Toro, Synchrony partner on retail equipment credit card

The Toro Co. and Synchrony have launched a retail credit card program aimed at helping Toro, Exmark, Spartan and Z Turf Equipment dealers boost sales through flexible consumer financing.

Under the partnership launched on Nov. 20, Toro dealers and customers gain access to Synchrony’s digital application tools, promotional financing options and PRISM credit-decisioning engine, Susan Medrano, senior vice president and general manager at Synchrony, told Equipment Finance News. Synchrony has similar arrangements with OEMs such as Husqvarna, Dr. Power and Echo on the outdoor power equipment side, as well as powersports OEMs including BRP. 

“All of the digital tools that we use on the powersports side and within Synchrony, we can use here,” she said. “When the dealers in the system are doing the application, they can actually push a button and send it to the consumer’s phone, and the consumer can fill out their portion of the application on their phone if they want to, or the dealer can do it all themselves.” 

Synchrony’s involvement in the outdoor power equipment and powersports spaces goes back more than 25 years, including a previous partnership with Toro before the OEM moved its credit card business to Citi, Medrano said. 

Citi and Toro ended their retail credit card partnership on Oct. 31, 2021. Toro then agreed to a credit card partnership with TD Bank, and that arrangement ends on Dec. 15, according to TD Bank. 

Toro also offers outdoor power equipment financing through Sheffield Financial, according to Toro. 

Expanding partnership 

Synchrony’s Toro credit card program offers no-interest and deferred-interest financing, as well as long-term, fixed-rate options for retail equipment customers, Medrano said, adding that Synchrony is planning to expand next year with a commercial product and full integration with Toro’s website.  

Synchrony’s experience prepares it for both retail and commercial outdoor power equipment customers, she added. 

“Most of those customers are individuals 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,” she said. “We have commercial programs across the Synchrony network, and we’ll launch the commercial program for Toro in 2026, so we’re launching consumer first, followed by commercial.” 

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