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Toyota Motor Credit Corporation complaints

6565 Headquarters Drive
Plano, TX 75024
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(800) 874-7050

http://www.toyota.com

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Total Amount in Dispute:
$33,491.00

Total Amount Settled:
$0.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

Most complainants allege billing problems or credit related disputes in connection with their automobile finance contract. Some customers complain their payments are not credited to their accounts or are applied to another customer's account in error. Other complainants allege unfair reposessions unethical collection tactics such as daily calls or that the company reports incorrect information to credit reporting agencies. A few customers complain that the company fails to provide pink slips or evidence of clear title when payments are completed. ~~The company responds to most complaints by generally denying most requests for resolution proposed by the complainant. In a few cases credits or adjustments are made. Complaints regarding mis-applied payments are usually addressed by requests for the customer to provide proof of all past payments. Some complainants claim they previously supplied the payment history documentation; however the problem was not resolved.

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Complaint Closing Statistics

16 complaints against Toyota Motor Credit Corporation closed in last 3 years.
Complaints Type of response
0 Making a full refund, as the consumer requested
0 Making a partial refund
10 Agreed to make an adjustment
0 Refusing to make an adjustment
6 Refuse to adjust, relying on terms of agreement
0 Unanswered

16 complaints against Toyota Motor Credit Corporation

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4/10/2024

RESPONSE: Refuse to adjust, relying on terms of agreement Amount in Dispute: $0.00 Amount Settled: $0.00

Customer Complaint

3/28/2024

I have been sending letters to Toyota Financial they are reporting negative information on my credit report on my Equifax and TransUnion and this is affecting my credit really bad and Toyota Financial has been ignore my request multiple times with no response at all . Resolution Sought To remove the accounts from my credit report .

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Company Response

4/1/2024

April 1,2024 Mr. Hernandez-Ortega Account #0266461535 This is in response to the complaint filed against Toyota Motor Credit Corporation (TMCC) by Mr. Hernandez. First and foremost, TFS would like to thank Mr. Hernandez for bringing his concerns to our attention. Please know that TFS makes every attempt to positively respond to all our customers; however, we are required to report all information accurately to the Consumer Reporting Agencies (CRAs) based on a customer's payment history. Unfortunately, we are unable to accommodate Mr. Hernandez request to remove any negative information reporting on their tradeline as we are required to report accurate information to the CRAs. TFS strives for excellence in customer satisfaction, and we sincerely appreciate Juan Hernandez for bringing this matter to TFS's attention. If Mr. Hernandez should have any further questions, he may contact our Customer Service Center at 1-800-874-8822, Monday through Friday. We may include Personally Identifiable Information (PII) as necessary to the complaint as submitted by the customer. We do not control how or whether the BBB safeguards our response or the PII in our response after submission.

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Customer Rebuttal

4/2/2024

To remove the accounts from credit report Toyota has filed to response to my letters I have sent multiple to them by mail with no response from them.

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Company Final Response

4/8/2024

April 8, 2024 Mr. HERNANDEZ-ORTEGA Account # 0266461535 This is in response to the complaint filed against Toyota Motor Credit Corporation (TMCC) by Mr. Hernandez. First and foremost, TFS would like to thank Mr. Hernandez for bringing his concerns to our attention. Please know that TFS makes every attempt to positively respond to all of our customers; however, we are required to report all information accurately to the Consumer Reporting Agencies (CRAs) based on a customer's payment history. Unfortunately, we are unable to accommodate Mr. Hernande request to remove any negative information from their tradeline as we are required to report accurate information to the CRAs. Please know TFS strives for excellence in customer satisfaction, and we sincerely appreciate Mr. Hernandez for bringing this matter to TFS's attention. If the Mr. Williams should have any further questions, he may contact our Customer Service Center at 1-800-874-8822, Monday through Friday. We may include Personally Identifiable Information (PII) as necessary to the complaint as submitted by the customer. We do not control how or whether the BBB safeguards our response or the PII in our response after submission.

