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Toyota Financial Services

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READ THIS Before Co-signing with Toyota Financial Services
Posted by on
KENTUCKY -- We co-signed a loan for our daughter to buy a Toyota Corolla.

After a series of unfortunate events, she filed bankruptcy, but wanted to reaffirm her loan with TFS. They refused to reaffirm, but said they would accept her payments until the car was paid off.

They stopped sending monthly billings altogether. She mistakenly believed that, like her student loans, payments were deferred until all legalities had been settled. She had saved back the payments to make when the billings were resumed.

As you can imagine, her ignorance resulted in repossession of the vehicle. She received no notice of this impending action. Apparently, they do not have to notify her. Oh, sure...they can accept monthly payments with interest on the money borrowed by the bankrupt person, but they will not reaffirm, bill or notify the buyer of delinquencies.

That's bad enough. However, we, as co-signers, were NEVER NOTIFIED by TFS by phone or mail of the bankruptcy, delinquent payments, impending repossession, etc. until AFTER the car had been impounded...then, only to notify us by mail, 6 days after the fact, that the car would be auctioned if not redeemed.

On top of that, when we called them, they told us that they could not talk with us about it...only our daughter. When SHE called, they could only talk with US about it.

Each conversation (approximately EIGHT To TEN different calls) resulted in MIS/DIS-information. When we asked to speak to a supervisor, we were questioned as to why we needed to talk to a supervisor when they would tell us the same thing. OUR RESPONSE: GREAT! Based on the different information we had been receiving, it would be good to hear the same story from two representatives. We were then transferred to the "supervisor" Deanna who, in fact, we were told later, was NOT a supervisor, who gave us MORE inaccurate information!

The REPO department personnel were uninformed, rude, and downright deceitful. We redeemed the car immediately upon receipt of the actual redemption letter, which included approximately $500 in repo/storage fees. Had we been notified about the default on the loan, we could have settled this matter LONG ago without involving repossession and the associated fees.

Perhaps this is all legally correct, but it is SO WRONG for the consumer! A POOR way to do business, and we will certainly remember this experience in the future. This was our FOURTH Toyota purchased in 15 years and it will also be our LAST! All were GREAT vehicles! However, TMC's affiliation with TFS has soured our opinion to the point that we will look elsewhere for our automotive needs and will advise others to do likewise.
     
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Toni I. on 2006-09-27:
It's a shame... Toyota makes great cars, but their sales and finacing departments are THE PITS!!! I was going to buy a Totota RAV 4 earlier this year, but after agreeing on a price, I read the contract and saw that they were trying to screw me with excessive, fees, charges, surcharges, and exorbitant finance charges. When I refused to sign the contract unless they stuck to the original deal, they refused. I got up and walked out of the dealership and wound up buying a Nissan. The dealbreaker revolved around the fact that my vehicle was going to be financed through Toyota Financial Services, and there were plenty of unnecessary hidden charges that would have increased my monthly payment by $65 a month over the negotiated monthly payment price! I suggest that you consider bying a Nissan, as I got the car I wanted for the price I was willing to pay, and I had none of the problems I experienced at the Toyota dealer!
Nannigan on 2006-09-27:
Toni I: Thanks for reporting your experience with TFS. We have recently acquired a Nissan Pathfinder and are very pleased with its performance thusfar.

It IS a shame that TMC would allow their reputation and credibility to be negatively affected by their affiliation with TFS. However, we as consumers, have no recourse but to protect one another by reporting/posting our intolerable experiences in forums such as these.

