• Welcome to Jetboaters.net!

    We are delighted you have found your way to the best Jet Boaters Forum on the internet! Please consider Signing Up so that you can enjoy all the features and offers on the forum. We have members with boats from all the major manufacturers including Yamaha, Seadoo, Scarab and Chaparral. We don't email you SPAM, and the site is totally non-commercial. So what's to lose? IT IS FREE!

    Membership allows you to ask questions (no matter how mundane), meet up with other jet boaters, see full images (not just thumbnails), browse the member map and qualifies you for members only discounts offered by vendors who run specials for our members only! (It also gets rid of this banner!)

    free hit counter

Latest offer from Yamaha... 2.99% and 5 years YES

ccrayjr

Jet Boat Addict
Messages
80
Reaction score
14
Points
97
Location
Lake Mitchell, Alabama
Boat Make
Yamaha
Year
2013
Boat Model
Limited S
Boat Length
24
Finance rates continue to stay at all time lows and will continue to do so until the Quantitative easing beings to phase out... this is why stocks dropped today. Wallstreet is afraid of the fed will raise rates with the good jobs news.
1.99% would be a tough call and not out of the question, but I purchased by my a new SUV and got a bank rate at 1.79%. At 1.99% Yamaha is still making money without holding paper!
 

Britboater

Jetboaters Admiral
Messages
1,121
Reaction score
1,021
Points
272
Location
Punta Gorda FL, Abersoch UK
Boat Make
Yamaha
Year
2016
Boat Model
AR
Boat Length
24
I've enquired about the 5 years YES warranty only with a cash deal, no luck, only avaliable with finance :(.
 

msavold

Jetboaters Captain
Messages
764
Reaction score
1,388
Points
237
Location
Columbia, MD
Boat Make
Yamaha
Year
2012
Boat Model
SX
Boat Length
24
Sigh.
Ok, Yamaha, tell you what: let's finance it 100% and you give me the warranty.
And then I'll pay it off in full next week.
(AFAIK there's no penalty for early payout, right?)
 

txav8r

Jetboaters Admiral
Staff member
Administrator
Messages
6,590
Reaction score
3,276
Points
422
Location
Lake Ray Roberts, Texas
Boat Make
Boatless
Year
NA
Boat Model
Other
Boat Length
NA
Finance rates continue to stay at all time lows and will continue to do so until the Quantitative easing beings to phase out... this is why stocks dropped today. Wallstreet is afraid of the fed will raise rates with the good jobs news.
1.99% would be a tough call and not out of the question, but I purchased by my a new SUV and got a bank rate at 1.79%. At 1.99% Yamaha is still making money without holding paper!
I don't think that your comparison is reflective of money to term. Everything is rated differently. Your SUV rates are short term, not 180 months! Money is expected to increase in cost and overdue at that. We have experienced a low interest period that is the first of my entire lifetime, and I am 59 years old. I refinanced my house a few years back at 2.75% for 15yrs, and that rate is equivalent to the rate that my father had on the house when I was born...and I am 59 years old.

My credit union has auto loans for 1.99% and gives another 0.5% off for direct deposit, for an effective rate to members with the best credit, of 1.49%...but the max term is 60 months. But boats, trailers, 5th wheels, are all around 4%. At least through my credit union, mortgages, loans, lines of credit, are all no cost for early payoff. The auto loans are plain old simple interest. 2.99% is an excellent rate for a boat and is being bought down by Yamaha, not the dealer, and GE Capitol isn't offering that rate without the buy down I don't expect. It is part of the incentive, as is the 5 year warranty. The cost of money will go up.
 

007

Jetboaters Captain
Messages
682
Reaction score
926
Points
217
Location
St. Louis
Boat Make
Tige
Year
2015
Boat Model
Other
Boat Length
23
My personal experience is that the effectiveness of the YES warranty starts with how good your dealer is. I bought a boat from a crappy dealer and was lucky to have been adopted by an awesome dealer. I firmly believe the dealer warranty department and/or GM and their relationship with Yamaha make a huge difference in warranty claims.

Personally, if you get the boat show extra long warranty, I think that is bonus. If you had to buy it out of pocket, I am not sure I would.

And rates are subject to change. That said, I have it on pretty good authority Yamaha's rates will go up after March. Would they come back to 1.99% at the end of the year if they need to clear inventory? Maybe, but you lost a season at that point. Choice is yours.

***Remember, Yamaha boat show financing is 0 down for 15 years (pending credit check of course)
 

Murf'n'surf

Jetboaters Fleet Admiral
Staff member
Administrator
Messages
7,095
Reaction score
6,051
Points
527
Location
Naples Florida
Boat Make
Yamaha
Year
2005
Boat Model
SX
Boat Length
23
Let's just look at the cost of a brand new 2005 verses a brand new 2015. Even with slight increases in inflation and added features Yamaha has a huge profit margin in the mid to top tier boats. They can afford longer warranty and lower rate loans to move their products.
 

txav8r

Jetboaters Admiral
Staff member
Administrator
Messages
6,590
Reaction score
3,276
Points
422
Location
Lake Ray Roberts, Texas
Boat Make
Boatless
Year
NA
Boat Model
Other
Boat Length
NA
Let's just look at the cost of a brand new 2005 verses a brand new 2015. Even with slight increases in inflation and added features Yamaha has a huge profit margin in the mid to top tier boats. They can afford longer warranty and lower rate loans to move their products.
Totally agree...but they are also subject to currency market conditions...rates will be going up IMO before they are coming down. Now is the time to buy if your purchasing, waiting will not get you better, again IMO, and this is based what has happened in the boat market since I have been a Yamaha fan. 2008 and 09 left a glut of boats on the market...the best rate they put out to move this glut was 5.99% back then. Rates are as good as they can get and moving north, not south. But hey, my crystal ball has never been very crystal!
 

