Toyota Kreditbank has further expanded its white label financial solutions by partnering with Wahl Finance and Flegel Finance.
In 2018, Toyota Kreditbank GmbH (TKG) introduced a white label solution, empowering dealerships to establish their own financial presence. This innovative approach enabled multi-brand retailers to provide financial solutions under their own brand, tailoring products to their customer base.
Presently, five Toyota and Lexus partner dealers are utilising Toyota Kreditbank's white label solution for their non-Toyota brands. Now, with the inclusion of Wahl Finance and Flegel Finance, two new white label brands join the fold.
Christian Ruben (pictured), CEO of Toyota Kreditbank GmbH, commented on the growing trend, stating, "More and more partners are seeing the benefits of a white label solution. We are increasingly being approached by retail groups that have not had any contact with the Toyota brand."
The Wahl Group, based in Siegen, has become the first retail group outside the Toyota-Lexus network to adopt TKG's white label solution. With over 1,000 employees, representing ten brands across 29 locations, the Wahl Group stands as one of the 20 largest car retail groups in Germany.
Thomas Wahl, Managing Director of the Wahl Group, said: "We are pleased to add TKG, a very experienced white label provider of financial services in the merchant sector, to our portfolio. Right from the start, our Wahl Finance label will be able to profitably use the proven processes and attractive offers for the marketing of our new and used cars and strengthen customer loyalty to the Wahl Group in the long term."
With around 400 employees, six brands and seven car dealerships at four locations, the Eifel-Mosel Group and associated trading company Heisel am Kreisel are among the top players in Saarland and Rhineland-Palatinate. Under the name Flegel Finance, the automotive group is now able to offer financing and leasing products for various vehicle brands under its own brand name.
“We are delighted that all service processes in the front and back office are controlled by TKG. This makes the repurchase process much easier after the end of our customers' financing and leasing contracts," commented Ralph Flegel, Managing Director of the Eifel-Mosel Group.
