2014 and 2015 Guaranteed trade in rate? Gimmick or Not?

[Pointblank]

3.99% rate for 2015s with zero $ down.

My finance manager couldn't find that rate. I won't speculate as to why although that's in line with what I would expect Yamaha to come up with this early in the model year.

 

[Ziess21]

Tell him to re-check the September Boats Specials PDF, page 4

 

[Williamsone46]

Just got the email this morning... You have to finance the boat through Synchrony (GE Capital) on the 180 month term. At month 60 you are eligible to trade the boat in and receive used trade in value from NADA AND are covered for up to $5,000 in negative equity. For example: You finance $50k @ 2.99% for 180 months today. 60 months from now your loan balance will be $35,751. If Used Trade in on your boat @ month 60 is $30,751 then you can trade it in toward a new Yamaha and have your loan paid off. If your value is higher than your payoff then you get that as trade as well.

Customer finances a Boat for 180 months on the “as low as 3.99% APR” offer through Yamaha Installment Financing and has the option to trade-in for another new Yamaha boat after 60 months.

 

[Ziess21]

Customer finances a Boat for 180 months on the “as low as 3.99% APR” offer through Yamaha Installment Financing and has the option to trade-in for another new Yamaha boat after 60 months.

Yup

 

[Williamsone46]

2.99% is still available on 2014s and they also qualify for the GTI Program...

"All new 2015 and 2014 year Boats are eligible. Customer must purchase a new 2015 or 2014 Boat and finance on a 180 month term on the "as low as 3.99% APR" offer through Yamaha Installment Financing by Synchrony Financial (formerly GE Capital Retail Bank)."

 

[Ziess21]

"All new 2015 and 2014 year Boats are eligible. Customer must purchase a new 2015 or 2014 Boat and finance on a 180 month term on the "as low as 3.99% APR" offer through Yamaha Installment Financing by Synchrony Financial (formerly GE Capital Retail Bank)."

Yup, looks like I stand corrected... That was a little deceiving.

 

[txav8r]

My take is that it is just a guarantee that the value of the boat will remain good, or they will give you the difference up to $5K "if you trade", at the 5 year point. Gimmick? Yes, but value in it? Yes. To perceive said value, you must trade boats. These boats hold their value very well if your not selling in the off season and not in a hurry. I think too many price their boats too low, and I also think that many will try to buy a distressed or underpriced boat. A few do, but a few get what their boat is worth too, the middle ground is where the masses are. This promotion, IMO, is all about baiting for trade, and not a bad idea at all to offer a good trade incentive, because up until now, you would take a bath when trading the boat in. This incentive does more than get you in the door to trade, it gets inventory in the pre-owned ranks for the dealer, provides the same incentive to the dealer, and...gets you to buy a new boat. Sounds like a very good incentive to me. And if it would get some guys off of those 15 year notes it would be huge...like @Bruce is saying, never going to be on the upside with minimum down on a 15 year note...without some kind of incentive. But I kind of doubt that they will eat the negative equity in a 15 year note at the 5 year point, just to get you to trade. Because an average 60K boat will only be worth in the neighborhood of $36-40K at the 5 year point...and you still owe $43K. I don't think they are talking about 15 year notes, I think they are talking about 5 year notes.

 

[Ziess21]

They most definitely are eating up to $5k in negative equity and the notes are the 15 year/180 mos. The only catch I see so far is that you only have 30 days to make the trade at month 60. If its the off season and inventories are low or the model you want is not available it could be an issue for some.

 

[Williamsone46]

But I kind of doubt that they will eat the negative equity in a 15 year note at the 5 year point, just to get you to trade. Because an average 60K boat will only be worth in the neighborhood of $36-40K at the 5 year point...and you still owe $43K. I don't think they are talking about 15 year notes, I think they are talking about 5 year notes.

"Requirements: Unit must be financed on the 180 month program through Yamaha Installment Financing by Synchrony Financial (formerly GE Capital Retail Bank)"

This promotion, IMO, is all about baiting for trade, and not a bad idea at all to offer a good trade incentive, because up until now, you would take a bath when trading the boat in. This incentive does more than get you in the door to trade, it gets inventory in the pre-owned ranks for the dealer, provides the same incentive to the dealer, and...gets you to buy a new boat. Sounds like a very good incentive to me.

