PLANO, Texas -

When Mazda vehicles roll over the curb at one of the automaker’s franchised dealerships, there’s now a likelihood the preceding floorplan and newly signed retail installment contract or vehicle lease likely will be connected to Toyota.

According to a filing with the Securities and Exchange Commission posted on Wednesday, Toyota Motor Credit Corp. said it entered into a financial services agreement with Mazda Motor of America. As part of what the Toyota captive said was the start of “preparations to launch private label finance services for third-party automotive and mobility companies,” the company and certain affiliates will offer exclusive private label automotive finance, lease, and wholesale dealer financing products and services and vehicle protection products and services to Mazda customers and dealers in the United States.

Toyota indicated in the SEC filing that all of these initiates are launching at various times through the 2021 fiscal year.

Toyota explained the initial term of the program extends five years from the date of the last product launch under the program (currently estimated to be Dec. 31, 2025), and is followed by automatic one-year renewals, unless either company provides notice of non-renewal. 

“The company’s obligations under the agreement include the provision of services in the areas of customer service, field sales, customer collections, tax collection and remittance, payment processing, titling, marketing and vehicle remarketing,” Toyota Motor Credit said in the filing.

“The company’s extension of dealer and retail financing and services to Mazda customers and dealers will be provided in accordance with the company’s applicable credit policies, which may be modified by the company, from time to time, in its sole discretion,” Toyota continued.

“The company intends to leverage its existing servicing platform to provide customer service for the newly originated assets and expects to make certain technology investments to support the program,” Toyota went on to say.

“The company will not be acquiring any existing Mazda assets or liabilities pursuant to the agreement,” Toyota added.