East West bank offered us a car loan at a low rate but since no available unit from the dealer we have transacted with, we tried to locate another agent to source out a unit for us. The agent offered that the loan be made at Toyota Financial Services Philippines. We agreed just as long as they can give us the rate East West Bank was offering. The agent was the one communicating and coordinating with Toyota Financial. The agent told us that Toyota Financial is offering that our last monthly amortization will be waived instead. The term was 36 months or 3 years to pay and we issued 35 post dated checks but when all the 35 checks cleared, Toyota Financial informed us that we still lack one and last payment and demanding us to pay.
I told them what was agreed upon before availing the loan but they are now denying it.
What can and should we do? They are not gonna release the original CR of the car unless we pay the last monthly amortization which is a little bit huge amount. Please help us, we are not that rich and such amount means a lot to us. Thank you in anticipation for your legal advice