Overview
Litigation Lending is funding a class action against Toyota Finance Australia, being run by Echo Law, on behalf of persons who obtained Toyota finance through a car dealership.
The class action alleges that, between 2010 and 2018, there was an undisclosed “flex commission” arrangement between Toyota Finance Australia and its dealerships, which encouraged those dealers to inflate the interest rates on loans they arranged for their customers. This conflict of interest was never disclosed to customers and resulted in customers paying significantly higher interest charges than would otherwise have been the case.
The Flex Commissions class action seeks to recover the additional interest fees paid by Toyota Finance customers and is based on allegations that Toyota Finance’s conduct was misleading, deceptive, and unfair.
Toyota Finance customers who entered into dealer loans between 1 January 2010 and 31 October 2018 can learn more about the class action and register their interest in being updated as it proceeds on the following link:
This class action is being case managed together with the Add-on Insurance class action described here.
