I can almost see this happening by accident, depending on how silo’d Toyota Financial services is, how automated its systems are, and how much the final payoff was. Overworked data processor sees something that looks like it might be a payment, issues the letter “subject to a final accounting and receipt of good funds,” and sends it along. Maybe the next group is behind, or final payments bounce rarely enough that it’s not an automated process to retract the payoff letter. So then whoever is responsible for sending out clear titles just sees the payoff letter and doesn’t know that the payment never cleared, so they click a button that puts SovCit’s title in the next batch. Meanwhile, finance itself is chugging along, probably just added an NSF fee and late fees to the increasingly overdue payments. SovCit is smug in how they paid off their car using their free money account from their IRS trust and is now deleting or tossing all correspondence from Toyota, who probably also can’t be arsed to send someone out to re-po this shitbox they may already have made a profit on. Congratulations, world, the SovCit now thinks they did a thing.
Years ago, a friend had an amazing fuck up. They brought a brand new car. It actually worked out cheaper to get a year’s interest free finance on it.
A year later, they went in (yes it was that long ago) to pay off the balance. What followed was a confusing conversation where they insisted they owed money, while the dealership insisted they didn’t. They eventually realised the insanity, and instead asked for confirmation. They happily provided documentation that the car was fully paid off.
They kept the money in a high interest savings account for a few years. They never actually paid the rest of the balance, and were never chased about the money. Eventually, the money paid for a family holiday.
Yeah my uncle had a similar thing happen to him except he wasn’t smart. Eventually the company in question worked out that the amount of money they thought they should have, was not the same as the amount they actually had, and did an audit, and worked out what had happened. But by this point my uncle had spent the money, because he’s an idiot.
Keeping it in a high interest savings account is a good way of having your cake and eating it, even in the case that they end up chasing for the money.
I can almost see this happening by accident, depending on how silo’d Toyota Financial services is, how automated its systems are, and how much the final payoff was. Overworked data processor sees something that looks like it might be a payment, issues the letter “subject to a final accounting and receipt of good funds,” and sends it along. Maybe the next group is behind, or final payments bounce rarely enough that it’s not an automated process to retract the payoff letter. So then whoever is responsible for sending out clear titles just sees the payoff letter and doesn’t know that the payment never cleared, so they click a button that puts SovCit’s title in the next batch. Meanwhile, finance itself is chugging along, probably just added an NSF fee and late fees to the increasingly overdue payments. SovCit is smug in how they paid off their car using their free money account from their IRS trust and is now deleting or tossing all correspondence from Toyota, who probably also can’t be arsed to send someone out to re-po this shitbox they may already have made a profit on. Congratulations, world, the SovCit now thinks they did a thing.
Or the Facebook post is a fake, LOL. 🤣
I’ve seen weirder things happen.
Years ago, a friend had an amazing fuck up. They brought a brand new car. It actually worked out cheaper to get a year’s interest free finance on it.
A year later, they went in (yes it was that long ago) to pay off the balance. What followed was a confusing conversation where they insisted they owed money, while the dealership insisted they didn’t. They eventually realised the insanity, and instead asked for confirmation. They happily provided documentation that the car was fully paid off.
They kept the money in a high interest savings account for a few years. They never actually paid the rest of the balance, and were never chased about the money. Eventually, the money paid for a family holiday.
Damn that’s amazing and smart by him on all accounts. Had his bases covered just in case and the money saved.
She, but it was definitely played well. They were honestly expecting a call to sort out the mix up. It just never came.
Yeah my uncle had a similar thing happen to him except he wasn’t smart. Eventually the company in question worked out that the amount of money they thought they should have, was not the same as the amount they actually had, and did an audit, and worked out what had happened. But by this point my uncle had spent the money, because he’s an idiot.
Keeping it in a high interest savings account is a good way of having your cake and eating it, even in the case that they end up chasing for the money.
FYI Humans aren’t real.