Celebrating 40 Years
Then and Now
ICYMI (In Case You Missed It): Toyota Financial Services is 40!
The ‘80s and Toyota Financial Services (TFS) are having a big moment. As a matter of fact, back in the day your friends at TFS were up to some pretty amazing stuff. It’s when we got our start!
Flashback to October 1982: Skinny ties with piano keys? Everywhere you looked. Day-glow leg warmers? Totally awesome. The number one movie in the nation was ET: The Extra Terrestrial. Olivia Newton-John was belting out “Let’s Get Physical,” wearing plenty of blue eyeliner and Nicholas Cage was starring in the cult classic movie “Valley Girl.”
Meanwhile, seven Toyota team members came up with a ‘most excellent’ idea that would revolutionize the way legions of Toyota owners would finance their vehicles: thus, the birth of Toyota Financial Services.
Early on the company was called Toyota Motor Credit Corporation (TMCC) and within months, the team financed their first vehicle, a used Toyota Corolla sold by Burt Toyota in Denver, Colorado. From that point forward, it was (and is) all about making your relationship with Toyota easy, convenient, and one that reminds you that you’re part of the TFS family. The ‘80s continued to be big for TFS—in 1984 we opened our first branch office in Irvine, California, and in 1986 we expanded our product lineup with the launch of Toyota Motor Insurance Services (TMIS).
The nineties were all about minimalism in fashion, grunge in music and innovation at TFS. Lexus Financial Services was established in 1991; we jumped full-throttle into the digital age in 1998 with the launch of our first online credit application and in 1999 Toyota Motor Credit Corporation and Toyota Motor Insurance Services created the umbrella brand we know and love today—Toyota Financial Services (TFS).
Y2K ushered in texting and instant messaging using new and old abbreviations: LOL, ROTFL, SMH, and TMI. Boy bands and Britney Spears ruled the airwaves and TFS was rocking the Internet. In 2001, the toyotafinancial.com website launched and the next year lexusfinancial.com launched. Then in 2004, TFS’ partner entity, Toyota Financial Savings Bank (TFSB), began operations. By 2007 the company grew to more than 3,000 team members.
In 2013, TMCC issued the auto industry’s first Diversity & Inclusion (D&I) Bond, underscoring that Toyota’s commitment to diversity and inclusion permeates all aspects of its business; in 2014, TMCC led the way again by issuing the auto industry’s first asset-backed Green Bond. We also launched customer-friendly projects like the TFS app for iPhone and Android, a convenient one-stop shop for all your auto-financing needs.
In 2017, TFS made a big move, relocating its headquarters to Plano, Texas, partnering with Toyota Motor North America, and in 2019 we rolled out private label financing with Mazda as our first client.
Today, as we stream our way through the roaring 2020s, we continue to innovate, finding new ways to make Toyota ownership even easier, with new ways to communicate – using our mobile web support and app – bumper-to-bumper vehicle protection plans, and loads of online resources on everything from whether to lease or buy to tips on cleaning up your credit. And we’re just getting started—there’s so much more to come.
Toyota Motor Credit Corporation—which operates under the brand names of Toyota Financial Services, Lexus Financial Services, and Mazda Financial Services in the United States—enters its 40s in style: currently helping nearly 5 million of our favorite people slide into new rides and we’re helping ten million protect their vehicles with voluntary protection product agreements. Sweet!
For more information, please visit:
Toyota Newsroom: Toyota Motor Credit Corporation Celebrates 40th Anniversary
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