Yamaha Card Is a ‘Game Changer,’ Exec Says

LAS VEGAS — Launched almost a year ago, Yamaha Motor Finance Corp. has found tremendous benefit in having an in-house credit card to support its customers’ ownership experience and for identifying areas of continued financial services growth.

“The Yamaha card has really been a game changer for Yamaha Financial Services,” Lyndon Elam, vice president of retail sales, marketing, and operations at Yamaha Motor Finance Corp., said during a panel discussion at Powersports Finance 2017 yesterday.

Yamaha previously worked with Capital One Financial Corp. on a co-branded card before the bank exited the market, and Yamaha eventually partnered with WebBank for an in-house card, Elam said. Yamaha launched its credit card program on Nov. 1, 2016.

“The flexibility and insights that we are gaining from being that close to the customer has really been outstanding” he said. “As an example, we are constantly looking for ways to identify segments of credit that make sense within the traditional box. We have a customer appreciation program where we are identifying customers who have had prior powersport units and paid well on them. We are able to increase our [credit] box in support and recognition of that lower-loss segment.”

The ability to offer subvented rates “is the whole sort of purpose and benefit of a factory having a captive finance arm,” Jeff Young, executive vice president and chief operating officer previously told Powersports Finance. “[The OEM] gets the benefit and value of being able to focus all of its promotional, APR retail financing efforts through one source,” he added.

Additionally, revolving open-line credit allows Yamaha to tap into the customer life-cycle and the full ownership experience, Elam said on the panel. “You aren’t able to capitalize [on that] within an installment program.”

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