Yamaha Factory Financing
Yamaha Factory Financing
Call 800-800-8987 For more information or to apply for a Yamaha Card!
Only Available for New Units:
Tier 1: 5.99% APR
Tier 2: 7.99% APR
Tier 3: 10.99% APR
Tier 4: 13.99% APR
All: No Interest for 6 months, then 12.99% for 48 mo.
Yamaha offers a “Factory Finance” card to individuals. The card enables the holder to take advantage of various offers and special promotions across a wide range of Yamaha products, including golf cars. Factory Financing normally requires no down payment. You can provide one if you like, to reduce your financed amount, but it is not necessary. You can finance the price of your unit, accessories, sales tax and delivery, up to your credit limit. To apply – call Maseks at 800-800-8987 or contact your local Yamaha golf car dealer to put together a financing package that works for you.
Credit “Tiers” represent the finance company evaluation of your credit history. In general, “Tier one” people are very rare. Folks with excellent credit are normally “Tier 2” and so on. We make no claim as to how the tier is assigned, but we can find out what tier you are if you don’t know already. Tier 1 and 2 folks have generally lower “standard” rates than Tier 3 or 4. Standard rates go into effect after the promotion rates expire on any unpaid balances.
There are a number of “finance offers” for each credit Tier that can have a fixed percentage rate for the life of the loan or for a 24-month “flexibility period”. The next column show the “cost” of that particular finance offer. This is the fee charged by the finance company and will generally be added to your invoice when purchasing the unit. Example. A cost of 1.50% from the finance company for a $5000 financed amount will mean that we will add $75 to your selling price (1.50% of $5000), making your financed amount $5075. — For that reason, many of our customers choose the finance offers that have “0%” cost factor to add to their purchase. There is still the noted APR charged on the loan, there is just no “up front” financing charge.
the “Payment Factor” is perhaps the most important column on the promotions page. Multiply this percentage times your financed amount to determine your payment for that particular finance offer. As an example, there may be a finance offer of ” 5.99% APR for 24 months; standard rate.” The offer may carry no “up front” costs, and have a “payment factor” of 1.58%. ? This means that if you are financing $5,000 for example on this finance offer, your monthly minimum payment is only $79 for 24 months ($5,000 x 1.58%)! Very affordable! Of course a payment of $79 for 24 months will not be anywhere close to paying off a $5,000 loan amount plus interest.
The key to making a very low minimum payment program work is to pay the financed amount off in full PRIOR TO THE EXPIRATION OF THE PROMOTION PERIOD. In our example above on the “5.99% APR for 24 months; “Standard Rate” applies to any unpaid balance. Standard rates vary with credit tier and the interest markets, but generally involve a hefty “prime plus 11.75% to 19.75% APR rates. As stated above, the key is to pay the balance off prior to the end of the promotion period – In our example 24 months. There are normally no pre-payment penalties at any time, so you can transfer your balance to another credit card or your bank if you prefer. Please see the full disclosure statements from Capital One on the terms of the card. Remember not to skip a payment or perform some other act that would throw your account into default with sizable penalty rates. ? Manage your Yamaha Capital One Factory Finance Account online. Capital One provides an excellent online site to manage your account after it has been set up. Yiou can pay online, set up email alerts, review your statement, account balance, and recent transaction history, ect. ? Please call Masek’s or your local Yamaha golf car dealer for more details. Our toll-free number is 800-800-8987. Normal hours are 8-5 M-F, Mountain time.