GE and Yamaha Motor Corporation Extend Consumer Financing Agreement
OREANDA-NEWS. June 06, 2012. GE Capital Retail Bank and Yamaha Motor Corporation USA today announced a multi-year renewal of their installment lending program. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers and dealers to help grow their customer sales, will continue to manage the Yamaha relationship and service the account.
Since the Yamaha program began in 2004, more than USD 2 billion dollars in new and pre-owned powersports equipment has been financed. The program is available through 1,700 Yamaha motorsports, watercraft and marine dealerships in the United States, and for purchases of vehicles, parts, garments and accessories.
“Financing is an integral part of the powersports business and customer satisfaction,” explained Stephen Motta, general manager, Payment Solutions, for GE Capital’s Retail Finance business. “Our research indicates that consumers spend an average of 76 days* researching a major purchase, and that financing is an important factor in their decision process.”
Founded in 1955, Yamaha Motor Corporation USA is one of the world’s leading manufacturers of motorcycles, ATVs, side-by-sides, personal watercraft and sport boats.
“GE Capital has been a great program manager for Yamaha Motor Corporation USA,” said Cliff Franzen, assistant division manager, Retail Finance, for Yamaha. “They understand our business and provide a high level of customer and retailer support. We’re happy to continue this relationship.”
For more than 75 years, GE Capital’s Retail Finance business has provided billions of dollars in consumer financing through major retailers and more than 200,000 small- and mid-sized businesses throughout the United States. GE Capital has been a leading provider of consumer credit in the powersports industry for nearly 30 years. The company supports its clients with proprietary online technology such as Business Center, which includes service, marketing and sales tools, as well as the newly launched Learning Center, providing businesses with fast and easy access to training tools and resources on how to better understand and offer financing to consumers.