I also think GTI program provides some security for new buyers that would allow them to trade in after 5 years without having to worry about being upside down. For example a Customer is wanting to buy a AR192 but was on the fence on weather to buy that or a AR210 / 212X, with the GTI program he can have some piece of mind knowing that he can trade it in for a new model when he out grows it in 5 years and not be to upside down.

 

[pagekl]

Pretty slick on Yamaha's part. Think about it, how many people trade their boats in within five years. Very few. And we all agree these boats hold value relatively well. Once the dealers figure out the revenue potential, they will be all over it. Take the 2015 price point of $60,000 ( roughly) for a new 242 LS. A potential buyer walks into a dealership because he saw a 242 LS on the water or in tow and knows nothing about either of these websites or starting price points. They look at the 242 LS (only using the 242 as an example because it's the priciest unit) and sees the $60,000 price tag. He or she has several options such as "no thank you Yamaha" and leave, buy a less expensive model (not why they came to the dealership), go with the five year deal on a 180 month finance or look at the same model, but certified used for about $20,000 less. Most first time boat owners buy used. My first boat was a used Sea Doo Speedster SK. Home run for the dealership and Yamaha because they've made money off of the unit twice. So one has to wonder who Yamaha is really targeting with this new scheme? If Yamaha monitors either if these sites from time to time, they know there is plenty of money to be made in the used market arena.

 

[Yamborghini]

I heard all of this at the dealer I was at this morning. The dealer here opted out. But than again a life long boat note isn't my idea of a good time. And praise be to Jesus some of you know what an amortization schedule is, and know how to use it!

Ignorance of this one item is the main reason so many Americans are upside down.

 

[SCSTWG]

I heard all of this at the dealer I was at this morning. The dealer here opted out. But than again a life long boat note isn't my idea of a good time. And praise be to Jesus some of you know what an amortization schedule is, and know how to use it!

Ignorance of this one item is the main reason so many Americans are upside down.

If any of us were intelligent in financial matters, we wouldn't have bought boats.

 

[Glassman]

We have any dealers on here that can chime in?

With all due respect to any dealers/members, I have always had a hard time talking to "most" of those guys. Kinda like talking to a cat.

 

[BigN8]

If any of us were intelligent in financial matters, we wouldn't have bought boats.

Amen!

 

[txav8r]

A boat is definitely not an investment. Well, not so fast! Invest in time with your kids, your wife, your extended family...your piece of mind and time off! That is time you will never get again. Don't get upside down in any toy, but toys will add value to your life. If you can't afford them, find a cheaper one, they are out there by the hundreds! Just don't get caught up in the ways the sellers will woo you into their lair. But if you can afford it, you won't need the guarantees, but you can take advantage of them!

 

[0627Devildog]

If any of us were intelligent in financial matters, we wouldn't have bought boats.

Speak for yourselves. . . . . . I was able to buy a boat SINCE I am intelligent in finacial matters.

Though I would never call it an investment.

 

[itsdgm]

I disagree. A boat is like a piggy bank. Every time my wife asks me where all of our money went, I point outside and say I put it into the boat.


Humm...maybe that explains why she's been crawling in there lately looking for something. I just thought she was doing a bang-up job of cleaning up from our last trip.

 

[davel501]

I disagree. A boat is like a piggy bank. Every time my wife asks me where all of our money went, I point outside and say I put it into the boat.


Humm...maybe that explains why she's been crawling in there lately looking for something. I just thought she was doing a bang-up job of cleaning up from our last trip.

Perhaps she is looking for that lost shaker of salt. Some say there is a woman to blame but you know it is your own damn fault. <- bet you sang that

 

[Yamborghini]

Salt! Salt! Salt!

 

[Bruce]

If any of us were intelligent in financial matters, we wouldn't have bought boats.

While I admit boat ownership is expensive, I believe the investment in family time is well worth it.