imho
MB
Jake Stichler
Hobo
JeepersToyota Financial Services: Why You Make It So Hard To Pay You?
First off, the customer service people that I’ve dealt with at Toyota Financial have been great. Some of their policies however, are just plain silly.
My current vehicle is a Scion Xb that I purchased new about 2 1/2 years ago. Yes, it was a dumb purchase, I of course realize that now.
When I purchased the vehicle I signed the loan under my name and my company as well.
During my bankruptcy I decided to reaffirm the car, and continue making payments on it, but Toyota is sure making it difficult.
My grips:
1. No statements - Toyota refuses to send me monthly statements because apparently they cannot contact me because of the bankruptcy
2. No autopay - Auto payment cannot be setup because of the bankruptcy apparently as well.
3. No online pay - I cannot login to my account online at TFS, it got disabled during the bankruptcy and cannot be turned back on.
So, I asked (jokingly a little) “So, I can’t get a statement on this loan. I can’t setup an auto-payment, is the loan even still active?”
Well, it is. But I tried. It’s just kinda crazy, I’m trying to make payments to Toyota, and they are just making it difficult. It’s not a huge deal to mail a payment each month, but without a statement, it’s just an annoyance. Maybe I’ll look into bill-pay again at my bank.
It just seems that a customer like myself that goes through a bankruptcy and then wants to keep their car (at least until it’s no longer upside down)…you’d think they’d make it easier to pay each month. Weird.
Here’s my current balance:
| Car Payoff | |||
| 40% | |||
| 20000 | 0 | ||
| 12088 | -> |
I'm 300K in debt. Gulp. I'm 24 and day traded away a fortune. Now I'm trying to crawl back to zero. Why not subscribe to my RSS feed and join me on this journey. You can also subscribe via e-mail. I appreciate tips and feedback! ~ DebtKid
on May 16th, 2008 at 5:22 am
Hey, there are a lot worse things you can buy than an xB. I bought the base model 2 1/2 years ago also, at least they do hold their value fairly well.
I am not upside down which is something…
on May 16th, 2008 at 8:07 am
Any chance you could sell the vehicle and get out of this loan with them? Sounds like since you did BK they don’t want to be your friend either.
on May 16th, 2008 at 9:54 am
Yuck. Dealing with them, or trying to at least, sounds like a big pain in the butt. Good luck and remember, you’ll be out from under this eventually!
on May 16th, 2008 at 11:18 am
They are my lender for my car too. I haven’t had any problems with them yet. have you tried complaining to them about their inconvenient payment options? I can’t imagine that if you talk to a live person, they wouldn’t see your side of things.
on May 16th, 2008 at 11:51 am
You shouldn’t have done a BK in the first place. Fix your main issues first and stop worrying about where to send payments and how difficult it is. This whole thing could’ve been avoided, but now you must take in the bad side.
on May 16th, 2008 at 9:43 pm
Back in the old days, when you owed money, it was up to you to repay it. Perhaps you can use this as an opportunity to bring some honor back into our society, instead of listing your gripes.
on May 17th, 2008 at 1:22 pm
To Lost Cause(the last poster)
Back in the old days there wasnt computers and bill pay and auto pay and oh yeah THE INTERNET. I have to agree with debtkid, why not make it reallly easy for people to pay bills. I mean, why not? its that simple why not? I pay everything with bill pay or autopay, its fantastic! FANTASTIC I TELL YOU.
It took me a while to give bill pay a try and I cant believe how easy it is. No stamps, no cost ..nothing. And the Auto pay I just recently figured out I guess you could say… I just didnt trust it really esp. with my credit card you know how they love to charge you late charges. But it works really great.
patty
on May 17th, 2008 at 4:02 pm
@ Ty - I agree that I must take the bad side of declaring the BK, that’s a valid point. Could it have been avoided in the first place? Not likely. I tried but in the end it was the only sensible option. But I will have the consequences of it with me for the rest of my life (honestly, it ranks pretty low in terms of stuff I could be embarrassed about!)
@ Lost Cause ~ Uh, I am paying them back, that’s what this whole post is about.
on May 17th, 2008 at 4:19 pm
Ty and Lost Cause…… are you reading just to get on your self-rightous high horse? Here the guy is sharing a bit of himself, why be like that? Is it in any way constuctive? Nope.
Our society has adjusted to be electronic based, and the companies are subject to BK laws, so they may error on the side of caution.
“Back in the old days,” I bet you at least had a book of payment coupons with the billing address. Patty covered the rest.
DK, I think that you should be able to call them and request that they send statements. They may ask you to fax a letter to their credit dept. to cover their butts, but the BK is discharged, and they are in the clear for sending you statements since you reaffirmed. They probably are behind with getting the paperwork processed and back out to you. It’s a drag that it is more difficult to keep it up then to walk away. We have found the same thing to be true in our own situation. Anyhoo, I bet they’ll get it square for you once you contact them and see what they need.
on May 18th, 2008 at 3:37 am
I think it is fine that DK recalls the chain of responsibility each month, even if he is reminded the hard way, when he takes the initiative and jumps through all of the hoops to pay back what he owes. Perhaps he will avoid taking easy money if it is not so easy. I actually learned the hard way, when I was late with the first payment that I ever owed. It is up to the person who owes the debt to take care of it. I just told my kid the same thing. I applaud Toyota for driving home this subtle point. Seriously, they don’t even have to send you a coupon book. (Now that you mention it, I never did get statements, just the coupon book.) That is called the honor system. It is more than a quaint notion from the horse and buggy era.
I like using bill-pay. But automatic payments will just bounce dozens of checks. Why do you want such things, DK? You are in a humble position. Don’t complain, it makes you sound like you feel entitled.
on May 18th, 2008 at 4:40 pm
If it were my choice… at this point I would just make the decision to keep the car. This should be a pretty dependable car being Toyota and all, also the gas mileage should be pretty decent. By the time you get to the point where you’re not upside down, you should only have a year or so left on the payments. If you choose to sell it at that point, you would be giving up a car that you know and have taken care of. should you try to get the all-popular-with-the-debt-reduction-crowd “junker” you will be jumping from the frying pan into the fryer… Just read JW’s blog at “weneedtobedebtfree”. Putting faith in cheap used cars is not the best answer. You will end up with unforeseen repairs for anything from a broken wiper motor to a new tranny or engine. I would just stick with what you know at this point.