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This month, Toyota Financial Services (TFS) surpassed the $100 billion mark for the financing of automotive-related retail and lease contracts, the company announced on April 25.
Since opening its doors in 1983, TFS has grown from a small company with eight associates to become the third largest captive finance company, and the ninth largest finance company
in the United States. TFS currently employs more than 2700 associates nationwide, and has managed assets totaling $32 billion.
"The foundation of our success has been the ability to provide consistent, long-term support to our dealers, as well as provide quality products and service to our mutual customers," said George Borst, president and CEO of Toyota Financial Services. "In addition, our continued growth has been a result of making
ongoing changes to meet new business opportunities."
About Toyota Financial Services (TFS)
The Toyota Financial Services of today started its humble beginnings as Toyota Motor Credit Corporation (TMCC). It incorporated in California on Oct. 4, 1982, and commenced
operations in May 1983 by approving a loan for a used Toyota Corolla in Denver, Colo.
The company continues to provide retail and wholesale financing, retail leasing and certain other financial services to authorized Toyota and Lexus dealers and Toyota Industrial Equipment dealers, Toyota Marine Sports dealers, affiliates and their customers in the United States (excluding Hawaii).
TMCC is part of the worldwide financial services operations for Toyota Financial Services Corporation (TFSC), which is a wholly
owned subsidiary of Toyota Motor Corporation (TMC) in Japan.
Currently, there are 32 branch offices in various locations in the United States, one branch office in Puerto Rico, three regional
offices and a centralized customer service center in Cedar Rapids, Iowa.
Toyota Motor Insurance Services, Inc. (TMIS) was established in 1986 as a subsidiary of TMCC. TMIS provides vehicle protection plans and insurance products to authorized Toyota and Lexus dealers and Toyota Industrial dealers, affiliates and their customers in the United States (excluding Hawaii). Currently, there are six regional offices in various locations in the United States. All administration and customer service functions are handled by the Toyota Financial Services Center in Cedar Rapids, Iowa.
The Toyota Financial Services (TFS) brand identity was launched in December 1999. TFS is a service mark that acts as an umbrella for marketing both finance and insurance products
under one name.
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