TOYOTA HAS LAUNCHED its own bank in Ireland.
Toyota Financial Services Ireland is a joint venture between Toyota Financial Services, Toyota Motor Corporation’s international finance arm, and Toyota Ireland, the 100 per cent Irish-owned distributor of Toyota and Lexus cars in Ireland.
The new financial services will help Toyota compete with Volkswagen Ireland and Renault, both of which already have established private banks in Ireland.
Toyota will now be able to offer its customers preferential deals on finance packages and Toyota says it expects around €70 million worth of business in its first year.
Toyota’s financial services will also create 25 new jobs to service the demand.
Toyota Financial Services Ireland is headed up by François Radot, the former Chief Executive of the Toyota NORDICS region (Norway, Sweden, Denmark) and former Chief Executive of TFS in France and China.
Speaking at the launch of the services last week, Steve Tormey, Chief Executive, Toyota Ireland said:
We predict TFS(I) will have a significant impact on the Irish motor market and we would expect to write somewhere in the region of 4,000 new and used contracts in the coming 12 months with a total value in excess of €70 Million.
The Toyota Financial Services offering is available from Toyota and Lexus dealerships across Ireland with Personal Contract Plan (PCP) rates starting at 2.9 per cent and averaging 3.9 per cent.
For more information visit the Toyota Finance website.
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