We would encourage other consumers to post their OWN negative experience with TFS, either here or with a new review. Hopefully, TMC/TFS is monitoring these forums and will use our input to make effective changes. If not, then they most certainly deserve any and all negative consequences of that decision.
mistyified on 2010-03-13:
Thank you for posting this.. we had the same experience. TPS is a joke. WE filed chp 7 Toyota would not sign the reaffirm agreement we asked to meet with them to give them back our truck on serveral occasions.. same problem we cannot talk to you because you are in BK.. after our BK was discharged we called them.. ASHLEY ( they will never give you their last names, call back number extensions nothing) told us that if we sent in $3600 we could keep our truck and they would give us a new loan.. we were told KEEP and PAY is illegal in California so I demanded a new loan.. several phone calls later as to why I don't get statements I was told I was in BK and they cannot talk to me.. I kept making payments never missing one.. no CONTACT FROM TPS NOTHING and one day someone took our truck.. we thought it had been stolen.. once the police traced it they told us it had been repoed we called Toytota the next series of lies began.. once again never getting any consistent information, never letting us speak to a supervisor and no agent is accountable for anything.. first we were told our payments were never made, as soon as I faxed in proof they got them, they were lost, and then finally they told us that "Ashley" gave us the wrong amount to catch up on our loan.. NEVER TELLING US BEFORE.. we couldn't get anyone to understand we were no longer in BK and they were to send us infor... they admitted they made a mistake but refused to correct it expecting us to pay an extra $1000 in repo fees.. after the drama and truama this caused our family, I was just going to let them keep the truck but one day..thanks LORD I saw that it is illegal for them to take our payments if they never signed the reaffirm agreement...in CALI I email the chain of command.. nothing.. I emailed the President of TPS within minutes his assistant was on it.. she's telling us we should have our truck back by Monday... this was our 3rd toyota truck.. we will never use TPS ever again!
notrich on 2011-07-27:
this company gives us a Courtesy call by demanding we pay our bill now , over the phone. I tell them it will be paid online and in time. they asked me "why not now?" I finally had to hang up because she wouldn't accept my answer. SO RUDE! do not use Toyota Finance
asylum23 on 2011-09-17:
Even tho the OP is from 5 years ago, I wanted to comment b/c I am still having the exact same problems from this horrible company. I loved my Toyota FJ, but TFS has been a nightmare.

I have been paying my monthly $480/month for 4 years now, through varying times of having a job and also being unemployed, still made my payments.

In the summer of 2011, I was forced into declaring bankruptcy, for a variety of reasons, mainly job loss and my ex-husband refusing to take a joint home out of my name when we were divorced, then said house was foreclosed on.

I filed Chapter 7 Bankruptcy, I have no assets to speak of, I rent and own nothing free and clear. I called TFS to "reaffirm" my debt, they told me I could not reaffirm until the next payment was made, so it would be up to date. I also received a letter from them pretty immediately stating they would send me no statements and they were locking me out of my online access, hence I would not know exactly what I owed.

I made this next payment, called them back, I had 3 phone numbers, but when you are in BK, all calls re-route to some same dept., so you get the same person/people each time. On my 2nd call, got the same lady, wanted again to reaffirm, now she tells me I can not until the bankruptcy has been discharged. Fair enough, I keep making my payments. TFS refused to send me bills, receipts, or allow me to log into my online account. The reason for this, I have no idea, as I was still making the payments. She also stated, after my BK was discharged, I would receive a reaffirmation agreement.

Instead of receiving the reaffirmation agreement, within days of my bankruptcy being discharged and still being up to date on my payments, the repo man shows up and repo'd my car. Why? I have no idea. Yes I declared bankruptcy, but no I was not missing or late on payments. I could see that I could be a bad bet for future payments, but as of now I'd been paying them for over 4 years. And it was TFS who refused to reaffirm my loan, muchless send a bill, allow online access, or online payments. And paying by phone, my option since they heard of my filing BK, comes with a $5 fee each time, so I was paying that too.

At this point, I have no extra money, I had just paid TFS 2 weeks ago! They can keep the car. I guess they can sue me for the difference, which is what I understand that they do. But with financial companies acting like this, where is the consumer protection? Yes, get an attorney, well I do not have the money for that either. I think I still owed $19k on the car, I would not be surprised if they send me a bill, after auction, for $12k or so, I do not have that money. I will see if I can amend my bankruptcy to incude TFS, that costs $26.
trmn8r on 2011-09-17:
As I understand it, once bankruptcy is discharged, it is too late to reaffirm. If so, what TFS told you was not true. Perhaps they didn't want to so they pulled this stunt.
rhondam718732 on 2006-09-27:
I must be missing something. Your daughter stopped making payments. Clearly no one from Toyota IN WRITING told her she should stop making payments. You say in your post that they told her they would still accept her payments but she decided not to make them....Sound slike your daughter needs to get her head straight and you need to stop making excuses for her.
Anonymous on 2006-09-27:
Once a person files bankruptcy, the creditor is not allowed by law to contact the debtor. All communications must go through the attorney handling the case. As long as I can remember the co signers never get contacted until the bitter end, which seems like a dumb idea. I don't know why this is since co signers have the same financial responsibility as the borrower.
Nannigan on 2006-09-27:
Thank you Rhondam and JayD for your polite remarks. Please read the complaint again. As stated, our daughter DID, through her lawyer, make an honest attempt to reaffirm/reinstate the loan with TFS! She was WRONG in her assumptions, see above...NO DOUBT! Our daughter was guilty of ignorance, no excuses for that. Her head is now "straight!" She has been held accountable, let me assure you of that!

