Have had car loans with Toyota since 1994 with a total of three cars. Never missed a payment. Owned car with another person and that person lost their job. We told Toyota this, updated the records with our new address because if the address on record doesnt match our bank account address then payments wont go through. We recieved our bills at the new address for months. they claim they didnt know our new address. Complete lie. If they didnt have our new address then the bank payment would have rejected. Everything has to match.
Fell behind on payments by 90 days and they sent a bill to the new address. A bill. Not a notice. I paid them 400.00 via mailed check that they cashed on 7/23/12. This brought me under 90 days. Next payment was being made two weeks later that would have brought it under 30 days. They repo'd the car yesterday, 8/2/12 at my work place. Even though it was under 90 days. I called Toyota and they claimed no payment and were plain rude. I had to fax them my bank account statement showing them they cashed the check and they said yes they have it but it was too late.
I said they cashed it on 7/23 and they repo'd my car on 8/2 so how is that too late? Now they claim I have to pay repo fees and make the account current and then they will apply the 400.00 they have on "hold" to future payments once the account is current. What??? Its not on hold-they cashed it. They have my money. Plus they wont tell me what I now owe until I get a letter in 3-5 days. A certified letter now? Not when they are going to take a car? They sent no repo letter, no phone call they were going to repo...nothing. I has no idea that my 400.00 didnt matter or wasnt being applied.
How can they do that? I sent in my payment thinking I was doing the right thing and that my account was ok. How can anyone do that? How can they cash a check and not apply it to the account and repo my car for being 90 days past due when the 400.00 payment would have brought it under 90 days? How is this legal? I would have better off crashing the car into a tree and totalling it out since I have gap insurance. then I would have rid of the car and rid of Toyota. What a terrible business practice.