State regulations on GAP warranty have prevented some dealers from receiving Yamaha Motor Finance Corp. USA’s new GAP Plus warranty product, Senior Group Manager of Retail Finance Ashley Cooper told Powersports Finance.
About “90%” of the captive’s dealer base has access to the new product, but regulations have slowed the rollout in a “handful” of states, Cooper said. Yamaha does not have a specific timeline of when GAP Plus will be available in those states, but it plans to have the product available nationwide.
In May, the captive launched GAP Plus for its dealer network. GAP Plus is an updated version of its GAP warranty product, and it includes a $1,000 deductible allowance and a $1,000 repurchase credit in the event the unit is beyond repair. The original GAP product had a $500 deductible and no repurchase credit.
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“The dealers see the value for the customer in [GAP Plus], and they, of course, see the value for a dealership in it, as well,” Cooper said. “So, it’s been very well received, especially the fact that we’re giving a repurchase credit in the case of a total loss scenario.”
In addition to GAP Plus, Yamaha expanded its prepaid maintenance program, Yamaha P.P.M, to include boats and personal watercraft.