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Toyota Financial won't accommodate GW - advice?


Agen2integra
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The last post in this topic was posted 949 days ago. 

 

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On Jan. 22nd, i emailed R. Carter (one of the c suite execs at TFS that i searched earlier on) regarding a GW for 7 30-day lates that I had from 2014-2016 for a leased vehicle i once had. Last week I missed a phone call from someone in the executive services department that left me a message to call them. I've phoned this person back several times with no answer and left a few messages. Just yesterday i received a letter from TFS, and the individual that left me the message, "A Cervantes", that they are unable to accommodate my request. Included in the letter was a spreadsheet of the account history reflecting the payments and dates.

 

Any advice? Should I keep moving on or try again? 

 

I read that others were able to get these removed once someone called them, I guess my luck doesn't go that far.

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SEVEN on a three year lease is practically a 20% delinquency.  Very few executive offices are going to cut someone THAT much slack. 

 

Goodwill approaches are something that, if it is going to work, is going to be the long-term customer that had a single (or perhaps two) instances but is otherwise ALWAYS current, and where there is a realistic expectation of the company continuing to make money off of the customer for many more years.  Where someone is seeking goodwill on a lease, the executive is apt to look and see if the individual has CONTINUED to remain a customer.  Someone that abandoned the company and went elsewhere is not apt to get the courtesy...it's just business.  They want some quid for the pro quo.  But even at that, there is usually nowhere near enough quid to cover the pro quo to cover seven late payments even if the customer had subsequently gone on to lease whatever the top-end model is AND also bought something (also at the top end).  

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On 2/16/2020 at 8:13 AM, Agen2integra said:

On Jan. 22nd, i emailed R. Carter (one of the c suite execs at TFS that i searched earlier on) regarding a GW for 7 30-day lates that I had from 2014-2016 for a leased vehicle i once had. Last week I missed a phone call from someone in the executive services department that left me a message to call them. I've phoned this person back several times with no answer and left a few messages. Just yesterday i received a letter from TFS, and the individual that left me the message, "A Cervantes", that they are unable to accommodate my request. Included in the letter was a spreadsheet of the account history reflecting the payments and dates.

 

Any advice? Should I keep moving on or try again? 

 

I read that others were able to get these removed once someone called them, I guess my luck doesn't go that far.

As @cv91915 said "I would ask anyway" 

I mailed a goodwill letter to the CEO of Toyota North America himself (Michael R. Groff) twice (1 times in 2018 and 2017) and I got a nice mailed letter from his office that says "No, We Can't do it unless its an error". Give it a try and you never know. but I personally gave up and carried on.

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On 2/17/2020 at 10:43 AM, centex said:

SEVEN on a three year lease is practically a 20% delinquency.  Very few executive offices are going to cut someone THAT much slack. 

 

Goodwill approaches are something that, if it is going to work, is going to be the long-term customer that had a single (or perhaps two) instances but is otherwise ALWAYS current, and where there is a realistic expectation of the company continuing to make money off of the customer for many more years.

 

Absolutely,  Still, while entering a goodwill request positioned as a prospectively profitable customer is a "feather in the cap", I'll suggest that success still largely demands that the recorded delinquency pass a reasonable test.

 

A grantor of goodwill will likely look for some evidence that the delinquency reasonably occurred due a hardship experience AND that there's a reasonable expectation that the circumstances won't give rise to delinquency again down the road (in other words, the delinquency is a one time, unlikely to be repeated, event).

 

In a credit environment that is increasingly resistant to goodwill adjustments, I don't think a request submitted without a compelling rationalization of the event will be successful.  (Preferably a short and succinct one.)

 

centex is no doubt correct in suggesting that a record of seven 30-day late payments isn't going to pass the "reasonableness" test, short of circumstances of extended hardship.  ("My home was heavily damaged by a hurricane; I had to relocate into temporary living quarters for 6 months, during which time I kept up with responsibilities as best I could, but unfortunately this hardship got the "better" of me for awhile.  (If helpful, I can document the events I describe, on request.)"

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