Lease extensions are very common around here. Some manufacturers work differently with them than others. With infinity, a friend of mine kept it for months afterwards and they just continued monthly without any new documents.
Its possible he just assumed that it would work that way.
He did recently receive a call from tfs saying that if he didn’t officially extend they would come for the car, but they didn’t mention that it wasn’t being paid.
Whatever happened, happened. Question is how do we fix it.
Interesting, I would have assumed after a few weeks and the vehicle not turned it they would be more aggressive trying to recover it.
Like the first reply said you’ll have to get in touch with TFS and work it out. I’d just be honest with them and hope for the best, extend the lease officially and pay it current and request they remove the negative items on his credit. If he had autopay set up for the duration on the original lease he should have a perfect payment history with them before this debacle.
If they won’t remove the negative items at first you can keep trying, send goodwill requests, etc. Sometimes it your persistent enough someone will eventually approve it. Good luck keep us posted I’m curious how it plays out.
I guess so is oxygen? Where is here, and what makes them common?
People frequently (not always) get one when they ask.
I’m actually shocked they didn’t send a tow truck already. Those are common around here.
Your friend fixes it by calling TFS and asking what options they have to clear up this misunderstanding, not asking a 3rd party to post on a message board to fix their failure to extend their lease. They’re in violation of the lease, and toyota isn’t mad or nitpicking three payments, they want their collateral that is worth the residual back. I suspect if we looked at your friends credit, the drop is not a late payment, it’s a repo. Good luck leasing another car after that.
My friend has no idea of any message boards lol. He asked me because he knows I know leasing a bit. Fortunately, and unfortunately for him I dont know much about repos
My favorite repo story is the guy who came in to a BMW store in his 5 series looking for a lower payment, and while test driving a 3 series BMWFS recovery called the >>GM<< and said “is this car there- now?!” Before the guy had come back from the test drive his 5 series was on a flat bed.
So he didn’t send the paperwork, didn’t get confirmation of the extension and didn’t notice the money wasn’t coming out of his bank account for 3 months? Besides all that TFS calls and TFS sends letters…
I know these things because I had the same situation happen to me but it took less than a week before I got the letter in the mail and TFS calling twice a day to both numbers I had on file, it didn’t take 3 months.
This is not “mad scientist who cannot tie their shoe”, this smells like “can’t make a decision and is hiding/avoiding”. I have a family member like this except she actually called and extended her lease ontime.
Your friend is SOL, Toyota is not going to bother going to try to fix your friends credit, he screwed up.
It costs money and time for a company to worry about a single individual who screwed up himself, not the company.
He needs to learn from his mistake and move on, I’m sure with just 100 points drop he will be fine unless he has some major stuff coming up that requires credit checks.
A lot of speculation here . As some said, he won’t know until he speaks to TFS. I would call a few times if one says not possible. Typically, these type of complex issues can be solved by people who can be willing to go extra mile for the customer.
Once the debt is clear you can try sending proof to credit bureaus. Did this with an old phone bill when I was buying the house, to my surprise, they removed it. However, the difference is that I didn’t owe that amount.
Entirely way too much speculation. OP’s friend needs t call TFS and resolve this issue. OP, let us know when your friend finds a solution and we will unlock. I am interested to see. Not enough fact to continue discussion.
collateral that is worth the residual back. I suspect if we looked at your friends credit, the drop is not a late payment, it’s a repo. Good luck leasing another car after that.
