Dear Dealer Partners:

“The third time’s a charm,” as the saying goes, and as I close out my third year with TICF, I do feel as though my time has been charmed . . . by the incredible team I work with each day and the overwhelming support of a loyal dealer network.

This past year has brought us all many new, unexpected changes, challenges, and opportunities.  Adapting to a remote and more digital environment has changed the way we interact with one another daily.  However. one aspect that remained constant was our annual Dealer Satisfaction Survey.  This year, the third year of the survey, we received a near-record number of responses from you, our Toyota Forklift dealers.

With your replies and feedback on COVID-19 and every aspect of our service, we are continuing to make a genuine effort to produce even more meaningful impacts for you and our mutual customers. Your input continues to help us invest in ways that best serve you through ever-changing business needs.

As we adjust to this new fiscal year, we at TICF are very aware of the challenges you are facing and are committed to providing support in any way we can to bolster our partnership.

To that end, I would like to highlight some programs and developments designed to assist you as you maintain and build your business:

• We continue to offer finance and working capital loans through our Dealer Credit department.
• We have focused on lowering rates for new Toyota products, including adding attractive incentives for new conquest customers who have not previously financed equipment with TICF.
• We continue our commitment to improvement or processes based on your feedback: Despite the pandemic, we have made several investments in technology, personnel, and programming designed to better support our dealers and ensure that we are strategically aligned at every opportunity.
• One way in which we are committed to helping you is developing new programs aimed at helping you convert current Class 4 & 5 Toyota customers to Toyota electric products. We will be sharing more details with you, our valued Toyota dealers, as we develop and launch programs with that focus in mind. 

And we will look to further integrate with TMH at every opportunity – from joint programs to using data to pre-qualify customers for direct offers, and more. We will continue to seek new avenues to invest in the Toyota business in the coming year. We will do it with your support.

TICF is committed to your success, and as a captive, we will be here for you, your customers, and TMH, regardless of the economic climate, and we want to be your finance provider of choice.

TICF is here to support you and assist you in increasing sales and building customer loyalty.

The past 16 months have been, in a word, unprecedented.  In between unexpected challenges and unknown circumstances, there has been a light of opportunity and a new way in which we all can grow together, whether it is virtual or in-person.  While none of us could have predicted the past year and an abrupt adaption to remote environments, with the recent advancements in multiple COVID-19 vaccines, lowering hospitalization and infection rates, we are seeing hope and a return to a new normal sometime soon.

Ever optimistic about our future, we hope you are taking care of yourself, your families, and each other as we actively seek to do the same while continuing to create new ways to better support you and our mutual customers.  Since the beginning of the pandemic, we have remained dedicated to helping customers impacted by COVID-19.  We have offered deferrals and other customized solutions to help our mutual customers through a difficult situation.

In total, we have helped provide assistance for 4,400 contracts and 7,800 total units.  A total of $17MM in deferred payments have been processed for our customers. To further help those affected customers, we waived all interest and other related fees too.

Since we started processing deferrals, 98% of deferred customer payment amounts are now cleared and considered current.

We are committed to helping our mutual customers in any way we can as their businesses recover from the economic effects of COVID-19.

TICF is steadfastly focused on driving innovation that serves you and our mutual customers – supporting the business we have earned while delivering solutions that help contribute to sustainable growth for all of us as we navigate this new environment together. We maintain our commitment to you that, despite this crisis, our day-to-day business is not interrupted.

If your customers, that have financed with us, are impacted by COVID-19, we are continuing to offer various relief options.  Customers may contact our Customer Service Team at 1-800-541-2315 for assistance.

Please know that we are working tirelessly to develop programs and services to best partner with you and help you maximize the value of every sales opportunity.

Thank you for your continued business and support.

For the past three years, TICF has surveyed you, our Toyota dealers, annually. The dealer satisfaction survey is an opportunity to gather feedback on what we do well, what we can do better, and how we can continuously improve as a company.

This year, the third year of our Dealer Satisfaction survey, we received feedback from 619 Toyota Forklift dealers contacts – with 53.1% of all those surveyed responding.

