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Southeast Toyota Finance / World Omni Bank / JM Family Enterprises

I purchased a 2008 Jeep Liberty from Gatorland Toyota in Gainesville, FL in 2010. I have made all my payments on time and have the bank statements to prove this fact.

On Friday, August 5, 2011, my vehicle was repossessed by Southeast Toyota Financing / World Omni Bank / JM Family Enterprises (SETF) without any warning from SETF by mail.

Due to the fact that this is my primary mode of transportation, I have made every attempt to retrieve my vehicle from the repossession company including paying the supposed "past due" amount, obtaining 3 additional personal references in addition to the references from the original application, and having my insurance company send a declaration that I have current full protection on the Jeep.

This was all completed on Monday August 8, 2011. I was told that I should have my vehicle back in my possession no longer than 48hours.

I called on Tuesday the 9th to check the status of the release and was then informed that there was an issue with the insurance information. This issue being, it was all correct except they wanted a certain address to be listed with the insurance. Since this wasn't ever mentioned to me before, I then had to call my insurance and give them the new address for SETF, after being told that it could be another 48 hours until the vehicle is released.

After having my insurance send the corrected information, I then called back and explained that this was causing an unnecessary hardship and that I should have my vehicle back no later than the next day, August 10, 2011.

Today (08/10) I called at the time I was told to call to get the release information from SETF, and then was told that they never received the information from my insurance company. After again calling my ins. Company to resend the information, I called back to verify that they had received it. Again I was told it was never received. When I asked to speak to a supervisor, suddenly the fax machine was checked and there was the requested documents.

I was then told that another department would have to review the documents and that it could take up to an additional 48hours to due so, because "I" didn't have the correct information sent in the first place.

To the main issue of this complaint:

The reason that my account was sent to collections and then my vehicle was repossessed was because of a practice performed by SETF that I have never heard any other, honest, legitimate company performing. Even though I made my payments for every single month, never missing a single payment and being only 2 days late once, I was informed by SETF that if I pay one week or more before the due date of my payment, that said payment will not be counted against the payment that was due. Instead it will be applied towards the balance of my lien, leaving the due amount listed as "unpaid."

After reviewing my bank statements and checking that all payments were received, I counted that on six occasions, my payments, according to SETF, were not made at all because I chose to make my payments before the 7 day due date window.

Even though I have made a good-faith effort to keep my account current and in good standing because of promises that after the lien matured for a year, I would be able to re-finance for a better APR, instead I now find myself being forced to make payments that I shouldn't have to make, having no car, and getting a headache every time I call and try to get a resolution.

It has become very obvious that this is a company that hires it representatives based on their outstanding ability to be as unhelpful, impolite, and unable to make any effort to at least fake some degree of sympathy to the high levels of inconvenience and grief their company has inflicted upon a customer.

I am going to make every effort to get out from under this company, but it should also be noted that they have ruined my credit, so there is no telling what future gifts SETF is going to bestow upon me.

If you are looking for a car, and you happen to be somewhere that offers financing through Southeast Toyota Financing / World Omni Bank / JM Family Enterprises, either go somewhere else or try to get financing through your own bank.

If you currently have an account that is in good standing with SETF, get out! Re-Finance with someone who can be trusted. There are a lot of good resources out there, just do your research before you make a decision.

Considering that Toyota's are such good vehicles, I hate to say that it may be best to pass up a Toyota dealership altogether. If they allow a financing company to operate in this manner, then what tricks do they allow the dealers to get away with? What tricks do the Toyota service shops pull to get that extra dollar?

I wouldn't wish this headache upon my worst enemy. At least take what I have experienced from my mistake of financing through SETF so that you can learn from my mistake and not get caught up in their fraudulent money making trickery.

Location: Boston, Virginia

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Guest

I'm glad I read this this morning. I was going into a Toyota dealership this morning to ink a deal with THIS finance company issuing my loan.

NO THANKS!

I pay my other debts several weeks before they are due. If this company is going to punish consumers in THIS economy by doing this ***, I want no part of it. A Ford Fusion or a Chevrolet Malibu are just as good as a Camry...

so again, NO THANKS!

And thank you for posting this!

Guest

Toyota is Toyota. Now, If I open a business I can have Toyota inn it?

I think not. They have affiliations. If Toyota continues to do business which I know they will then they are okay with this!

Say what you want the "independent" is a baloney answer. They represent toyota directly or indirectly ;)

Guest

Don't waste your time calling them! All they do is listen and point the finger at someone else! Lesson to be learned don't buy Toyota

Guest

Dear Mr. Smith,

My name is Terry Kaufman and I work for Southeast Toyota Finance. If it would be helpful, I would be happy to review your account personally.

Due to privacy laws, I will not be able to discuss your account details in a public forum. Please call me directly at 251-639-**** if I can be of any assistance.

Guest

Yes, toyota is cheap and lacks class!! With the economy in a rutt lets stay RED, WHITE, and BLUE go FORD or CHEVY!!! Toyota did several numbers on me 2!!!

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