GJ
Grant J
1 reviews | Active since Jun 2011
16 Dec 2025, 16:39
Unhappy Client
I requested settlement figures on two vehicles that had Original Capital Balances of less than R250K and received Settlement Letters indicating 3 months penalties on Interest for early settlement - Since this is considered a small loan in terms of the Financial Credit Act no penalties can be app**** if settled early. I queried TFS of this and received an Automated a reply indicating that it I would get a response with in 48hours. This was on the 2nd of December & I am still waiting on a response even though I followed up a few days later. TFS you can do better than this :-(
Helpful (0)
Replies (2)0
Replies (2)
Toyota Financial Services (TFS)'s replyOfficial
17 Dec 2025, 08:15Dear Grant Jones,
We have received and reviewed your Hello Peter post. Our Customer Resolutions Team has logged a formal complaint which has been routed to the relevant department for investigation and resolution.
We will be in touch with you to resolve this matter.
Regards,
Toyota Financial Services Resolution
We have received and reviewed your Hello Peter post. Our Customer Resolutions Team has logged a formal complaint which has been routed to the relevant department for investigation and resolution.
We will be in touch with you to resolve this matter.
Regards,
Toyota Financial Services Resolution
Toyota Financial Services (TFS)'s reply17 Dec 2025, 08:15
Official
Dear Grant Jones,
We have received and reviewed your Hello Peter post. Our Customer Resolutions Team has logged a formal complaint which has been routed to the relevant department for investigation and resolution.
We will be in touch with you to resolve this matter.
Regards,
Toyota Financial Services Resolution
We have received and reviewed your Hello Peter post. Our Customer Resolutions Team has logged a formal complaint which has been routed to the relevant department for investigation and resolution.
We will be in touch with you to resolve this matter.
Regards,
Toyota Financial Services Resolution
GJ
Grant J's updateReviewer Update
22 Dec 2025, 16:36I was contacted by Banda from TFS who informed me that my contract being less than R250 was signed outside the NCA. I explained to him that ALL Credit Agreements must comply with the NCA regardless of the value. He then tries to tell me that I wasn't being Penalized for the Early Settlement but simply was paying an "Early Termination Charge" which in my opinion amounts to the same thing. I will take this up with the Banking Ombudsman as TFS have not seen reason.
GJ
Grant J's update22 Dec 2025, 16:36
Reviewer Update
I was contacted by Banda from TFS who informed me that my contract being less than R250 was signed outside the NCA. I explained to him that ALL Credit Agreements must comply with the NCA regardless of the value. He then tries to tell me that I wasn't being Penalized for the Early Settlement but simply was paying an "Early Termination Charge" which in my opinion amounts to the same thing. I will take this up with the Banking Ombudsman as TFS have not seen reason.