Yamaha Motor Finance Corporation, USA, yesterday launched an all-new “full-spectrum” installment loan program available through Yamaha powersports and marine dealers. The company said it replaces an outgoing program that had been managed by different banks over the last 15 years.
“Yamaha is improving the services and features our dealers and customers value, while providing the program directly through our captive finance company,” said Jeff Young, president and CEO of YMFUS in a statement. “The new full-spectrum program moves Yamaha closer to our dealers and customers, allowing us to better understand and fulfill their needs.”
The program is designed to support established customers to those building or re-building their credit. Yamaha is supporting the program with special-financing promotions.
Young expects the program to serve as the primary financing source for many products, including Yamaha sportboats, personal watercraft, motorcycles, ATVs, side-by-side vehicles and golf cars.
“Offering a long-term solution for this program was critical to maintaining our leadership position in the powersports lending industry,” said Lyn Elam, YMFUS vice president of retail finance in the statement. “We are providing our dealers and customers the certainty of a Yamaha-backed program – Yamaha’s capital supports it, and the Yamaha team manages it – that’s a very different approach than the bank-managed programs.”
Yamaha Motor Finance was initially designed to focus on first-time and limited-credit buyers so dealers can expand their business in a segment that underserved by traditional banks. The new program also lets YMFUS include “prime” consumers.
Yamaha Motor Finance has expanded its staff at its headquarters in Cypress, California, and its branch office in Marietta, Georgia, to manage the new program.