Dealer requires financing through Yamaha <also says NO CASH deals!!??>

[1969mach1]

That excellent advice. Its also how to negotiate. I had a non-Yamaha option-B sorted out ahead of time.
I pushed back from the table on this deal, then spoke to the sales manager directly and was able to get all concerns resolved to my satisfaction and then moved forward with the improved deal.

That always seems to work best for me. You just have to go into the conversation armed with an understanding of current market condiions.

I got that last part from you guys. Great ROI from my being a member hear only a few days. Looking forward to hanging out with you all more.

Some of you will be spooked by the sales assoc's aggressive position. It doesn't bother me. Its his job to get the best deal he can for his organization and I think he was just a little inartful in his communication style.

I'll post follow-ups if you're curious to see how it all works out.

Cheers
-E

Eric,

Don't take this the wrong way, but you sound like someone who is willing to get this boat "at any cost" and have talked yourself into believing that it will all work out.

You listed multiple "red flag" issues. Can you tell us if the dealer has resolved these in writing:

Here are the conditions they've offered;

1. Won't take cash. Won't take outside financing. Will only take an order if financed through Yamaha.
2. Won't provide an invoice, just a final price. Price looks to have an additional $2500 dealer fees, beyond the $3500 dealer prep.
3. Won't provide APR or finance contract until after I sign purchase order.
4. The purchase order specifies
   1. Deposit is non-refundable
   2. Specific performance, I am required to purchase the boat. Deposit does not cover liquidated damages for non-performance.
   3. I must carry the financing for a minimum of 12 months

Sometimes, FOMO causes people to make decisions they would not otherwise make. Additionally, I will go on record as saying this right now. If you are just ordering this boat right now, you are not going to have it for 2022 which is why (I suspect) the dealer had all these clauses requiring you to pay anyway.

Here is what I would do: If you are hell bent on buying from these clowns (I believe to be a bad deal), then at least put a time to deliver out for yourself. Example: if the boat does not arrive by May of 2022, you can cancel the order with not penalties, no further requirements and a full refund of your deposit...". Anything less would be stupid. I am sorry to be so blunt, but sometimes people just need to hear it that way.

Lastly, if the SM or Dealer is trying to tell you this is a rogue sales person, that is total bs, there are not rogue sales persons. Sales persons don't get money from yamaha for finance. A fish rots from the head down my friend. As many have said, this is a bad idea. As the old gov't saying goes, if you don't like it now, wait until you actually get to read it!

 

[Gap22]

I just got the call for my AR 190 this weekend. I am paying via cashier's check and they are fine with it. Did not say one word about financing.

 

[tabbibus]

Glad its working out for you. I still think that sales associates "aggressive position" is potentially an illegal one and could get that dealer into trouble. Primarily around the area of the cost of financing - they are making money from the financing, and if you are forced to take a more expensive loan - that is where they'd get into trouble. Now if you document this and they force you into that agreement - their repercussions could be major (like you not having to pay the loan).

If it isn't illegal, and you can find a cheaper loan, and neither have origination fees, then you take their loan and pay it off immediately with your own loan. Stupid waste of time for both parties....but they'll count on you not bothering once you have the boat.

But according to the dealer, you can't pay it off until 12 months!

 

[zackmorris]

After some research, it looks like It's not illegal to refuse a sale unless you use dealer financing. This goes for cars and boats-- its just a dirt bag move.

Sounds like typical dealer bs where they want you to sign an intent form / "promise to buy" doc before sitting with finance- Not binding, just gets you in the mood to say yes.

I've told plenty of dealers to suck it from the back- this one would have received the same treatment. A negative google maps review does way more harm than just walking out on a deal btw...

 

[Julian]

There is absolutely NO WAY they can prevent you from paying off your loan immediately - other than delaying giving you the details for so long that you have to keep paying your installment payment. If I wanted to pay cash and this was the requirement, I'd:

1. Walk away
2. Buy it and ensure I knew EXACTLY what the loan amount is for, and send that amount immediately to pay it off. Now they may make one month's interest off me....which is what they want, but that would be all those F'rs would get (and I'd factor that into my in my head price of the boat).

