Toyota Financial Services...

[N1rve]

I used TFS... nothing but helpful.

[FirestormFRS]

TFS finances 100's of thousands of loans a year. I checked and they have 135 complaints with the BBB. Yeah I'm not sure what issue you are having, but I'm pretty sure you may be one of "those" people that think everything has to be your way.

[speargunsandracecars]

Get a loan through your bank.

[Model Citizen]

Set on auto pay and forget about it?

[ihaskrayon]

Pay your bills? Seems like the logical adult thing to do

[Marco_86]

How can you say this and not give us details????

[Mister]

My one issue with TFS is my own damn fault, I did not read the fine print.
I tend to make extra payments every month, separate from the normal monthly payment. They will not apply it towards the principle, only towards the next months payment. As a result I can never get ahead on interest, and I have the next 3 months of payments already paid.

I am refinancing through my own bank in the next couple of months and paying off about 30% of the balance at the same time to drop the monthly payment, and allow me to actually make principle payments. I want to pay my car off in 2 years, but signed up for the 6 year loan for some flexibility. I really do not want to pay 6 years of interest when paying it off in 2...

But like I said I cannot bitch about TFS here, I should have read the fine print and realized that this is what I was signing up for.

[kthxbai]

@Mister

Is there no way for you to send either a physical or electronic check from your bank (instead of doing a draft from your checking account) and place a note on the check stating that the payment on this check is to be applied to "principle only"?

I am able to do this with my school loans, so I wonder if you are able to speak to the right person at TFS that they may be able to help you out on this. It may just mean that your form of principle payment is different from your monthly drafted/online payment.

[MokSpeed]

I'm going to start a rant thread and then not go into detail. That'll show TFS!!!

[finch1750]

Interesting. I specifically asked about this and was told it was possible. Like stated above though I believe it must be a physical payment not just added online or by phone. Im gonna have to go reread my contract later now.

[strat61caster]

Originally Posted by Mister

I tend to make extra payments every month, separate from the normal monthly payment. They will not apply it towards the principle, only towards the next months payment. As a result I can never get ahead on interest, and I have the next 3 months of payments already paid.

Huh, I'll be damned, I went through my records and I think that once you go to make the last payment (ahead of schedule) your final payoff information will reflect the fact that you're ahead of schedule, you won't pay the full maturity value.

My bank values aren't adding up, I need to dig up statements to double check but I believe that at any point because I was paying more than the minimum if I added up all my payments plus the final payoff amount that TFS puts on their site I was paying less than if I made the minimum monthly payments all the way through.

Basically once they have enough in advance to payoff the principle they will, otherwise they hold the money like you described. At least that was my understanding.

[DeeezNuuuts83]

Originally Posted by kthxbai

Is there no way for you to send either a physical or electronic check from your bank (instead of doing a draft from your checking account) and place a note on the check stating that the payment on this check is to be applied to "principle only"?

I haven't had a loan through TFS, but when I did have a car note on my Evo (through Chase), if you make your payments online through your bank to the company financing your loan (assuming that they are not one and the same), it will default to paying the balance due, and any overpayment will count toward the following installment(s). In most cases, to have overpayment (whether it is you paying more than your monthly installment or sending an additional payment) count toward the principle, you have to actually mail it in with the payment stubs that they send you, and there is a box you can check off to specify that you want that extra amount to go toward the principle.

But still -- what was the problem with TFS? My girlfriend's loan on her 2010 Corolla LE was through them, and we've never had any problems.

[Funktional]

You can prepay the principle with TFS, you have to send a payment and specify that you want the extra applied to your principle. I've used Penfed, Navy Federal, Honda Financial and TFS and I would rate them all as being excellent to work with.

[Silver Ignition]

I work for a dealer and deal with TFS on a daily basis. They're fantastic compared to most.
Like someone said above, and as suggested by your first post, you might be, what we refer to at work, as "one of those".

"Maybe you get bad customer service because you're a bad customer"
http://themattwalshblog.com/2013/11/...bad-customer-2