Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.
The captive named Scott Cooks group vice president and chief risk officer and Cindy Wang group vice president of treasury.
The new protection is being offered as an added enhancement to the captives’ tire-and-wheel program and will be offered as a standalone product later this year. The product is being administered by Safe-Guard Products International.
Dealers using both RouteOne and Toyota Financial Services (TFS) will now be able to book TFS electronic contracts through a completely automated process, according to a RouteOne announcement.
The firm helping finance sources like Toyota Financial Services and Ally connect with car buyers online has expanded into two major markets. Officials say the expansion will aid the firm’s efforts to further penetrate the financial services industry.
According to proposed consent orders obtained by American Banker, Honda, Nissan and Toyota’s captive finance companies could soon be on the hook for dealer participation policies.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In