottom Line If you want a Toyota, get the $$ from your bank. Toyota Motor Credit Corporation will not defer payments or do anything that helps YOU ever.

Toyota Motor Credit/ Toyota Financial Services SUCKS.
If You Want To Buy a Toyota GET THE $$$ FROM A BANK or Credit Union.

First, here's a Better Business Bureau Report. THEY FLUNK:

Toyota Financial Services
P.O. Box 60116
City of Industry CA 91716

Business Started: Unknown
File Open Date: 07/18/01
Last Report Date: 08/30/02
Principal Contact: Unknown.

Phone: (800) 874-8822
Fax: Not Available
EMail: Not Available
Web Address: Not Available

Bureau ID: 13156392

Nature of Business
This company's business is providing auto loans.

Bureau File Experience

Based on our standards, we rate this company as having an unsatisfactory business record. An unsatisfactory rating is given when a pattern in the company's customer complaints causes us concern, when the company does not respond to complaints, or when it will not substantiate its advertising claims. In this case, our complaint history for this company shows that although the business has responded to some customer complaints brought to its attention by the Bureau, others remain unanswered. A Better Business Bureau report is based on our file information and experience with an individual company over the past three years. The Bureau does not endorse, recommend, or disapprove of any company, product or service.

Additional Phone Numbers
There are no additional phone numbers for this company on file.

Additional Trade names
Lexus Financial Services

Additional Addresses
P.O. Box 9490
Cedar Rapids, IA 52405

This letter was amended because it contained a calculation error. The amount that was past due was 936.07. The additional 345.15, which was towards the month covering August, was paid at the same time, for a total of $1281.22. Lease payments are due the month before the month they cover. I.E.: A payment made July 25 would cover July 26-thru August 25.

I called Toyota again today and asked to speak with Keys, but the CSR refused to let me speak with him.
Toyota also claims they called July 16 to tell my husband they were repossessing the car. What they really did was ask him when we were sending in a payment, and they were told that we were going to send it in together with the July payment, which we did.

Someone named Laurie claimed they were sending a check today. I am not holding my breath.

Bonnie Altman

-----Original Message-----
From: David and Bonnie Altman [SMTP:altman@ev1.net]
Sent: Monday, September 02, 2002 12:39 AM
To: 'internet@smccalltoyota.com'; 'larry_keys@toyotafinancial.com'; 'larry_keys@toyota.com'; 'aapd@aol.com'; 'adanet@adanet.org'; 'national@chadd.org'; 'defenders@khou.com'; '11consumers@khou.com'; 'webmaster@smccalltoyota.com'; 'marvinzindler@abc13.com'; 'jclemons@tribune.com'; 'toyota_cares@toyota.com'; 'webmaster@toyotafinancial.com'; 'tony_griffin@toyota.com'; 'webmaster@nissandriven.com'; 'webmaster@bbb.org'
Importance: High

The following are communications to Toyota Financial Services that have gone unresolved.

Bonnie Altman
xxxx Meadow Drive
Houston, TX

Mr. Keys
Assistant Branch Manager
Toyota Financial Services
P O Box 3035, Cedar Rapids IA
RE: Account 040432 31158

Dear Mr. Keys,

Your company's representatives have consistently given me false or misleading information regarding my account since July 11, which is a direct violation of consumer collections laws.

Prior to my car's repossession I had made it absolutely clear that:
A) I would be able to pay the outstanding balance by the end of July.

B) If Toyota requested, I would voluntarily clean out the vehicle and return it to the dealer.

I was led to believe that
A) Your company was accepting the disability documentation and allowing me to keep the car if paid by the end of July.

B) An agent would call if I was requested to return the car.

The official stated hours for Toyota Financial Services phone lines is 7 am to 7 PM Monday through Friday, However, when I called to report I was sending in a payment on Friday, July 26, 2002, THERE WAS NO ONE THERE TO TAKE MY CALL except a recording that you had closed at 4:30 PM. THIS IS A SERIOUS VIOLATION. Your stated hours as printed on all Toyota Financial Services billing is 7 PM!

