Synchrony Financial has announced a multi-year renewal of its program to provide consumer financing for powersports products distributed by Kawasaki Motors Corp., U.S.A. Kawasaki distributes motorcycles, ATVs, side-by-sides, and Jet Ski watercraft through a network of approximately 1,100 independent retailers, with close to an additional 7,700 retailers specializing in general purpose engines.
The agreement extends a consumer financing relationship between Synchrony Financial and KMC which began in 2010. Qualifying buyers1will continue to have access to special financing options and exclusive offers for Kawasaki products through KMC’s dealer network in the United States.
“We’re pleased to continue working with Kawasaki to offer competitive promotional installment financing at dealers throughout the United States,” said Glenn Marino, executive vice president and CEO, Payment Solutions, Synchrony Financial. “This renewal reinforces our leadership in the powersports industry and our continued work with leading manufacturers and dealers to provide a seamless and efficient financing experience.”
A study2 commissioned by Synchrony Financial of powersports customers explores the path to purchase and found that, while value is important, the majority of shoppers choose a brand based on quality and trust. It also confirmed the importance of financing with 76% of survey respondents who have used dealer financing saying it helps make large purchases more affordable, and 52% saying they would not have made the purchase, or gone to another retailer, had financing not been available.
“Synchrony Financial shares our passion for customer service and helping people take home their dream products the same day,” said KMC Sales Operations Senior Vice President Bill Jenkins. “Its deep expertise in the powersports industry provides significant value to our business and helps dealers increase sales.”
Synchrony Financial will also serve as title sponsor for the 2017 Kawasaki Dealer Business Meeting and 50th Anniversary Celebration in November 2016.
1Subject to terms and conditions.
2Conducted by a third party, the Synchrony Financial 2014 Powersports Consumer Study explores the customer path to purchase and surveyed consumers who had either made, or planned to make, a $500+ purchase of a motorcycle, all-terrain or utility terrain vehicle, or personal watercraft within six months.