It is clear that the COVID-19 pandemic is still impacting you and we empathize with the challenges you and your business continue to face. Among the many things we learned, about 50% of respondents felt very supported with our response. Of course, that means that 50% of those that took the survey feel we could have done better. We were very disappointed to learn that the COVID-19 relief on wholesale lines, customer deferrals, and joint programs missed the mark in your eyes.

Ultimately, only 49% of dealers reported that they were very satisfied with TICF. While this is on par with 2020 results in which 48% of dealers reported satisfaction, our aim is for substantial and continuous improvement – even during a once in a lifetime event like the pandemic.

Dealers reported some notable improvements, including:

• Satisfaction with Retail Credit was up 10%;
• Satisfaction with TC3 functionality was up 13%;
• Two-way communications was significantly improved;
• Gains in service and support from Major Accounts

With feedback on COVID-19 and every aspect of our service, we will continue to make a genuine effort to produce even more meaningful impacts to you and our mutual customers.

While there are areas of opportunity all along the dealer experience, three areas we will be focusing on in our action planning next month. They are:

• Improving speed and responsiveness to inquiries;
• Developing an effective, efficient, and dealer-centric process for expediting solutions to funding issues;
• Continue to progress improved functionality, user experience and user support.

While we are still analyzing the data and turning the feedback into actionable projects in every department, know your input helps us invest in ways that best serve you through ever-changing business needs.

Thank you for taking the time to tell us how we are doing. We look forward to sharing with you our areas of concentration based on this year’s findings in the next issue.

One way in which we are continuously improving and better meeting your needs involves our brand-new Dealer Service Phone Number & IVR telephony system.  The COVID-19 pandemic is still impacting you and we empathize with the challenges you and your business continue to face.  As a result of your direct feedback, and the COVID-19 environment, we know there is more reliance on phone interactions with our TICF associates and want to provide you with a more customized and efficient process for getting in touch with us.

The new telephony system, a cloud-based softphone technology, allows for a more seamless dealer experience for you, and the ability to reach our associates quicker than ever before.

The customer service phone number will remain the same, but will now be reserved for customers, instead of previously handling both dealer and customer inquiries.  Additionally, a future enhancement to the dealer service line includes customized options to better fit your needs.

Dealer Number:                   844-774-6509
Customer Number:             800-541-2315 

We are always striving to be your financial partner of choice and hope that this new dealer service phone number is one step closer to providing a best-in-class dealer experience for you.

If you have any questions about these changes, please contact your RSM. Thank you for your valuable feedback, continued support, and business.

With more than 20 years of Toyota financial experience, Carolee brought a depth of understanding to her most recent role as Inside Sales Director, which made her successful among truck and forklift dealers and customers. She built on the foundation of her predecessor to grow market share and increase dealer satisfaction in her regions.

Having previously led Customer Service and the Dealer Financial Services wholesale teams as well as national account transactions as a Relationship Manager for large dealer groups, Carolee parlayed her business insights to quickly develop lasting relationships and offer customer-focused solutions that made her successful in her most recent role.

“Carolee is an extremely hard worker, supporting dealers from coast to coast at all hours,” says Keith Courtney, Senior Regional Sales Manager. “More than that she has a cheerfulness, a kindness, an ability to learn, and to look at an issue from all angles which has contributed to her significant success in this role and in her career.”

Carolee has had a meaningful influence on Toyota, TFS, and TICF throughout the last 20 years. Her dedication, expertise, and passion for people have been an inspiration.

With an impressive 33 years of Toyota experience, Rich has made a tremendous impact on building Toyota’s consumer and commercial credit business, during the last three decades. Currently based in Columbus, Indiana, as the North Central Regional Sales Manager, he has represented TICF with the OEM in a multitude of projects since moving there in 2014.

Rich’s remarkable career includes roles in Collections, Credit, Wholesale, Branch Management, and National Accounts. Always building quality relationships, Rich has approached every challenge with enthusiasm and passion for the brand.

“TICF, its dealers, and our mutual customers, have benefited greatly from Rich’s counsel throughout his impressive career,” says Mike Schultze, Senior Director of Sales and Operations. “Ever positive, warm, and welcoming, strangers quickly become friends who benefit instantly from his business acumen and determination to help them succeed.”