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Mazda Turns to Toyota for Captive Financing

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.

Tariq Kamal
Tariq KamalFormer Associate Publisher
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August 29, 2019
Mazda Turns to Toyota for Captive Financing

Toyota Motor Credit has replaced JPMorgan Chase as Mazda’s captive finance company for U.S. dealers.

Photo courtesy Mazda Motor America

2 min to read


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.

Mazda Capital Services is the marque created by JPMorgan Chase in April 2010, more than a year after Chase became Mazda’s exclusive financing provider.

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“The intent of this partnership is to provide enhanced financing and protection options for customers and dealers,” Jeff Guyton, president of Mazda North American Operations, told Automotive News. “Chase has been a great partner for Mazda for the last 10 years, and after a thoughtful review of many options, it was clear TFS can best meet Mazda’s business needs moving forward. Their deep knowledge of financing within the auto industry will be a good fit for our dealers and customers.”

The SEC filing makes frequent use of the term “private label” but does not specify whether Toyota Motor Credit will provide financing and F&I products under its own trade name, Toyota Financial Services, adopt the Mazda Capital Services brand, or come up with another name.

"After a thoughtful review of many options, it was clear TFS can best meet Mazda’s business needs moving forward."

The filing notes that Toyota Motor Credit will buy loans and leases “in accordance with the Company’s applicable credit policies, which may be modified by the Company, from time to time, at its sole discretion.”

The rollout is expected to begin sometime after Oct. 1 and conclude by year’s end. An initial five-year term will be followed by automatic one-year renewals unless and until either company seeks to end the agreement, which follows a series of partnerships on the manufacturing side.

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“Mazda and Toyota are collaborating in carefully selected areas of our business where there are benefits for both partners, such as development of electric-vehicle architecture in Japan, or our joint manufacturing project in Alabama,” Guyton told AN. “Sales finance operations in the U.S. presented another opportunity for synergy.”

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