With that now CLEARLY STATED, let me reiterate that OUR complaint IS in regard to OUR experience as the CO-SIGNER with TFS and we WILL continue to BLAME them for their discourteous attitude, their deceptive behaviors, and their untrained representatives. The only notification we, the CO-SIGNERS received IN WRITING was after the fact demanding that we either redeem the car by paying it off completely, PLUS the additional $500 in fees or suffer the financial consequences of them auctioning it off and still having to pay the difference.

Dealerdirect thank you for your comment. You have a PERFECT understanding of our complaint. It is an amazing thing to us that CO-SIGNERS are left uninformed of delinquencies until AFTER the fact, yet held accountable for something of which they had no opportunity to correct!
IHATETFS on 2006-09-29:
I fell into the same situation as her daughter except I continued making payments all the way up till I called TFS to get a payoff. I called 3 times to get a payoff amount. 3 times they gave me the same amount so I wrote them a check to cover the whole amount. 1 year later they came and repossed my truck saying that I still owe 1800 dollars. They will not take any blame for the wrong figures they gave me and TFS has been very rude and unhelpful. I will never buy a vehicle through Toyota ever again and I am making sure that I let everyone know how horrible they are.
CaptainSpaulding on 2006-09-30:
TFS stands for Terrible Fukking Service!
mike in scal on 2006-10-10:
I am not very happy with this company either. Perhaps this is common practice with car loans, but they never indicate your payoff balance on the statements. Other loans I've had from credit unions always provided that info. When I asked about this, they simply say it can't be done, that it's such a fluid number that it is already out of date by the time you get the statement. They certainly are able to show my late charges when I'm late on a payment. Hah!

It's the only loan I've ever had that didn't put this info on the statement.

I have many other complaints with this company that I may post separately, but suffice it to say, I will never give them my business again. While many of the customer service reps have been polite, I've had two that were downright hostile, and that is rare in any industry. They just don't get it. And complaining falls on deaf ears. The adage about the customer is always right doesn't apply ever with this outfit.

It is a damn shame too as Toyota automobiles are absolutely fantastic, but for my next vehicle, I will either finance elsewhere, save up the money and pay cash or buy from another manufacturer altogether.

