What are the chances of Toyota Financial negotiating the ‘REINSTATEMENT’ amount? – Crystal

I regretfully made the mistake of not communicating with Toyota Financial and confessing to my change in my financial situation, due to being laid off from my job.

So of course the dreadful results of Repossession took place… The combination of losing your job and getting your car repossessed is beyond stressful,
Toyota Financial repossess the car, sends me the letter for reinstatement with a pretty breakdown of all the charges.

I now have $800 in storage and repossession fees on top of what they are requiring me to pay for reinstatement. That’s a total rip off! But I NEED A CAR!

I’m only down the $800..What are the chances they are willing to work with me before the auction date? I mean, i know it’s required by law that i MUST PAY IN FULL but can this be negotiated…? or is it the matter of the person from Toyota financial might be having a bad day and just doesn’t feel like it and provides no other options or alternates? They obviously want their money back and lose money if up for auction.

I want to approach this carefully and not sure what it’s all really worth.

So if i don’t have ALL what is on paper, will they not be willing to work with me?


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2 thoughts on “What are the chances of Toyota Financial negotiating the ‘REINSTATEMENT’ amount? – Crystal”

  1. Just came out of work to fing my car gone was less than 60 days past due, of corse no one to contact at this laste hour at TFS, I have recently moved 2 x in the past year but they took i from my job, I have recieved no notices or contact from them what are my chances of getting my car and my belongings back that were in it?????

  2. Hi Crystal,

    Unfortunately they have all the cards and the car. It is unlikely you will get the car back without meeting the terms you have been given to meet.
    Worse yet, if they get less than what you owe on the loan at auction, the difference will be treated as a deficiency balance and it will be sought through typical collection channels.
    Finance companies repossess and auction using standard operating procedures. Getting them to do something other than what is SOP would be out of the ordinary.
    If I have a suggestion it would be to get as high in the food chain as possible (supervisor, manager) and see what if any options, whether common or not, can be made available to you.


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