TORRANCE, Calif. — Toyota Financial Services has announced the launch of the Toyota Rewards Visa, a new consumer credit card. Cardmembers will earn Toyota Rewards Points that can be redeemed toward parts and accessories, an eligible vehicle lease or purchase, or service from participating Toyota dealerships.

In launching the card, Toyota noted that nearly 18 percent of the average American's income is spent on transportation each year, with the majority going to car ownership and maintenance (U.S. Bureau of Labor Statistics' Consumer Expenditure Survey). The new card will allow the automaker's customers to turn everything they buy into Toyota Rewards Points redeemable toward service, parts, accessories or an eligible vehicle purchase or lease at participating Toyota dealerships, according to Mike Wells, group vice president of Toyota Financial Services.

"TFS is extending its line of financing products to U.S. Toyota customers and dealers with the new rewards credit card option," Wells said. "Toyota consumers are incredibly loyal, and we’re rewarding them by offering another smart financial management tool to help them get more out of their Toyota relationship. At a time when many consumers require extra saving and spending power, the Toyota Rewards Visa is the card that gets them more. Qualified consumers can obtain a card and redeem rewards earned through everyday purchases and use them on their Toyota vehicles."