Unfortunately Toyota quality has not spread to the financial end of their business.
Nic213 on 2008-06-12:
Toyota Financial does not know what customer service is! They are terrible. They have lost checks of mine. I have sent checks in, done online bill pay, done payments through their site, and they clear on my bank's end...but not at Toyota (according to them). I think they are in the business of stealing money...not of providing loans. They wrongfully reposessed my car earlier this year, and I had to borrow money from a family member since I didn't have the money...and now along with my car loan, I also technically have a loan with this family member...and Toyota still has not fixed their error. I have my state's consumer board investigating them...but it is taking forever. I hate Toyota Financial. They are terrible. I wish I could afford to just pay off the loan all today!
quitcherbichendebtor on 2008-07-17:
OK for one TFS are all in call centers, each rep you talk to may be working in a totally different time zone, they use different systems to get information on the customer, the main collection call center is not even part of the Better Business Bureau so you can whine all you want, you signed the contract, the economy is horrible, it is attacking people that have never had financial issues, bottom line, tfs does work above and beyond for their customers, how many financial institutions can you call and get 2 monthly payments extended to the end of your loan? and people who are at 4 months past due still have their vehicles, they take into account your complete history with the loan before a repossesion, you get a "warning" letter after 2 months late to cure the amount defaulted before further collection activity is taken and even after if you do not "cure" the amount you are in default for they setup payment arrangements for you. If your check was cashed by tfs & you call b/c it was not applied to your account they investigate, sometimes checks are mailed with no account number or various other reasons. Before your vehicle was out for repo you had sufficient time to make payment arrangements, if you did make arrangements and did not come through on those then they see it as you avoiding the debt, and after the vehicle is repo'd you can make arrangements to pay and get it back before it goes out for auction, some vehicles have been held for over 5 months because the customer keeps making payment arrangements then calling back with different ones. Common knowledge as soon as you drive that car off the lot it drops in value, research before you buy, there are a lot of programs to get your vehicle at close to kelly blue book value. yes the dealership does have to make some money, those dealers sometimes do not get paid for a month or more if they don't sell a car. and the total amount you owe to payoff is including your interest, you should get a copy of your credit report & credit score before you go to finance a vehicle so you can have a heads up on about how high your interest rate will be. On to another note, you are only venting because you know you owe and can't pay, why should it be sugar coated for you? If someone owed you money I bet you would not be offering as much as tfs does to their customers. If you don't like it go to one of those joe blow dealerships and really get screwed and when they get their people to come get the vehicle it won't be nice.
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Harassment From Representative
Posted by on
Rating: 1/51
MINNEAPOLIS, MINNESOTA -- Though a period of hardship, I had fallen behind on my payments. I called this morning to bring my account up to date. What ensued was a 45 minute episode of being told I was a liar, that I didn't know how to manage my money, and many other insults when I just wanted to pay my account. It was the most insulting and humiliating exchange I have ever had with any sort of customer service. I am not surprised that I see so many other complaints. I will never buy another Toyota ever again because I never want to go through an experience like I had this morning.
     
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pat5 on 2014-06-10:
Unfortunately this is what customer service is coming to these days with many companies. On the other hand don't put up with the shoddy treatment either. You called to make a payment they should have been glad to process it with no problems without all the bad treatment. If they can't do that, refuse to listen to it and let them know you are ready to make a payment and will do so with someone who is acting courteous and professional, if that isn't them, then transfer you to someone who can be. If they won't, hang up and call again to get a different rep. Be persistent, let them know you won't be treated that way, but don't stoop to their level either, remain calm with a normal voice. Also if you have been satisfied with the performance of your car and like the dependability of Toyota's, don't write off getting another just because of this one experience. Be proactive in insisting on courteous treatment and don't communicate with them until you get it. Once they realize that's the way it's going to be I think you will have a better experience in the future. We all run into problems financially at one time or another and they should be grateful you are now willing to make amends to correct the situation.
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After Lease Turn-in I Received a Bill for $405 for a Key Fob With a Dead Battery.
Posted by on
Rating: 1/51
BEDFORD, OHIO -- I turned in my 2011 Camry SE at lease end and under mileage with no excessive wear or damage. Toyota accepted the vehicle no questions asked. 1 of the key fobs I turned in had a dead battery but otherwise worked. 4 weeks later I received a bill for $375 for a key fob replacement plus tax. The fob probably takes a $3-5 battery which I would gladly replace, but Toyota won't allow it. This is all because I signed my lease months before Toyota started the disposition fee, so it didn't apply to my lease terms. There is no chance I'm paying this! Anyone with experience and any suggestions for recourse please help.
     
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trmn8r on 2013-08-04:
My advice would be if the charge is consistent with the lease, which you appear to agree it is, then pay the bill. Personally I like having crystal clear credit, and I wouldn't not pay something I believe I technically owe.
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Toyota Financial Services - Leasing
Posted by on
Rating: 1/51
AUSTIN, TEXAS -- We leased a Toyota Camry back 3 years ago. I have leased cars for several years. I have never paid any money at the end of any lease I have had. I kept the cleaned and is a reasonable shape. We did drive them. At the end of this Toyota Financial lease, last 3 years, the car has 30,000 miles and has had dealer maintenance, I guess they charge for tires being worn, which makes me wonder, are 3 of tires they worn after 30,000 miles, what kind of tires do they provide.. also the front end, which if driven will have tiny dings in it no matter who you are.. imagine that.. not dents, tiny paint chips, hmmm, I don't if I ever had a 3 year old car without tiny dings in the front. Needless to say Toyota Financial wants their cars back from the lease after 30,000 miles, which again is 5,000 less miles than I was allowed on the lease, with absolutely NO wear at all. Means I'm giving them money basically for nothing.

