Synchrony to power Toroโ Retail Financingโฃ with New Credit Card Program
MINNEAPOLIS – December 4, 2024 – Toro has โpartnered with Synchrony to launch a new retail credit cardโ program, offeringโ customers aโฃ range of financing options for outdoor โฃpowerโ equipment purchases. Theโข program, which began rolling outโข thisโฃ fall, features no-interest and deferred-interest financing, alongside long-term, fixed-rate options. synchronyโ also plans to expand theโ partnership in 2026 with theโ introductionโฃ of a commercial financing product and full โฃintegration with Toro’s website.
This collaboration marks a return forโ Synchrony to the Toroโ business,โ having previously held a credit card partnershipโฃ with the OEMโ over 25 years agoโฃ before Toro โmoved to Citi. The newโข program aimsโค to streamlineโค the application process, allowing consumers to complete their portion onโค their phones or have the dealerโ handle the entire application.
Toro recently transitionedโ away from โฃotherโฃ retailโ credit partners. Its partnership with Citi ended on October 31, 2021, followed by โคan agreement with TD Bank which concludes onโ December 15. Toro also currently offers equipment financing thru โSheffieldโ Financial.
“We’re launching consumer first, followed by commercial,” said โคSynchrony’s Eileen Medrano. “Most of those customers are โฃindividualsโค applying for a commercial loan, and so you could still evaluate the consumer that’s sitting there, but commercial programs are not new to Synchrony. We have commercial programs across the Synchrony network.”