Toyota Motor Credit Corporation Consumer Loan Complaint

Toyota Motor Credit Corporation Consumer Loan department,

Vehicle loan Managing the loan or lease Maryland

I bought Lexus GS 350 car from a Lexus dealership in - MD in -/-/-. At the time of the purchase the dealership also sold me GAP insurance policy issued by Toyota Financial Services at a cost of around $700.00. This vehicle was involved in an accident on - -, - and as a result it was declared a total loss. -, the insurance company, paid $40000.00, a part of which was paid directly to - Bank to settle the outstanding loan against the vehicle. Between - - and - - I wrote - letters to " Toyota Financial Services - - -, - -, IA - '' to cancel the GAP policy and make a prorated refund because the vehicle is no longer in service. Each time they responded that since you have not furnished all the information, your claim can not be settled. This is wrong because they have been given all the information and documentation more than once. I am repeating all the information here for your ready reference : Toyota GAP Agreement Number - VIN # - - Loan Amount $51000.00 - outstanding loan paid by - $17000.00 ( The rest was paid by me ) There is no other information needed by - to settle my claim, yet they refuse to take any action. It is my contention that the GAP policy sold to me by Toyota Financial Services was an act of Financial FRAUD. They had no intention of paying anything if the vehicle in question met with an accident. Toyota behavior is in stark contrast to - which processed my claim within days of the accident. I want CFPB 's help in recovering the cost I paid for this GAP insurance coverage. Also I want the bureau to investigate Toyota for selling a fraudulent product to the consumers. Thanks.