Just a note to remember, don't lease from Toyota financial.
I have leased 4 other cars in my life including an Acura and several others and have NEVER owed anything at the end of any of the leases. I guess the Toyota company, needs to over charge it's customers maybe they're broke, maybe the cars are manufactured cheap now.. no quality I guess.
     
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trmn8r on 2012-12-17:
A new car often has lousy tires in my experience. It makes some sense. They are saving money, and the car manufacturer doesn't make the tire. It's a win-win, for the car manufacturer but not the customer.

As far as dings, I think is is reasonable for the manufacturer to expect no dings at all in the front of the car. There is a measureable difference between tiny nicks and dings. Tiny nicks might be considered normal, I don't know.
clutzycook on 2012-12-18:
Yet another reason why I don't lease. The first reason is because 30,000 miles would barely last a year for me.
At Your Service on 2012-12-18:
How much extra are we speaking of?
alex on 2012-12-27:
NEVER LEASE A CAR FROM TOYOTA FINANCIAL COMPANY NEVER NEVER NEVER NEVER............. BAD CUSTOMER SERVICE AND OWN MY MONEY. I REPAID ONE MONTH RENT,they never return.
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Given quite a run around
Posted by on
Rating: 1/51
I am buying a Toyota from someone that has a loan through Toyota financial services. It has been 3 weeks since I transferred the money to the owner, and Toyota still has not issued a lein release. Because of this, I have been unable to title my new car. The first time the owner called, TFS made it seem like everything was fine and that the money was going through. The owner even had her online account closed. Days later when the release had not arrived, she called and found out the representative wrote down the wrong bank account number. Thus, the loan did not get paid off. No one at TFS thought it was necessary to call anyone to fix that issue. Fast forward another week. After being told that a certain method of payment was the fastest by two different people, we come to find out that it will be another 10 days before the money is cleared. Overall, the experience with TFS has been terrible and very frustrating. Customer service has not been helpful, was rude on numerous occasions, and had conflicting answers for our questions. Do not go with TFS!
     
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trmn8r on 2012-08-14:
I've never been in the situation of purchasing or selling a car that has an existing loan, but this issue doesn't surprise me. One little mistake (that goes unnoticed) and it can create a significant delay.
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I hate TFS
Posted by on
FALLBROOK, CALIFORNIA -- I leased a Vehicle 5 years ago from Toyota Motor Corporation. 2 and 1/2 years ago I was forced to file bankruptcy thanks to a fraudulent debt consolidation company. I decided to go ahead and keep my vehicle so I continued making every payment on it and calling once a month to make sure they received my payment. 14 months ago I decided I might as well pay off my lease so I don't have to call them every month to make sure they got my payment. So within 1 week, I called TFS 3 different times to talk to them about paying off. 3 times they gave me a payoff amount that would satisfy my lease until the maturity date. So I went ahead and wrote a check in the amount of 4805.55 (which they told me I need to pay 3 times) and wrote Paid In Full in the comment section of the check. 2 days ago I find a man in my driveway towing my car. He was from a repossesion company and he said TFS sent them because I had an outstanding debt of 1805.00 that wasn't paid. I called TFS to resolve this matter and they say there is nothing they can do. The lady named Marguerite that gave me my payoff gave me the wrong figures 3 times in a row. She failed to add 4 months of payments into the figure she gave me and now its my fault. They say there computer notes don't say that she ever quoted me those figures and that the only thing they have is that she told me I had 14 more pymt. When you call to get a payoff you don't ask for months. You ask for dollars and cents right? I have no proof beacause they would not send me anything giving me my payoff balance due to my BK. They will not help me, they are rude, and obviously they don't care if they lose a customer. I have bought 3 vehicles from them and my family has bought 7 total from them. My mom co-signed for me and now her credit is showing a repossesion as well. I have spent at least 48000 on this vehicle that only had a sticker price of 27995 and I was even going to refi the maturity amount and pay it completely off. I advise anybody out there that are considering buying a vehicle from toyota to get their own financing and even better don't buy your Toyota from Toyota. By the way I hate TFS.
Alright here is the latest. TFS just sent me my rights letter, which tells me what I have to do to get my truck back. I have to pay 13,990 to get my truck out of the repo yard. They will not finance the residual for me. They want me to go get my own financing, which who is going to finance me for something that isn't even worth how much I need the loan for. So I guess I'm F*****
     