I am giving your company 48 hours to return my July payment of 1281.22, or to return the car and provide documentation that the monies were applied to my account.

Jeff, Heather, Connie, Trent, Joanne, all said Toyota Financial would return my monies within 10-15 days from July 29 for the $581.22 and 10 to 15 days for the $700 you received on July 30.

Every single one of them told me that the money would be returned to me by August 5 because you were not going to credit my account.

Because of the situation with our family, your department agreed to allow me to keep the car as long as I paid my outstanding balance by July 31, but Toyota Financial Services did not stick to your end of the agreement, and I did. I have medical documentation and all documentation from Social Security regarding the money and permissions they gave me to use backpay for the car balance. I can prove that I was still able to maintain my account after the past due amount of 936.07 was paid off.

On July 11, Connie told me that all late fees would be waived after you received the note from my son's physician. Your department did not honor that agreement either and I have only to assume because your department claimed until August 19 to have "lost" my payments, that you also "lost" the copy of the letter from the physician.

When I called the customer service center on the morning of August 19, Joanne claimed the money was "missing". Then, when I called in the afternoon John claimed the check was mailed out to me that afternoon.

Today, August 21, I was informed by Yvonne that in fact you are holding my money for an additional 20 days, which is already 30 days over the time that your customer service representatives, including your manager, said it would be held. That ads up to 45 days for money that was supposed to be returned after 10 days.

Again, I am giving you 48 hours to either return my monies in the amount of 1281.22 or return the car to me

In any case, I must have within 24 hours a letter documenting what you are doing with the money. The amount of $1281.22 that I paid to you was taken from my son's Social Security Disability, and I was given special permission to use the money for the purpose of retaining the car. In effect, the monies I paid to you belong to the federal government.

I am advising local news stations of your degrading customer service.

I am also informing the Association for Americans with Disabilities and your competition that Toyota Financial does not make any effort to reconcile accounts with families that are forced to claim disability and experience a temporary financial hardship as a result of caring for a disabled child.

"Very Truly Yours"
Bonnie Altman

CC: Social Security Administration, ABC13 News, KHOU Channel 11, WB 39, KRIV Fox 26, Houston Chronicle, Association for Americans with Disabilities, Better Business Bureau, Nissan, Honda, Sterling McCall Toyota

From now on, I am going to recommend to my friends that they buy from Nissan or Honda instead of Toyota, and that if they do choose to buy a Toyota, that they should finance their cars through corporations other than TFS.

Toyota Financial Services has a 100% antipathy rate towards customers who undergo short-term financial difficulties, and they ignore all medical documentation of disabilities.

Shortly after our car was repossessed, a neighbor of mine who actually worked for Toyota told me that his truck was repossessed while he was at work on the car lot.

Money is 1000% more important to TFS than anything else, and they do not give a second thought to the embarrassment, humiliation and suffering they cause their customers. People - employees or customers - are no more than commodities to this company.

I was extremely disappointed in my conversation with Larry Keys. He seems highly concerned with his "business decisions" and totally apathetic to moral decisions.

He did not care that I volunteered to drive the car back, and that Toyota's refusal to let me do so not only resulted in loss of cash property, but also forced us to violate our religious day of rest; and furthermore, caused an even larger disruption to our Sabbath because our disabled son repeatedly called the police to report the "stolen" car. Had I been allowed to clean the car out and drive it back, we would have been afforded a modicum of dignity.

Mr. Keys seems unable to grasp the concept that people are needed to work in the loan industry because sometimes decision makers ignore numbers. A computer could have decided to repossess my car as easily as he had, and I would have been far less offended or surprised.

As for further action, I am currently joining a class action suit against the local Toyota dealership due to their unethical marketing practices. Perhaps I will receive a small amount of compensation from that case. I am generally politically opposed to class action suits because most of them are frivolous, but in this case I am making an exception. I see no reason to behave morally towards a company run by moral degenerates.

If I buy another Toyota in 1000 years, it will be too soon.

Thank you for your assistance,

Bonnie Altman

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