In April, Toyota Motor Credit Corporation (TMCC) announced it had launched a private label financial services business commencing with the provision of services to Mazda North American Operations (MNAO) marketed under the brand Mazda Financial Services (MFS) to Mazda customers and dealers in the United States. Four months later, MFS continues to grow as Toyota Motor Insurance Services launches its comprehensive suite of vehicle and payment protection products under the name Mazda Protection Products (MPP).
“Our strategic business plan is to continuously transform and grow to serve our partners at Mazda North American Operations and Mazda dealers and customers,” said Karen Ideno, group vice president, sales, product & marketing, MFS. “We’ve tailored these products specifically for our Mazda partners to meet the needs of Mazda customers and build loyalty to the brand. We’re confident in the strategic value they will bring to Mazda dealers and are thrilled to continue to grow our partnership.”
Mazda Protection Products are supported by a dedicated customer loyalty team, whose focus is to inform and educate customers on the value of vehicle and payment protection products and support customer retention.
Mazda Protection Products include:
- Vehicle Service Agreements (VSA)
- Three varied plan types to protect owners from certain covered repair costs after the vehicle warranty expires
- Value-added benefits such as roadside assistance, travel protection, substitute transportation
- Prepaid Maintenance
- Plans for new and used vehicles to preserve safety, performance and resale value
- Key Replacement
- Covers up to $800 for lost, stolen or damaged car keys and fobs
- Guaranteed Auto Protection (GAP)
- Waives or pays the difference between the balance owed on the vehicle and insurance settlement if the vehicle is deemed a total loss (minus certain fees; details vary by state)
- Tire & Wheel
- Provides coverage for damaged tires and wheels due to hazard events
- Excess Wear & Use
- Waives excess wear and use fees to simplify end of lease process
SOURCE: Toyota USA
