Yamaha Credit Card Program
To ease the motorcycle and powersport vehicle finance process, Yamaha Motor Finance Corp., USA (YMFUS) has launched a new credit-card program.
The program, available in all Yamaha dealerships since November 1, brings all credit-card financing in house, allowing the Japanese motorcycle manufacturer to replace the outgoing program of 20 years that was managed by various banks. The finance process will be much simpler for dealers as riders seek to purchase anything from the new 2017 Yamaha YZF-R6 to the FJR1300ES.
“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.