Complaint Review: Toyota Financial Services - Torrance California

Despite creating payment arrangements via telephone on August 15, 2016 with Toyota Financial, my vehicle was repossessed on August 19, 2016 at approximately 2:30 AM. According to Toyota, this was schedule on August 16, 2016 and ordered to be executed on August 19, 2016.

During the repossess on August 19, 2016, I did in fact speak to the tow truck driver and collected my personal items from the vehicle. When finished, I gave the key & key fob to the driver and asked for information or documents stating he now has possession of my vehicle, keys were given and that I did take my personal item from the vehicle. He stated he did not have ANY papers he was able to give stating this so, I hand wrote a statement (attached) and requested he fill in his name and sign. He refused due to privacy concerns and “scribbled” on the page in both spots. My wife witnessed this. While in the process of re-acquiring my vehicle, I was told a key charge for a NEW key was required to gain access to the vehicle. I stated a key was given when it was picked up but, they had NO information to this effect and stated I would have to speak to Toyota and/or the repossessing company. Subsequently a misc. charge of $168.75 was added to the account.

An investigation was begun and in the process, it was uncovered that the employee for the repossession company contracted by Toyota lost the key and then lied on company paperwork and to Toyota Financial Services to be reimbursed for the key charge which was "fraudulently" charged to me. It is this information that has influenced Toyota Financial Services to waive the charges as they are now aware of the "fraud" and cannot legally charge and request payment for this fee. This being the case, had this charge NOT been "fraudulently" applied to the account, the account would have been paid according to terms. Because this is NOT what happened, the account and last payment was NOT paid according to terms as discussions & investigations regarding the key charge was ongoing and my title to the vehicle would have been held "hostage" until the investigation was completed and possibly would not have been decided in my favor considering the key charge was the ONLY balance left on the account. It is because of this FINAL payment that had NOT been during these investigations & discussions was not paid and thus derogatory and late payment reports to credit agencies were reported. So, had the "fraudulent' charge NOT been applied to the account at all, the account would have been paid timely and NO derogatory reports would have been necessary by Toyota Financial Services.

So, I have opened a BBB Case and Toyota has answred but, still refuses to correct the derogatory credit reporting that resulted from the "fraudulent" key charge applied to the account and thus has ruined my credit. I have since respectfully requested the derogatory credit reporting be corrected due to the reason was in fact the "fraudulent" charge and since it has been waived due to evidence proving it was not valid, ANY negative actions, reporting or otherwise should be corrected accordingly also. If Toyota Financial Services refuses to correct the derogatory credit reporting for these reasons, I plan to pursue legal proceedings to have a Court review ALL the evidence including in this case and reach a determination at that time. In addition to derogatory credit reporting correction though, a request for punitive damages will be submitted to the Court.