Yamaha Riding High with Value-Added, Private-Labeled Power Financing Program from Metavante Lending Solutions

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Yamaha Motor Canada Ltd. is a leading provider of high quality motorcycles, outboard motors, ATVs, personal watercraft, snowmobiles, boats, off-road vehicles, outdoor power equipment, accessories and much more. In the Canadian marketplace Yamaha saw an opportunity to utilize technology to build its leadership position and create a competitive advantage. Yamaha has one of the strongest dealership networks in the industry. A cornerstone of the dealer network is Yamaha’s Power Finance program developed in partnership with Metavante Lending Solutions.

"We encouraged our sales representatives to offer Metavante’s financing program to all prospects with outstanding results!"

Ken Gordon, Business Manager, Yamaha Dealer

The Challenge

The challenge for Yamaha was to find a partner who could provide an integrated Power Finance solution that would include innovative technology, dealer services and proprietary branding to extend its growth potential. Yamaha was also looking for a mechanism to differentiate itself from other manufacturers in the marketplace.

Yamaha’s key success factors included:

• A simple-to-use dealer interface
• Quick decisioning through lending automation technology
• High approval rates (single or multi-lender)
• Flexible financial products
• Dealer management capabilities (incentives, promos, etc.)
• Bilingual dealer/customer support
• Private-labeled program

Considerations

When a customer visits a Yamaha dealer showroom ready to make a purchase, the dealer’s objective is to make it as easy as possible for the customer to purchase the item and to have an enjoyable experience from start to finish. A key component for each dealership is having a Power Finance solution in place that will streamline the sale. Not having the ability to provide credit for high-ticket items like boats, motorcycles, etc. would mean lost sales for Yamaha and probably lost customers to competitors.

Yamaha emphasized the importance of creating a financing program that provided maximum credit approvals and gave dealers the ability to cross-sell products at the point-of-sale. Yamaha also wanted to extend manufacturer-sponsored programs to customers. The bottom line – Yamaha wanted dealers to be able to offer attractive financing incentives to consumers and ultimately drive sales.

The Solution

Metavante Lending Solutions worked closely with Yamaha to develop a financing program that fit their needs. Metavante deployed their innovative financing solution with specific lending partners acting as a single point of contact between the manufacturer’s dealer network, consumers and lenders. Metavante presented Yamaha with a powerful complimentary lending scenario where lenders worked together cooperatively instead of competitively.

As a result dealers experienced faster approval and turnaround rates at the point-of- sale with Metavante providing multiple lending institutions. Consumers were also able to take advantage of Yamaha-sponsored promotional packages that could be purchased in the store at the point-of-sale. Dealers were able to streamline the entire financing process with Metavante’s leading edge, point-of-sale platform. In addition, dealers experienced increased sales revenue by offering the Power Finance program. Metavante’s private-labeled technology platform in conjunction with Yamaha’s call center support team resulted in an enhanced manufacturer-dealer relationship.

Value-Added Results

After two year’s of using Metavante’s vendor financing program, Yamaha has seen a 100% increase in financed transactions. Yamaha was able to leverage its brand image and strengthen its relationship with its dealer network with a minimal investment. “Metavante’s comprehensive solution addressed all of our needs from origination to dealer funding,” said Chris Brown, General Manager, Yamaha.

Metavante provided Yamaha with a multi-faceted program that met their unique set of requirements, ultimately providing the manufacturer with the ability to facilitate and manage a premier Power Finance program that resulted in increased sales.

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