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.
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. 🤣