Yamaha Motor Finance Corporation, USA, (YMFUS) announced it has launched an all-new full spectrum installment loan program that is available through all Yamaha powersports and marine dealers starting Dec. 2, 2019. This important new consumer financing tool replaces an outgoing program that had been managed by various 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. “The new full spectrum program moves Yamaha closer to our dealers and customers, allowing us to better understand and fulfill their needs.”
The new program supports customers across the credit spectrum, from well-established customers to those just building or re-building their credit. Yamaha is supporting the program with low, attractive special financing promotions and expects the new program to serve as the primary financing source for many of its products, including sport boats, 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. “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.”
YMFUS was created to initially focus on first-time and limited credit buyers, enabling dealers to expand their business in a segment underserved by traditional banks and lenders. In addition to its credit card program launched in 2016, the new full spectrum program will allow YMFUS to expand its focus to 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.