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Sparticus on 2006-09-29:
I find it odd that you did not receive any notification from them before they attempted repossession. I also find it ridiculous that they repossessed such an expensive car that was only short 4 payments! I would call a lawyer. Good luck!
Sparticus on 2006-09-29:
Amendment: I didn't mean to imply you shouldn't have to pay those final 4 payments, but I meant to say they should have put more effort forth to contact you. Particularly since you have been such a good customer. Shows you they have no compassion what so ever.
IHATETFS on 2006-09-29:
The reason they didn't contact me is because by law when you file bk they are not allowed to contact you otherwise it will be considered harassment and I could turn around and sue them.
Sparticus on 2006-09-29:
Ah I see. So they screwed up originally by giving you the wrong payoff, and then due the law, they could not contact you to correct the problem, nor were you aware. Interesting. So did you get your car back yet?
IHATETFS on 2006-09-29:
no, I cannot get it till I come up with 1800 and another 1000 for repo and impound fees and they said they won't have a total of fees for at least 3-5 days.
IHATETFS on 2006-09-30:
Alright...Here is some more bad news. TFS reported repossession on my moms credit because she is the co-borrower and never received one letter or phone call saying that they're was outstanding balance. I am pretty sure that's illegal!!!!!!! Creditors are not allowed to call me cause I filed Bk, but it says that they can still go after the co-borrower, so WHY DIDN'T THEY NOTIFY HER???When I spoke with them today they said my credit would show BK-REPO. I know that's illegal. So I am just waiting for my credit to change. I hope I have a great case so I can sue them for all this.
Sparticus on 2006-09-30:
What a mess! I hope you know a lawyer you can talk to.
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Beware - They Seek Your Full Social Security # - Illegal!!
Posted by on
Rating: 2/51
NATIONWIDE -- Toyota Financial Services provides a panic message on my answering machine to call within 24 hours. I call and give the last 4 numbers of my Social Security number. The computer provides full details on my loan.

I then press 0 to speak to a service representative on two occasions. Both times they insist on my full Social Security number or will not proceed. This is against federal law so beware and report your problems ASAP. Manager agreed they need to retrain reps so please monitor and report problems. Thank you.
     
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Dick McIntyre on 2013-07-29:
Do you actually have an account with Toyota?
What is illegal about a CSR with a financial services company with which you have an account asking for your Social Security number?
Weedwhacked on 2013-07-29:
Which federal law is this against?
yoke on 2013-07-29:
I think it is only illegal if they call you and ask for your ss#, but since you called them and you were aware of who you were calling then it is OK for them to ask you for it. You can decline and ask them what number they have on file.
trmn8r on 2013-07-29:
I don't know if this is "illegal" or not, but the approach I take is if I am calling a company that I know is legit, I give them my SSN if they ask.

Yeah, it is possible some day that I will run into a rogue employee, but I am willing to take that chance.
NJ Shopper on 2013-07-29:
You must already have or have had an account with them, otherwise they would not be asking for it. They are asking for it to verify your identity so they already have it on the screen right in front on them so there is nothing illegal them asking for it. If you don't want to give it over the phone, then ask them to verify your identity with something else.
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Unethical, immoral, disappointing.
Posted by on
MARINA DEL REY, CALIFORNIA -- I made the biggest mistake to lease a car with Toyota Financial Services. I just finished paying the FIVE year lease never late never missed a payment, they run my credit and want to charge me $10,600.00 more just on interest to loan me $10,700.00 do to my credit. They don't care if you have great history with them all they wan't is to make their money...

I don't know what I'm going to end up doing, I know I had a tough time with my credit cards by I never missed a car payment.
     
