Mazda North American Operations Renews Agreement for Toyota Motor Credit Corporation to Provide Private Label Financing Under the Mazda Financial Services Brand Name
Mazda North American Operations (MNAO) has renewed its agreement for Toyota Motor Credit Corporation (TMCC) to provide private label financing under the Mazda Financial Services (MFS) brand name.
Launched in April 2020, MFS entered the market with a commitment to providing the best possible financing solutions coupled with exceptional service to Mazda dealers and customers. Created as a private label business by TMCC under an agreement to provide services to MNAO, Mazda Financial Services quickly established itself as a valued partner to Mazda dealers by offering a range of products to meet their wholesale and financing needs. Later in 2020, MFS continued to grow as Toyota Motor Insurance Services launched its comprehensive suite of vehicle and payment protection products under the name Mazda Protection Products (MPP). In the ensuing years, Mazda Financial Services enjoyed significant growth, supporting Mazda dealers and customers, and surpassing 1.6 million total finance and voluntary protection contracts booked.
MFS leaders attribute the business’s success to working closely with MNAO to provide solutions that enhance the customer and dealer experience. The company’s retail financing, leasing, and a comprehensive suite of vehicle and payment protection products are tailored specifically to meet the needs of Mazda customers and dealers while building loyalty to the brand. Now, with the contract renewal, the MFS team is redoubling their efforts to ensure Mazda’s success in the U.S. market.
“We’re grateful to Mazda North American Operations for giving us this opportunity to continue to support their financing and vehicle protection product needs,” said Brock Bayles, president of Mazda Financial Services. “We are proud to represent the Mazda brand and we share MNAO’s philosophy of placing paramount importance on taking care of customers and dealers. We know that we only succeed when Mazda dealers and customers are pleased with our products and service, and we fully intend to continue innovating to serve them better every day.”
“I appreciate the positive impact that the MFS team makes every day with our dealers, our field teams and with our customers,” said Mazda North American Operations President and CEO Tom Donnelly. “We’ve been able to grow thanks to MFS’s stability during uncertain times and I look forward to continued growth and the many benefits that Mazda Financial Services provides to the Mazda brand and especially to our valued customers.”
“MFS is an important part of our business, and we value MNAO’s trust in us to represent the Mazda brand, as well as deliver a top-tier experience to their customers and dealers. This is a responsibility we take very seriously,” said Scott Cooke, TMCC president and CEO. “We recognize that Mazda customers and dealers are unique in the market, and our MFS team is dedicated to providing the customized solutions which not only meet their needs but exceed their expectations.”
MFS’s positive impact on sales and customer loyalty has been recognized by Mazda dealers too. “The dealer network feels like MFS is the first true captive that we’ve had, and MFS has been a fantastic partner to our businesses,“ said Jimmy Scherer, former chairman of the Mazda National Dealer Advisory Council.
More information about Mazda Financing and Protection Products can be found at https://www.mazdafinancialservices.com
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About Toyota Motor Credit Corporation
Toyota Motor Credit Corporation (TMCC) operates in the United States to offer retail auto financing and leasing to customers through auto dealerships. TMCC has a range of products to meet dealers’ financing needs and also offers extended service contracts and other vehicle and payment protection products through Toyota Motor Insurance Services (TMIS) and its subsidiaries.
TMCC offers its finance and protection products to Toyota and Lexus customers and dealers using the Toyota Financial Services and Lexus Financial Services brand names. Through its private label business, TMCC also offers other finance and protection products under the brands of Mazda Financial Services and Bass Pro Shops Financial Services.
As of March 31, 2023, TMCC employed approximately 3,800 team members nationwide, and had assets totaling $137 billion. The company is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation.
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The trade name “Mazda Financial Services” and the Mazda and Mazda Financial Services logos are owned by Mazda Motor Corporation (Mazda) or its affiliates and are licensed to Toyota Motor Credit Corporation (TMCC). Retail installment accounts may be owned by TMCC or its securitization affiliates and lease accounts may be owned by Toyota Lease Trust (TLT) or its securitization affiliates. TMCC is the servicer for accounts owned by TMCC, TLT, and their securitization affiliates. Mazda Protection Products is a registered service mark of Mazda and licensed to Toyota Motor Insurance Services, Inc. (TMIS). Voluntary Protection Products are administered by TMIS or a third party contracted by TMIS. Mazda is solely responsible for its products and services and for promotional statements about them and is not affiliated with TMCC or its affiliates. Retail accounts and leases through Mazda Financial Services are subject to credit approval by TMCC.
About Mazda North American Operations
Mazda North American Operations is headquartered in Irvine, California, and oversees the sales, marketing, parts, and customer service support of Mazda vehicles in the United States, Canada, Mexico, and Colombia through approximately 795 dealers. Operations in Canada are managed by Mazda Canada Inc. in Richmond Hill, Ontario; operations in Mexico are managed by Mazda Motor de Mexico in Mexico City; and operations in Colombia are managed by Mazda de Colombia in Bogota, Colombia. For more information on Mazda vehicles, including photography and B-roll, please visit the online Mazda media center at News.MazdaUSA.com.
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