But mostly, I'd just walk away and document their tactics on every review site I could find.

 

[adrianp89]

There is absolutely NO WAY they can prevent you from paying off your loan immediately - other than delaying giving you the details for so long that you have to keep paying your installment payment. If I wanted to pay cash and this was the requirement, I'd:

1. Walk away
2. Buy it and ensure I knew EXACTLY what the loan amount is for, and send that amount immediately to pay it off. Now they may make one month's interest off me....which is what they want, but that would be all those F'rs would get (and I'd factor that into my in my head price of the boat).

But mostly, I'd just walk away and document their tactics on every review site I could find.

This. I wouldn’t even bother with them especially since they are new to selling Yamahas (I think) and two of the largest volume dealers in the country right up the road.

 

[Jim_in_Delaware]

That excellent advice. Its also how to negotiate. I had a non-Yamaha option-B sorted out ahead of time.
I pushed back from the table on this deal, then spoke to the sales manager directly and was able to get all concerns resolved to my satisfaction and then moved forward with the improved deal.

That always seems to work best for me. You just have to go into the conversation armed with an understanding of current market condiions.

I got that last part from you guys. Great ROI from my being a member hear only a few days. Looking forward to hanging out with you all more.

Some of you will be spooked by the sales assoc's aggressive position. It doesn't bother me. Its his job to get the best deal he can for his organization and I think he was just a little inartful in his communication style.

I'll post follow-ups if you're curious to see how it all works out.

Cheers
-E

I don't think that any of us are 'spooked' by the sales assoc's aggressive position. It just seems dishonest to some of us. If the dealership treats customers this way when you buy a boat, I wonder what the customer/dealer relationship is like after the sale and they have you money?

Someone correct me if I'm wrong, but my understanding is that you can buy a Yamaha boat from any Yamaha dealer and are not locked into a specific local dealer where you live like with some brands of boat. Is there something special about this dealership to encourage you to buy a boat from them?

In the end, it's your money so spend it where ever you feel comfortable,

Jim

 

[kgower]

Here are the conditions they've offered;

1. Won't take cash. Won't take outside financing. Will only take an order if financed through Yamaha.
2. Won't provide an invoice, just a final price. Price looks to have an additional $2500 dealer fees, beyond the $3500 dealer prep.
3. Won't provide APR or finance contract until after I sign purchase order.
4. The purchase order specifies
   1. Deposit is non-refundable
   2. Specific performance, I am required to purchase the boat. Deposit does not cover liquidated damages for non-performance.
   3. I must carry the financing for a minimum of 12 months

I'll call the sales manager directly and see if there is a non-nonsense deal to be had. Maybe the sales associate is off the leash.

I would walk away from this dealer as fast as you can.

 

[DogDadDave]

Here are the conditions they've offered;

1. Won't take cash. Won't take outside financing. Will only take an order if financed through Yamaha.
2. Won't provide an invoice, just a final price. Price looks to have an additional $2500 dealer fees, beyond the $3500 dealer prep.
3. Won't provide APR or finance contract until after I sign purchase order.
4. The purchase order specifies
   1. Deposit is non-refundable
   2. Specific performance, I am required to purchase the boat. Deposit does not cover liquidated damages for non-performance.
   3. I must carry the financing for a minimum of 12 months

I'll call the sales manager directly and see if there is a non-nonsense deal to be had. Maybe the sales associate is off the leash.

Holy crap. The short of this is that they won't even give you financing terms until you sign an agreement to be sued for damages if the financing terms are unreasonable?

 

[1969mach1]

Holy crap. The short of this is that they won't even give you financing terms until you sign an agreement to be sued for damages if the financing terms are unreasonable?

