AS A NEW RETAIL financing tool for dealers, Yamaha has partnered with CUDL (www.cudl.com), a California-based company that acts as a portal between dealerships and more than 700 credit unions nationwide. CUDL allows dealers to offer credit union financing directly through an automated decisioning system.
Yamaha is offering the tool to dealers in Arizona, California, Oklahoma, Oregon, Pennsylvania, Tennessee, Utah, Vermont and Washington, with more states to be added shortly.
Yamaha products under the new program include motorcycles, ATVs, side-by-sides, snowmobiles, personal watercraft and jet-powered boats.
“Yamaha has developed an innovative partnership with CUDL that will provide our dealer partners with another retail finance option for their customers, particularly the millions of credit union members already in the CUDL network,” Ian Harper, Yamaha’s general manager of Financial Services, stated in a news release. “Through our exclusive relationship, CUDL will offer their unique service to Yamaha dealers at a reduced rate. This gives our customers more purchasing options along with the ease and convenience of accessing credit union financing directly at their local Yamaha dealership.”
CUDL administers the nation’s largest point-of-purchase and indirect auto lending network for credit unions. According to Yamaha, CUDL credit unions as a whole represent the third-largest source for auto financing in the U.S. Many of the credit unions, Yamaha claims, are already offering powersports financing, with even more expected to join in the near future.
Jerry Neemann, CUDL’s executive vice president and CSO, stated: “The new partnership between our organizations will open the door for Yamaha dealers and our credit unions to pursue beneficial relationships providing an ideal opportunity to grow their bottom lines. Our credit unions have a vital new source to further enhance their member offering and capture member loan activity. The partnership provides Yamaha dealers with a new resource to tap into the credit union market and drive new customer opportunities.”
Posted by Arlo Redwine