CYPRESS, Calif. — Yamaha Motor Finance Corp. USA (YMFUS) rolled out a new credit card program to Yamaha dealers today. It replaces an outgoing program that has been managed by various banks over the last 20 years.
The powersports maker launched its captive last year to initially focus on first-time and limited credit buyers. The new credit card program will allow the captive to expand its focus to prime customers, officials said. The firm has also expanded staff at its California headquarters to manage the new program.
“Yamaha will maintain the key features our dealership and customers values, while providing a program directly through our captive finance company,” said Kim Ruiz, vice president of Yamaha Motor Corp. USA, 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 program features an easy-to-use application process and instant approvals to qualified customers considering a purchase. The captive also rolled out low, attractive special financing promotions. It expects the new program to serve as the primary financing source for many of Yamaha’s products, including motorcycles, ATVs, 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 with the most complete array of financing solutions,” said 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-based program. Yamaha’s capital supports it and Yamaha manages it, which is a very different model than the previous bank-managed program.”