Regardless of your personal politics, these past two weeks have reveal a tectonic shift in consumer confidence, investors’ projections for the new year and the landscape of financial futures. The DOW has closed at all-time and seasonal heights, early reporting from commercial sales have seen an uptick unlike anything in the past 8 years, and even OE manufacturers have reorganized their regional and district sales teams to accommodate the expected upward pendulum swing in sales. For all intents and purposes, the world’s largest market for PWC sales is going to see more fluid currency and a marked swelling in industry growth.
To address this influx of potential new and returning customers, Yamaha Motor Finance Corp., USA, (YMFUS) announced an all-new credit card program available through all Yamaha dealers starting this past November 1, 2016. The Yamaha-exclusive “consumer financing tool” is replacing the company’s outgoing program that had been handled by different banks over the last 20 years. Likewise, the new program will provide an easy-to-use application process with instant approval system to qualify customers when considering a new purchase. YMFUS is supporting the card with special financing promotions and hopes the new program will serve as the primary financing source for motorcycles, ATV’s, side-by-sides and personal watercraft.
Here’s the original press release:
Yamaha Motor Finance Launches New Credit Card Program
Program will be Available to all Yamaha Dealers November 1
CYPRESS, Calif. – November 1, 2016 – Yamaha Motor Finance Corp., USA, (YMFUS) today announced it has launched an all-new credit card program that is available through all Yamaha dealers starting November 1, 2016. This important Yamaha-exclusive consumer financing tool is replacing an outgoing program that had been managed by various banks over the last 20 years.
“Yamaha will maintain the key features our dealers and customers value, while providing the program directly through our captive finance company,” says Kim Ruiz, Vice-President of Yamaha Motor Corp., USA (YMUS) and President and CEO of YMFUS. “The new credit card moves Yamaha closer to our dealers and customers, allowing us to better understand and fulfill their needs.”
The new program provides an easy to use application process and instant approvals to qualifying customers when they are considering a new purchase, and the revolving line of credit provided by the card translates to repeat purchases. YMFUS is supporting the card with low, attractive special financing promotions and expects the new program to serve as the primary financing source for many of Yamaha’s products, including Motorcycles, ATV’s, Side-by-Side vehicles and Personal Watercraft.
“Offering a long-term solution for a credit card program was critical to maintaining our leadership position in the powersports lending industry by providing Yamaha dealers and customers the most complete array of financing solutions,” says Jeff Young, executive vice president and COO of YMFUS. “This highly innovative solution not only provides program continuity, it also gives our dealers and customers the certainty of a Yamaha-backed program. Yamaha’s capital supports it and Yamaha manages it – that’s a very different model than the previous bank-managed program.”
YMUS launched Yamaha Motor Finance last year to initially focus on first-time and limited credit buyers, enabling its dealers to expand their business in a segment underserved by traditional banks and lenders. This new credit card program will allow Yamaha Motor Finance to expand its focus to “Prime” consumers and take over a program that has provided financing solutions to more than one million customers.
Yamaha Motor Finance has expanded its staff at its headquarters in Cypress, California, to manage the new program. The credit cards will be issued by WebBank, Member FDIC.