Toyota Financial Services Remains in Toyota Recall Lawsuit

Toyota Financial Services remains entwined in the massive Toyota sudden acceleration class action litigation currently pending in federal district court. A Massachusetts couple named Toyota Motor Credit Corp (which together with Toyota Motor Corp is called Toyota Financial Services or "TFS") as a defendant in their class action lawsuit.  The basic theory behind their allegations is that because the value of their Toyota Avalon was artificially high due to the undisclosed defective condition that led to the sudden acceleration problems, then the amount of their financing was also artificially inflated.

In a related story, Kelley Blue Book reported that it had seen a decline in new car transaction prices for 2010 Toyota Prius. For that reason, Kelley Blue Book adjusted its New Car Blue Book transaction value down by $1,000 to $1,500 for 2010 Prius. Kelley Blue Book also decreased the used-car values of previously recalled Toyota models in response to the slowing demand for Toyota models in the marketplace following the Toyota accelerator recalls.

The Massachusetts couple that filed the class action lawsuit against Toyota Financial Services are being represented by Finkelstein Thompson and Phillips & Garcia, P.C.  In their lawsuit, they allege that they bought their 2008 Toyota Avalon from a Toyota dealer in April 2009 and financed it with Toyota Motor Credit Corp. They later experienced incidents of sudden acceleration and underwent Toyota's attempted "fix" of the problem. Because Toyota Motor Credit Corp. provides financing options for Toyota customers, the couple allege that Toyota encourages customers to finance with Toyota Financial Services.

If you financed your Toyota car with Toyota Financial Services and are subject to the Toyota recall, the class action attorneys at Phillips & Garcia, P.C. want to hear your story. We are committed to protecting your best interests and helping you collect the damages that you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule a FREE legal consultation or call us toll free at (877) 892-5620.