Our Corolla Got Repossessed By Toyota Financial Services!

Friday the 13th of March marked the day that our Toyota Corolla got repossessed by Toyota. I was working away at my 9 to 5 job when the office administrator came over to me and told me that there was a gentleman who had come over to see me. When I was walking through to the reception area and spotted the gentleman I had a bit of an idea about what was going to happen (It was N from Impact Recoveries Ltd and I had a run in with him late last year).

By the time I got to the reception area he had already made his way outside where greeted me politely and explained the situation. I was a couple of months behind on my payments and this time around he had been instructed to take the vehicle. He then proceeded to ask me for the keys and said that he would quickly fill out the paperwork he needed to fill out and drive off so that my co-workers wouldn’t have any idea about what was going on. I was a bit stunned at the time and I did not know what to say or do. As I mentioned earlier on he did pay us a visit late last year when we were behind on our payments. At that particular time, we worked out a payment plan to catch up on the payments which if we hadn’t met, he would have returned to cease our vehicle. On Friday there was no two ways about it and he had to take the car and that was that. He took a quick look around the car to check that everything was as it should be, wrote down the mileage, filled out some paperwork, some of which he gave to me and he drove off.

I stood in the parking lot for a little while trying to digest what had just taken and then called my wife to tell her the car had been repossessed and she was in a bit of shock as well. I guess the tiny bit of consolation from the episode was that he was very discreet about it and, he did say that I still had a chance of getting the car back. What I needed to do was to get in touch with Toyota Financial Services to see if I could work out something with them. After getting in touch with them, they told me that I could pick up the vehicle after paying the overdue amount, warrant fee and agents costs. The episode was all a bit of a shock because I was under the impression that late payments were usually referred to external debt collection agencies but it may have been different in this case because of my history with them and maybe even the current economic climate (it is no secret that Toyota is not doing so well).

Why am I even writing about this? Well it is just show how much of a tight squeeze it is in this day in age and that even though I may go on a lot about ways of making money it won’t mean a thing if you don’t pay close attention to all your expenses. Even those who are fortunate enough to still have a job are looking for extra income because for a number of people, it is becoming more difficult to ‘live’. Doing the things that we should be doing reasonably well such as budgeting, paying off debts (if you have any) and saving become difficult tasks that just give you a headache.

I am tired of living like this and I am going to do all that I can to me and my family out of this situation. Budgeting, paying off debts and the likes are things that we are already trying to do. We may have gotten to it a little late but I am determined to get OUT!!!

21 Responses to Our Corolla Got Repossessed By Toyota Financial Services!

  1. Terence Chang March 19, 2009 at 5:35 am #

    Gerri:

    It’s been a while. I hope you get through all these troubles.

    Making money and and save money are equally important. Real rich people knows how to use saved money to generate more money. Watch your spending is very important.

    Don’t over spend what you can afford. That’s what was happening to most American who need gov’s bail out plan.

    Good luck to you!

    • Clint March 30, 2018 at 7:56 pm #

      Hello,

      I’m very sorry for your loss. I’m in the same position and was hoping you can let me know how many months you were behind. I’m currently 2 months behind and worried they might take my car too. I will check back here to see if you respond considering it’s been 9 years since you posted this.

      Thank you!,

      Clint

      • Gerri March 30, 2018 at 10:24 pm #

        Hey Clint,
        Thanks for stopping by. We were about two (almost three months) behind on payments at the time. Without knowing what your current financial situation is like, I’d say try and make a plan to get back on track so that the same doesn’t happen to you. It’s a pain having to go through the process.
        I hope everything works out for the best for you.
        Gerri

        • Clint March 31, 2018 at 11:11 am #

          Thank you, Gerri! Stay cool

  2. Gerri March 19, 2009 at 9:51 am #

    Hi Terence,

    Thanks for stopping by. It has been a while. We as a family are really working hard to watch what we spend so that we don’t end up in even more trouble.

    Thanks for the wishes.

  3. Anonymous April 6, 2009 at 2:33 pm #

    same thing happen 2 me…beside the overdue balance …like hom much money did you pay to get your car back?