Yeah, OP has gone silent. Obvious to me he does not want to be talked out of this "deal". LOL, dealer has got this guy right where he wants him. This boat will be $120,000 by the time it arrives which will be sometime in 2023 maybe.

 

[ripler]

Holy shit there are shady Yamaha dealers. They want you to finance so they get their kick back from Yamaha. If you pay cash they will jack up their already outrageous dealer prep fees to cover that kick back, so you are paying one way or another. Yamaha and their dealers are playing a game and I hope it bites them in the ass. For the price of that Yamaha there are plenty of other manufacturers out there. I feel better everyday that I didn't buy a new Yamaha.

 

[Julian]

Also....keep in mind that we have quite a few members here that work for Yamaha (they stay silent and in the background for the most part- but they are there) - so posts like this might end up making their way back to dealer relations people.....which is why naming the dealer makes that easier (but given the location info already posted I'm sure they can narrow it down easily enough!)

 

[Neutron]

Forgive me if i am wrong but dont they charge a financing processsing fee when you go through their financing. I would have to dig up some of my old paperwork to see

 

[EricB]

What I found out is they're getting about $8000 comp for the financing. There would be nothing in the way of my paying off the loan the next day.
They ask that I hold onto it for a year, even if I pay off most of it day one and keep a marginal balance on the loan until the end of the year.

They also gave me a scheduled factory ship date of March 31st for the boat, but they mentioned that it could be late a few months. I'll set my expectation for June 1st and if it happens sooner, then thats great. I probably want to rebuilt the lift and get my seamanship back up to snuff on rental boats while I wait.

Thanks
-E

 

[Tyguy]

Wow, you’re still considering giving money to this dealer. I wish you luck, I really do....

 

[HangOutdoors]

For what you are paying you could pretty much buy the boat from any dealer anywhere for the same or less price, and one whom is not steering you.

 

[adrianp89]

Lol this one leaves me dumbfounded

 

[FSH 210 Sport]

That excellent advice. Its also how to negotiate. I had a non-Yamaha option-B sorted out ahead of time.
I pushed back from the table on this deal, then spoke to the sales manager directly and was able to get all concerns resolved to my satisfaction and then moved forward with the improved deal.

That always seems to work best for me. You just have to go into the conversation armed with an understanding of current market condiions.

I got that last part from you guys. Great ROI from my being a member hear only a few days. Looking forward to hanging out with you all more.

Some of you will be spooked by the sales assoc's aggressive position. It doesn't bother me. Its his job to get the best deal he can for his organization and I think he was just a little inartful in his communication style.

I'll post follow-ups if you're curious to see how it all works out.

Cheers
-E

Inartful? That “sales associate“ is a F*cking crook!

You posted on here asking if this was okay, most all of the posters said to walk away, including me.

 

[HangOutdoors]

I am going to chime in with another two cents and then leave it alone......

These boobs, crooks, whatever will be the dealership that you would probably use to service your boat and do warranty repairs, since most dealership will give you a lesser priority if you didn't buy from them. I wouldn't trust them with my canoe let alone the $100,000k +++ boat or their word on anything. They aren't doing you any favors, or discounts or even trying to. The fact that they are steering you for $8k more in their pocket which does not have your best interest in mind, should be the biggest red flag. Non refundable deposit? A clause for liquidated damages for non-performance on your part but not on theirs??? which the deposit wouldn't cover??? Etc. etc.

I am at a total loss why anyone would even consider such a deal. I will guarantee you that there are honest dealers that will fall all over themselves to sell you a boat without such ridiculous things. What if the boat doesn't show up till 2023's are coming out or next fall?

Hate when people get taken advantage of, but it is your path to travel. Wish you the best on your purchase regardless of where you go

 

[HangOutdoors]

@EricB Here you go bro. It is sitting on their lot right now. Road Trip and I bet you get it cheaper than what you are doing.

Hell if you buy I will hook it up and meet in Kentucky 1/2 way for you. I like road trips!

2022 Yamaha Boats 255XD - Grand Pointe Marina