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How Long Does it Take Toyota Financial Services to Repossess a Car? – Tammy

“Dear Steve,

I am behind in my payments.

How long does it take before toyota services reposess your car?

Tammy”

Dear Tammy,

Almost every situation is different. The bottom line is that if you are more than one payment past due you need to be concerned about repossession.

My advice would be for you to call Toyota Financial Services and try to work out a suitable payment solution that will get you current. If you can’t do that, be honest with them, and make arrangements to give the car back so you don’t walk out one morning and it isn’t there.

Just be aware, if you give the car back or they take it, the car will be sold at auction and you will be sent a nice big bill to pay for the difference in the loan amount and the auction sales price.

Oh yes, take all your personal stuff out of the car now. At least the stuff you would miss if the car was snatched back by them.

Sincerely,


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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20 thoughts on “How Long Does it Take Toyota Financial Services to Repossess a Car? – Tammy”

  1. Look, i work in legal field. Put your car as i am doing, (for my sister in law) who they do not at all know where i live, thank God. Damn voltures @ SOUTHEAST TOYOTA. She has her car in my private property GARAGE. TOYOTA can’t repo a car that is in a HOMEOWNER/CONDO and or a PH private house garage. I did it for my other brother and they did not get his car at all.Was in a garage for about 5 long happy months. Then,he was making pymt., on it when he got taxes back,and a bonus at a new job,for selling his 2nd home in 3 months,all worked out. I know the law. Do not a repossession crappy company scare ya. But try to borrow money or take a third fourth second job if warranted, just get the pymt.in, and or try to find a company to pay off the car loan at crappy toyota southeast,to get another car. Good luck, and remember a “garage is key.” Legally able to do what i did for fam members,and both are better off. If the man or woman knock on door?You’re NOT force to open it. They also can’t bang on your door like a cop.they are not a cop period.and even cop has to have a warrant to enter. Put a cam @ your front/side door/back to “catch him turning the locked door.” You then can have repossession man arrested After a few knocks he has to leave also< and learn your law and good luck everyone

    Reply
  2. I was three payments behind and I move never change my address they found me took my car and getting it back is hell I tell u $20 a day 3 months of payments plus oh another month payment that came due the 22 day I was able to pay my car off to get it back plus repo fees and I have to pay to get my personal belongs back on top of that the repo they deal treat u like shit when I get back on my feet I will never deal with them again

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  3. They just took mine! I had that so called “payment arrangement” of $100 a week, which I had been paying on time EVERY week, but they took it anyway! I used the car for pharmacy deliveries. I since lost the job, my water has been turned off, and the electric goes off next week. I haven’t eaten in 2 days….yeah, Toyota RAWKS!

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  4. A few years ago I was 5 months behind on car payments with a luxury car I financed with an large bank who you could say was Chasing Me. Funny thing is I got served papers that I was trying to “conceal” the car when all I did was park it in my garage like everyone else in my neighborhood. Interestingly, my employment situation was resolved and some money owed to me was also paid back to me so I called the bank and the bank’s attorney that served me the papers to do the right thing and completely pay ALL arrears and, ALL fees and attorney fees in full. At first the Attorney seemed surprised that I had the money to do so and said it shouldn’t be a problem, but after he talked to the bank they informed him they refuse the full payment of arrears and fees and that they just want the car or me to pay the balance in full. I was shocked they would not take my money to completely catch the arrears up, but I did not have near enough money to pay off loan which was much higher than the car was worth.

    Long story short, they sent the sheriff again with a court order and I had to surrender the vehicle or risk contempt of court. Of course it was auctioned for far less than what was owed on it and they have a huge deficiency balance (over $40,000 last I recieved a collection letter). They will never see a dime of it!

    I live in Dallas so through all of this I discovered that different states have different laws. Some states require creditors to accept payment of all arrears and fees and not repo or release a repoed car, while other states can call the note due and come take the car if they want to.

    Just another example of a creditor kicking someone when they are down, but in the long run they lost out.

    Reply
  5. I know somebody who was six months behind on his Toyota Tundra payment. He moved into an apartment under his wife’s name and didn’t let anybody know where he lived. He also parked his truck about 1 mile from the apartment. He does’t know how they found him, but they did. His truck was worth like $10k, and he only owed around $4k. They kept his truck for about a month until he could borrow money to pay it off.

    Reply
  6. I know somebody who was six months behind on his Toyota Tundra payment. He moved into an apartment under his wife’s name and didn’t let anybody know where he lived. He also parked his truck about 1 mile from the apartment. He does’t know how they found him, but they did. His truck was worth like $10k, and he only owed around $4k. They kept his truck for about a month until he could borrow money to pay it off.

