01-03-2014, 03:10 AM #1
Yamaha Introduces First-Ever Guaranteed Buyback and Leasing Programs
Money. It’s said to be the “root of all evil” and what fills the Chuck E. Cheese’s ball pit in*Dustin Farthing basement that he plays in twice a day. It’s also what’s keeping many would-be personal watercraft enthusiasts from purchasing the brand spankin’ new supercharged runabout they’ve been eying for months now. And while Yamaha can’t do much about Dustin’s dream to recreate Scrooge McDuck’s Money Bin, they’ve done something huge to help you along in purchasing that new WaveRunner you’ve been drooling over.
Yamaha WaveRunners has managed to create two major firsts for the personal watercraft industry – a guaranteed buyback and leasing program. This creates an easy and affordable route to personal watercraft ownership for “new group of consumers looking for convenient payments and no obligation.”
Here’s the official release for the Leasing program:
KENNESAW, GA – December 27, 2013 — Yamaha WaterCraft, a division of Yamaha Motor Corporation, U.S.A., today launched the boating industry’s first leasing program to bring familiar, automobile-like lease plans to the personal watercraft industry. The flexible program is designed for consumers who may not qualify for conventional OEM financing programs or those looking for the flexibility of a lease that includes the option to return or purchase the WaveRunner after 36 or 48 months.
According to Bryan Seti, Yamaha WaterCraft national marketing manager; the goal of the leasing program is to make the fun and excitement that comes with riding a Yamaha WaveRunner more accessible to more people. Upwards of 90 percent of the consumers who choose to lease a new Yamaha WaveRunner will qualify.
“Many of these consumers currently lease a car or have had a great experience leasing a car in the past. For them, the flexibility of leasing is preferable to purchasing,” said Seti. “And if these consumers decide to purchase the WaveRunner in the future, they now have the option to do that after 36 months, or simply bring it back at the conclusion of their payment schedule.”
And the release for the Buyback program:
KENNESAW, GA – Just in time for the official kickoff of the 2014 boat show season that begins in January, Yamaha WaterCraft today announced the boating industry’s first guaranteed buyback program that provides buyers of new Yamaha WaveRunner personal watercraft the opportunity to return their WaveRunner to their dealer after 36 months, and simply walk away or easily trade up to a new model.
When a customer purchases a new 2013 or 2014 WaveRunner and finances on a 60-month term, the buyer can now have the peace of mind knowing that they have the option to return the PWC to the originating dealer after 36 months as a guaranteed buyback. The unit will be valued according to NADA (National Automobile Dealers Association) standards, and in the event that the customer owes more that the NADA Used Trade-In Value, the remaining loan balance will be paid by Yamaha up to $2,500.
According to Bryan Seti, Yamaha WaterCraft national marketing manager, “Yamaha WaveRunner buyers can now purchase a new model with the confidence of knowing that any negative equity after three years will be paid off at no cost to them if they decide to trade-up or simply walk away.”
“Our customers asked us to create a program that allows them to move in to a new WaveRunner with the least hassle possible,” said Seti. “Now, our customers can enjoy great 60-month financing terms with the peace of mind of knowing that they are only locked in for 36 months with no responsibility for selling their used unit.”
For more information about the Yamaha WaveRunner Leasing Program, visit HERE.
The post Yamaha Introduces First-Ever Guaranteed Buyback and Leasing Programs appeared first on The Watercraft Journal.
01-03-2014, 10:28 AM #2
Wow...very, very cool. I foresee a shit load of slightly used Waverunners on the market.
01-03-2014, 10:41 AM #3
i wonder if its just going to be low end models, or the entire line up ??? cant see them allowing someing to take a brand new FRZ SHVO out to beat for three yrs and just bring it back ???
01-03-2014, 10:49 AM #4
01-03-2014, 12:16 PM #5
- Join Date
- Jul 2007
- near Toronto, Canada
So the deal is buy the machine using a five year loan, then at 36 months (3 years) return it to the dealer?
The dealer (or Yamaha) then compares the NADA current value (how accurate is that number going to be?) with the remaining outstanding loan amount.
If the loan exceeds the NADA 'trade-in value' by $2500 or less, Yamaha will absorb the difference. For differences greater than $2500, Yamaha will only absorb the first $2500, and the customer will be required to repay the rest of the loan amount.
Is this all correct?
What interest rate?
So how much money would the 'typical' customer be required to repay at the end of the 36 month period when they return the machine?
Yamaha would have already done the calculations for each and every model, and have a fairly accurate idea where they project each model (and the corresponding loan) to be when the 36 month term expires.
How much down payment is required?
From a customer perspective, is the optimal (financial) objective to provide just enough down payment that 3 years later the outstanding loan is almost exactly $2500 above NADA at that time?
Yamaha pays that $2500 and you then buy the depreciated machine back from the dealer the next day...
How much influence does Yamaha and their authorized dealer network have on the NADA numbers? If Yamaha wanted the future NADA trade-in numbers to become somewhat inflated to reduce their losses on the $2500 allowance portion of the program, could they cause the 'official' NADA numbers to be driven higher?
01-03-2014, 12:23 PM #6
01-03-2014, 01:57 PM #7
It's going to be interesting to see how well this new plan plays out.
I'm wondering how bad they will hit you for damages to the ski.
I don't know of any 3-4 yr old units that haven't bumped something....
01-03-2014, 03:03 PM #8
This is simply a way to put people into debt easier by offering LOW payments for a luxury item they can not really afford.
-Is this from the Rent-a-Center department at Yami ??
01-03-2014, 05:26 PM #9
01-03-2014, 05:55 PM #10
Yamaha's answer to the spark, a returnable ski instead of disposable ski when the trill of riding a jet ski wears off ????? brilliant idea really !!!! a whole new source of donor skis for the conversion market
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