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Alain on 2011-03-20:
The trouble with your credit cards has reduced your overall credit rating and that's why they are charging more. You may have to do some shopping around for better terms with another company.
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TFS BLOWS
Posted by on
TFS are crooks. They haven't repossed anything, but they are claiming that my payment is late when it is in process and it shows in process on their web page. Bottom line don't buy a toyota.
     
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Anonymous on 2009-07-14:
Many questions.

When was the due date and when did you submit the payment?

Was it mailed or did you submit the payment as an EFT?

Did you allow enough time for the payment to be processed allowing for weekends and holidays?
dan gordon on 2009-07-14:
gee thanks for the warning. I was all set to spend $30,000 on a new Toyota but your warning will certainly make me spend my money elsewhere. How dare they accuse you of a late payment. Their cars must really suck.
MaggieMcT on 2009-07-14:
Buying a Toyota was the best automotive move I've ever made. But I did finance through my credit union.
Anonymous on 2009-07-14:
Shop around. Car before this, TFS gave me a considerably better deal that I could get from my credit union. (their service was great, BTW). This car, my credit union barely edged them out. It varies from day to day, so educate yourself on the best financing options. I wouldn't hesitate for a moment to go back to TFS if their rate was better.
Anonymous on 2009-07-14:
Shop around. Car before this, TFS gave me a considerably better deal that I could get from my credit union. (their service was great, BTW). This car, my credit union barely edged them out. It varies from day to day, so educate yourself on the best financing options. I wouldn't hesitate for a moment to go back to TFS if their rate was better.
Anonymous on 2009-07-14:
Note to Admin: the repeated post of mine here says it was posted at 12:20. At 12:20 I was at the gym, and my PC was locked and idle. I think you have a software issue.
Anonymous on 2009-07-14:
Ken, I believe they use the server time and not the time stamp on your PC.
Anonymous on 2009-07-14:
Note to Admin: the repeated post of mine here says it was posted at 12:20. At 12:20 I was at the gym, and my PC was locked and idle. I think you have a software issue.
willyum31 on 2009-09-23:
Toyota's are great cars but, Toyota Financial Services is a terrible and unreliable service. They will be shut down sooner than you think. As long as they keep up their terrible service eventually people will catch on and turn down credit from TFS.
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Avoid this organisation at all costs
Posted by on
CITY OF INDUSTRY, CALIFORNIA -- I initially financed my Toyota Tundra through Toyota Financial Services. I then sent them a payoff check from my credit union. I started receiving calls that I owed my monthly payments to Toyota Financial Services. I told them that I had sent a payoff check. They stated that it had been returned to them when they tried to cash it. I asked them to return the check to me so that I could see why it couldn't be cashed. They instead deposited it 3 more times. Now I have to send them an Indemity Form so that my credit union call reissue a check. This company isn't really interested in listening to their customers. They just do what they want to do. I talked to my credit union and they have had very bad luck dealing with TFS. Make sure you are financed before you shop for your new Toyota!
     
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viperpa33s on 2006-04-05:
Whenever ever you send a payoff check, let the finance company know and get a contact number if problems arise. I have had TFS for that past 12 years, financed 3 cars with no problems. I guess I am the lucky one.
Calisto7 on 2006-06-08:
Hate to tell you buy your Credit Union is passing the blame on to TFS. I worked at a bank for 5 years and dealt with TFS for 3 years. Toyota doesn't personally get the check ones it's rejected. Most banks are set up to automatically to redeposit the check 2-3 times total. You should have contacted your credit union to find out what the issue was and instead of them sending the check back AGAIN, stopping it. TFS's bank gets the rejected check and sends it back through automatically.

And I agree with the previous comment, ANYTIME you pay something off, call the company and tell them it's coming and who it's coming from. Saves possible problems.
willyum31 on 2009-09-23:
I think TFS has a person and a note pad sitting at a desk. And if they don't feel like taking notes they don't. I have gotten plenty of mis information dealing with TFS. I will never use them again.
tred90210 on 2012-07-08:
TFS is the worst financial company ever. I will never use TFS or Buy A TOYOTA AGAIN!!!! Dealer base are crooks, customer service is a joke, and worst lending agreement in the industy. STAY AWAY FROM TFS AT ALL COSTS!!!!!!!!!!!!!!
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