    Reply
    • A few years ago I was 5 months behind on car payments with a luxury car I financed with an large bank who you could say was Chasing Me. Funny thing is I got served papers that I was trying to “conceal” the car when all I did was park it in my garage like everyone else in my neighborhood. Interestingly, my employment situation was resolved and some money owed to me was also paid back to me so I called the bank and the bank’s attorney that served me the papers to do the right thing and completely pay ALL arrears and, ALL fees and attorney fees in full. At first the Attorney seemed surprised that I had the money to do so and said it shouldn’t be a problem, but after he talked to the bank they informed him they refuse the full payment of arrears and fees and that they just want the car or me to pay the balance in full. I was shocked they would not take my money to completely catch the arrears up, but I did not have near enough money to pay off loan which was much higher than the car was worth.

      Long story short, they sent the sheriff again with a court order and I had to surrender the vehicle or risk contempt of court. Of course it was auctioned for far less than what was owed on it and they have a huge deficiency balance (over $40,000 last I recieved a collection letter). They will never see a dime of it!

      I live in Dallas so through all of this I discovered that different states have different laws. Some states require creditors to accept payment of all arrears and fees and not repo or release a repoed car, while other states can call the note due and come take the car if they want to.

      Just another example of a creditor kicking someone when they are down, but in the long run they lost out.

      Reply
  7. In my experience the bank does not want your car at all. Most financial places will work with you to try and get something done. They need to get their money back and hiring someone to repo your car, then auction, plus the costs with everything and time, they don’t want the hassle. Just make an attempt and see what they can do for you

    Reply
  8. In my experience the bank does not want your car at all. Most financial places will work with you to try and get something done. They need to get their money back and hiring someone to repo your car, then auction, plus the costs with everything and time, they don’t want the hassle. Just make an attempt and see what they can do for you

    Reply
  9. the best way to know when toyota has set your car out for reposession is to sign up for the online account access. when they set your car or truck out for reposession your online account access will be blocked. and it will give you the “you are not authorized please call ###-###-####” error thats how you know it was moved into repo status. and they would assign it to a repo company.

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  10. the best way to know when toyota has set your car out for reposession is to sign up for the online account access. when they set your car or truck out for reposession your online account access will be blocked. and it will give you the “you are not authorized please call ###-###-####” error thats how you know it was moved into repo status. and they would assign it to a repo company.

    Reply
  11. So, how many months late were you when they took the cars and did you receive a cure notice? I am 27 days late today and was 45 last month (that is the latest I have ever been) and they sent me a notice. I made a payment and it took me down to 20 some days late.

    I didn’t make the requested payment that they wanted to cure the default but I took it down to under 30. Now, I requested an extension, which they said was approved. But we will see if it goes through. I now am almost 30 days late and if the extension goes through by the 22nd, I will be 1 day late on the July payment. If it doesn’t go through, I can’t make a payment until the 1st, so I will be 41 days late but it will take me down to 11 once I make the payment! I AM FREAKING OUT!

    Reply
    • Hi Morgan,

      Your story sounds very much like mine.  I am facing the same situation.  Received an extension and cure letter same day.  Filled out extension sent it in and made payment.  It has posted but not processed yet.  Falling into the 15 day on the cure letter.  CSR keep telling me the extension cancels out the letter.  Still see both payments due even one has posted. FREAKING OUT!!

      Reply
  12. My toyota tundra was repoed also . I was laid off from work recently , and due to the fact I am a contractor , I had no income coming in . I made 16 payments on time every time . I made arrangements with Toyota to resume my payments since I was recently employed again . Toyota repoed my truck before the deadline of the new aggreement . They came in the middle of the night and took my truck without any notification that the were taking it . When I awoke the next morning and realized my truck was gone , I immediatley contacted Toyota . They informed me that they dont make arrangements , and refused to tell me where my truck was so that I could get my personal belongings . So if you deal with Toyota Financial , please beware .

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  13. My Toyota was repossessed once and it was very difficult getting it back…. i have been out of work even before the first time now on the verge of it happening again… If you cant sign on to the online billing and they request you to call…be on the look out they will be picking your car up very soon… Make sure you call them .. They will work with you.

    Reply
  14. My Toyota was just towed (repossesed) The guy said I was 3 months behind. I was getting calls but I ignored them. I was about to send a payment and give them a call. Tomorrow I have to follow up with them to see what I have to do to get my car back.

    Reply

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