Toyota Car Payment Relief

Lenders and Auto Loan Relief Programs

Toyota recognizes the incredible financial burden that the COVID-19 pandemic has placed on the shoulders of many of its customers. This financial burden is caused by several substantial factors, including expensive medical bills, layoffs, and more. If you are included in this group and need relief from your Toyota auto loan payments in the months ahead, Toyota Financial Services may provide the help that you need.

How is Toyota Financial Services Assisting Customers?

Toyota Financial Services is providing its valued customers with two forms of loan relief. You may request a deferment or a payment extension for your Toyota loan. The lender will determine the specific assistance that you may receive upon request after a review of your account history and other factors.

End of Lease Options

If you are in the middle of your lease and challenged by the payments, you may request a deferment or an extension on your payments. The pandemic may also impact your end-of-lease plans. If you are at the end of your lease and want to return your car to the dealer, you can contact your Toyota dealership directly for assistance. If you intend to maintain possession of your vehicle and are not yet ready to pay off the balance with cash or with an auto loan, you can request a short-term lease extension.

Loan Deferment FAQs

What is a Toyota Loan Deferment?

A deferment on your loan or lease must be made formally by contacting Toyota Financial Services, and your request will be reviewed and approved on a case-by-case basis. Through a deferment, Toyota Financial Services allows you to skip all of the lease or loan payments during the specified deferment period. Your loan or lease term will be extended, and you will make up the missed payments during that extension period.

How Will a Toyota Loan Deferment Affect My Credit Score?

As long as the deferment request has been approved by Toyota Financial Services, your account will remain in good standing. This means that the deferment will not impact your credit rating. However, you must still make timely loan or lease payments before and after the approved deferment period.

How Do I Request a Toyota Loan Deferment?

You must contact Toyota Financial Services directly to request a lease or loan deferment or payment extension. Because of high call volume, you may receive faster service through an online support request.