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3/3/2024

RESPONSE: Refuse to adjust, relying on terms of agreement Amount in Dispute: $4,200.00 Amount Settled: $0.00

Customer Complaint

2/14/2024

Toyota repossessed my car, I was 60 days late but had told them I was trying to catch up. Loss of social security for two months. Caused my late payments. I lost my job because they took the vehicle. I couldn't come up with funds to get my vehicle back. They took it after I had repaired it and put information on carfax (Jan 15-16) stating that. (Jan17th) They took it the next day. I had no way to get home I worked 50 miles from home. I got COVID that weekend I've been sick ever since . Resolution Sought I want to get my car back , refinance it . I run a non profit horse rescue a vehicle is important for us . I feel they should have given more time . Now I can't get loan for car. I had till Feb 3 to get it back but I could not get a loan due to credit. I know I'm not the only one they have done this too. Being an older woman I feel I just treated unfairly. Whenever I call them they were mean and nasty to me on the phone. Now my credit is ruined.

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Company Response

2/16/2024

February 16, 2024 Contact Name: Ms. O'Neil Account Number: 0276828830 The Executive Office of Toyota Financial Services (TFS) is in receipt of the complaint filed against Toyota Motor Credit Corporation (TMCC) and TFS regarding the repossession of the above referenced vehicle. Our records reflect that on September 28, 2019, Ms. O'Neil entered into a retail installment sale contract for their 2010 Toyota Rav 4, with 60 payments of $267.16 due on the 12th of each month. Our records reflect that prior to the repossession of Ms. O'Neil's vehicle on January 17, 2024, TFS attempted to contact them several times by phone at the phone number on file, with no response, to discuss the status of their account. Furthermore, on October 31, 2023, we mailed Ms. O'Neil a cure notice, which informed them that their account was past due and required their immediate attention to prevent any repossession efforts. TFS did not receive Ms. O'Neil's payment for the months of September, October, and November 2023. As a result, Ms. O'Neil's vehicle was approved for repossession. Pursuant to the retail contract Ms. O'Neil signed for the referenced vehicle, if a customer should default on payments, we may take possession of the vehicle as permitted by law and require our customer to pay the amounts set forth in the contract. Therefore, we respectfully decline Ms. O'Neil's request for additional time to pay the fees associated with the lawful repossession, as their legal sale date passed on February 3, 2024. We have sent Ms. O'Neil's contract and rights letter under separate cover due to Business Consumer Alliance system limitations. TFS respectfully requests they contact redemptions at (866) 364-8758 with any questions in regard to the rights letter. TFS makes every attempt to positively respond to all of our customers; however, we are required by federal law to report all information accurately to the CRAs based on Ms. O'Neil's payment history. As a result, we are unable to accommodate their request to remove the valid adverse credit markers. It is our understanding that Ms. O'Neil may have the option to add a 100-word consumer statement to their credit profile explaining the circumstances that caused this occurrence. They may contact the following agencies to learn more about this option: Equifax: PO Box 740256, Atlanta, GA 30374 (800) 685-1111 TransUnion: PO Box 2000, Chester, PA 19022 (800) 888-4213 Experian: PO Box 2104, Allen, TX 75013 (888) 397-3742 Innovis: PO Box 1538, Columbus, OH 43216; (800) 540-2505 We realize this may not be the response they desired, but we hope our above reply has resolved this matter amicably. Please know that Toyota Financial Services strives for excellence in customer satisfaction. If there are any additional questions regarding this concern, please contact us at (800) 874-8822. We may include Personally Identifiable Information (PII) as necessary to the complaint as submitted by the customer. We do not control how or whether the BCA safeguards our response or the PII in our response after submission. Toyota Financial Services is a service mark of Toyota Motor Credit Corporation (TMCC). Retail installment accounts may be owned by TMCC or its securitization affiliates and lease accounts may be owned by Toyota Lease Trust (TLT) or its securitization affiliates. TMCC is the servicer for accounts owned by TMCC, TLT, and their securitization affiliates.

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