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Toyota Motor Finance fined for not allowing customers to cancel products

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cashorcharge
Community Leader
Senior Contributor

Toyota Motor Finance fined for not allowing customers to cancel products

Have you financed a car through Toyota Motor Credit?  Did you decide that Extended Warranty wasn't needed and then you tried to cancel it and couldn't?  You're not alone..

 

cfpb-fines-toyota-financing-arm-for-60-million-for-car-loan-scam.html

 

 

Message 1 of 2
1 REPLY 1
Lou-natic
Established Contributor

Re: Toyota Motor Finance fined for not allowing customers to cancel products

It's bad enough that my local Toyota dealer charges $500 for mandatory pinstrips for every car on their lot, I can't imagine being forced into an extended warranty for one too. I mean when I get my Wrangler I plan on getting one but I wouldn't bother for a Toyota. Of course being forced into paying $500 for pinstrips (seriously in 2023...) is just one of the reasons I'm not buying a Toyota in the first place. The other is they can't be bothered to do custom orders at all and my no matter how I adust the seat and steering wheel the bottom of a Tacoma's steering wheel just rubs the top of my legs and it drives me nuts. I need the driver seat to adjust lower. Having said that my local Jeep dealer also charges a mandatory $500 for a pulsing 3rd brake light kit but they don't install them on custom orders unless you ask them to. Also any Jeep dealer can sell you an extended warranty, not just the selling dealer. There are dealers that will sell you the Mopar extended warranty for $50 over dealer cost if you know where to look. Instead of paying $3,000 to $4,500 retail you can pay less than $1,500 if you get it before you rack up a bunch of miles. The only caveat is you have to purchase it before the factory 3/36 bumper to bumper warranty has expired. I know a lot of Toyota fanboys won't care about this stuff but as a certified "car nut" the stuff Toyota does just grates on me and I can't be bothered to buy one unless things change. Their regional sales system is absolute garbage too, if you know you know. For all the things they get right they do have their flaws.




3/4/23



Message 2 of 2
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