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TFS Increases Online Loan Applications

December 6, 2004

Toyota Financial Services is seeking to boost its number of credit applications through the Internet.

The company has increased that number by 23 percent since the beginning of 2004, said Chris Conard, TFS´s national e-business manager. It received approximately 58,000 auto financing applications online in the first nine months of 2004, compared to about 45,000 over the same period last year, reported Auto Finance News.

"The biggest way to attract customers is through Toyota or Lexus´s Web sites," Conard said. The Toyota site featured TFS banner ads and redirected customers to TFS´s site when customers clicked on its "Estimated Payment" link.

The TFS Web site had over 800,000 visitors this year. The company expects that a site redesign to be completed in March 2006 should double the number of online loan applications.

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