Subaru Corp., Subaru of America and Subaru Canada have jointly announced the Tokyo-based automaker will launch an as yet unnamed captive finance company to help dealers and customers secure financing.

“Entering the captive finance business will help us support our sales division and our retailers, and strengthen our relationship directly with our customers, which will provide long-term value for our shareholders and partners,” writes Yoichi Hori, CEO of Subaru of America and Subaru Canada, in a release. “This is a strategic opportunity to create future growth and continue our focus on customer loyalty.”

In the U.S., Subaru Motors Finance’s partnership with Chase Bank will extend through the transition; north of the border, Toyota Credit Canada (div. Toyota Financial Services Corp.) will continue to back Subaru Financial Services.

The new entity will provide a “full range” of services, including loans, leases and floorplan financing, according to the release.

“This is a forward-looking move that provides Subaru with a stronger foothold in the U.S. market and allows us to grow our relationships with our customers and retailers,” says Subaru of America President and COO Jeff Walters. “Having Chase as a continued and strong partner signals to our customers, retailers and stakeholders that we are committed to building this new platform for lasting success.”

Read more at Subaru of America