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Mazda Turns to Toyota for Captive Financing


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https://www.autodealertodaymagazine.com/358021/mazda-turns-to-toyota-for-captive-financing?utm_source=email&utm_medium=enewsletter&utm_campaign=20190902-NL-ADT-Enews-BOBCD190827012&omdt=NL-ADT-Enews&omid=1000693576

 

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WASHINGTON — Toyota Motor Credit Corp. will replace Mazda Capital Services as the captive consumer loan and lease financing company for U.S. Mazda dealers, according to a report filed with the Securities and Exchange Commission Wednesday.

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1 hour ago, hegemony said:

interesting; what I find odd is that TFS no loonger issues the Toyota visa (comenity does IIRC). ETA: that is, if you want to be a full service lender, why not keep your visa product in-house?

Probably didn't want the losses associated with a retail credit card. GM and Ford didn't use their credit arms to back their branded plastic. I forget who did GM's but Ford's was Citibank. Then there's BMW who IS backing their own plastic through their Utah domiciled Industrial Loan Company.

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12 minutes ago, IndyPoolPlayer said:

Probably didn't want the losses associated with a retail credit card. GM and Ford didn't use their credit arms to back their branded plastic. I forget who did GM's but Ford's was Citibank. Then there's BMW who IS backing their own plastic through their Utah domiciled Industrial Loan Company.

BMW sold it's visa portfolio to US Skank.  SAD!

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  • 3 months later...
On 9/2/2019 at 6:57 PM, IndyPoolPlayer said:

Probably didn't want the losses associated with a retail credit card. GM and Ford didn't use their credit arms to back their branded plastic. I forget who did GM's but Ford's was Citibank. Then there's BMW who IS backing their own plastic through their Utah domiciled Industrial Loan Company.

Crap 1 issues GM Buypower Card.

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