  4. Gerri April 7, 2009 at 7:39 pm #

    @ Anonymous,

    Just over $1000 was overdue and all relevant fees were just over $300. We had to pay close to $400 dollars to get the car back.

    • Naye February 5, 2018 at 7:02 am #

      Hi and did you continue to make the normal payments every month?

      • Gerri February 13, 2018 at 4:36 pm #

        Hi Naye, yes, we continued to make the normal payments per month.

  5. Frank Eveys August 24, 2017 at 1:27 am #

    I feel your pain. I also had my car repos 8/16/17 am I’m still waiting for this rights letter to appear. I was 30 days late on my car payment. The only good what came out of this is that there is no storage fees in Mass. My car is being held for 7 days now. Can someone tell me how can I get my car back with this letter that I need. It’s called a rights letter to release. Toyota can inthat that piece of paper.

    What can I do? Who can I call?

    Frank

    • Gerri August 24, 2017 at 7:50 pm #

      Hi Frank,

      Thanks for stopping by. In our instance, we came to a resolution with Toyota where all that we had to do in the end was pay off the outstanding amount. Luckily enough, we were able to come with the required funds.

      • Bob February 17, 2018 at 2:42 pm #

        How did you find out were your car was towed to…???

        I’ll Bo

        • Gerri March 2, 2018 at 11:57 pm #

          Hey, thanks for stopping by. I called Toyota and they told me where the car had been taken to.

  6. Mrs. Grady April 16, 2018 at 12:44 pm #

    Hi My car was repossessed Today. I am currently 84 days behind due to financial situation. Do You know whether or not I have to pay the past due amount or will they work out something with me. I don’t have that type of money laying around.

    • Gerri April 17, 2018 at 4:51 pm #

      Hi, thanks for stopping by. In our situation, they requested that we pay the entire past due amount. I’m won’t know what they may want in your situation. It would be best to call them (sooner rather than later) and see if you can work out some sort of arrangement.
      All the best.

  7. Belen June 5, 2018 at 8:25 am #

    Hello, my car did repo on Saturday night, they told me today Monday, that they would send me a letter with the amount I have to pay and then I can go and pick up my car. Do you know if I will have to pay only what I am behind but with the towing fee? Or will the entire loan be? I was only one month behind.Thanks

    • Gerri June 6, 2018 at 5:18 am #

      Hi Belen, thanks for stopping by. We only had to pay the amount that we were behind by and the associated fees. All the best.

  8. Current Corolla Holder August 16, 2018 at 3:03 am #

    It amazes me to see the comments on this page regarding being Repossessed By Toyota Financial Services! I too fell into a situation where I lost my job, contacted Toyota to let them know about my situation to work out payments and they “did not” care at all. My vehicle is a certified used vehicle and I have definitely learned lessons from the Toyota Financial Company; “DO NOT PURCHASE”. While getting back on track I make payment arrangements with my mobile number as the point of contact and my work number on the Do Not Call List, yet I have had 2 representatives call my current employer, the last just this morning by the name of Denise. After clarification from 3 prior representatives who verified my employer is on the do not call list Denise insisted that my employers number is not on the DO Not Call List, which I know is a lie. Needless to say Denise’s lie was not bigger than the lie stated in my paper work with Toyota Financial that my repossession took place at an employer in which I was no longer employed and the Corolla was not taken from that location. Understanding that it is a business but, If it’s all about the money and no customer services then why bother? Everyone falls on hard times.

    • Gerri October 3, 2018 at 8:29 pm #

      Wow! It seems as if you went through quite an ordeal with Toyota financial services. I guess it’s a good thing to know what to do in order to ease the ‘harassment’ such in the case where you were being contacted via a number that was a do not call list. And yes, everyone does fall on hard times at some point. At the end of the day, it is up to us to learn lessons and work and work at paying back any money that we may owe anyone.

  9. dayday November 4, 2019 at 8:36 am #

    Hi I’m just wondering how long did it take you to get your back? (Days,weeks)

    • Gerri December 3, 2019 at 8:25 pm #

      As soon as the outstanding amount was paid off, we were able to collect the car from Toyota.

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