BoaterGuy

Jetboaters Captain
Messages
734
Reaction score
455
Points
227
Boat Make
Boatless
Year
NA
Boat Model
Other
Boat Length
NA
At current 10 and 30 yr bond rates (2.2%), GE capital would make a +.08% spread on current rates vs. the 2.99% offered. There is no buy down going on.

Short term rates will not go up, I dont care what the media says. The govt cannot afford higher interest rates on our debt. This years projected deficit is up $100 billion YOY to $583 billion. If interest rates spike or "go up gradually," we will not be able to service the debt and will bankrupt the Fed's.

Interest rates will remain low for a long time. There are currency wars going on right now and everyone is racing to devalue. I expect we will have to do the same in near future, which means more QE. (Previously ended in Oct 2014)

http://www.usgovernmentspending.com/federal_deficit_chart.html

22 countries cut their rates across the globe this year.

http://www.marketwatch.com/story/the-currency-wars-have-begun-2015-03-06?link=MW_latest_news
 

BoaterGuy

Jetboaters Captain
Messages
734
Reaction score
455
Points
227
Boat Make
Boatless
Year
NA
Boat Model
Other
Boat Length
NA
I'd also like to point out that purchasing power does not yield the way to higher rates either. If rates go up, prices have to come down as we cannot afford higher rates.

Check out the real median wages. Remember monthly payments are a function of principal plus interest. At the same payment, if interest goes up, the principal must come down. I dont think Yamaha is planning on slashing prices to support higher rates.

 

d_coyne1984

Jetboaters Admiral
Messages
1,015
Reaction score
965
Points
252
Location
Chanhassen, MN
Boat Make
Other
Year
2020
Boat Model
Other
Boat Length
21
My bet is on 2.99% being the best rates you will see and it's really not a bad rate on a loan you can put out for 15 years. I also agree with what a previous user stated and that Yamaha is going to adjust rates lower much like the auto market to move product when there is an over supply and there doesn't seem to be a large quantity sitting around which leaves Yamaha with little incentive to lower rates further. I was pretty damned happy to see 2.99% on my loan last year and as far as I know, that's the lowest rate incentive that was offered all year. You can always shop around for lower rates, but I wasn't able to find anything lower than Yamaha's last year when I purchased.
 

Williamsone46

Jetboaters Captain
Messages
980
Reaction score
954
Points
247
Location
Lehi, UT
Boat Make
Yamaha
Year
2024
Boat Model
255XD
Boat Length
25
You don't have to take advantage of the financing to get the 5 year warranty.

Financing Sales
NEW!
Zero Down and As Low As 2.99% APR for up to 180 Months oac.
* Available with installment financing from Synchrony Financial

Extended Warranty Offer
NEW!
5 Years of Genuine Yamaha Coverage.
· 1 Year Limited Factory Warranty +4 Years Yamaha Extended Coverage=5 Years
g to get the 5 year warranty.
 
Last edited:

BigN8

Jetboaters Admiral
Messages
2,609
Reaction score
5,864
Points
397
Location
Corinth, TX
Boat Make
Yamaha
Year
2010
Boat Model
SX
Boat Length
24
My personal experience is that the effectiveness of the YES warranty starts with how good your dealer is. I bought a boat from a crappy dealer and was lucky to have been adopted by an awesome dealer. I firmly believe the dealer warranty department and/or GM and their relationship with Yamaha make a huge difference in warranty claims.

Personally, if you get the boat show extra long warranty, I think that is bonus. If you had to buy it out of pocket, I am not sure I would.

And rates are subject to change. That said, I have it on pretty good authority Yamaha's rates will go up after March. Would they come back to 1.99% at the end of the year if they need to clear inventory? Maybe, but you lost a season at that point. Choice is yours.

***Remember, Yamaha boat show financing is 0 down for 15 years (pending credit check of course)
I don't have a crystal ball, but I can say when I bought my SX 240 in 2010 I got the 5 year YES warranty and the low interest rate and my purchase was in July. I think it's safe to say you will see the deal again at the end of summer as a push to move boats off the lot before the white stuff starts falling! I do know the incentives are based on stock. When I pulled the trigger this deal was good for all models EXCEPT the 242, that is why I bought the 240, and then just added a tower. Therefore you may see the same deal at the end of summer, but it may have model exclusions....
 

SCSTWG

Jetboaters Lieutenant
Messages
870
Reaction score
387
Points
152
Location
Syracuse, NY
Boat Make
Yamaha
Year
2011
Boat Model
AR
Boat Length
24
Given that I live in the snowiest city in the country (a distinction I do not like or want), I have a hard time finding value in a new boat, so any loan I would be taking would be for a shorter term and a smaller amount (similar to a vehicle purchase) on a used boat. I did run some numbers though as the conversation interested me regarding the 2.99% vs 1.99% given $50,000 borrowed for 15 years. Total monies paid at 2.99% equal $62, 109 and at 1.99% it is $57,874.....a difference of $4235 over the course of the loan. On an annual basis that is $282 savings and on a monthly basis that is $24 savings (assuming all of my math is correct). I don't have a dog in this fight, but I guess each person has to determine if the potential savings are worth waiting for a deal that may or may not ever come along. For me personally, I just need to be comfortable with the deal I get into and I accept it may not be the historical low or that the price might fluctuate (up or down) in the future. We complain when it goes down and we are happy when it goes up. As long as you generally get into decent deals, it probably all averages out over time.
 

Captbob

Jet Boat Junkie
Messages
116
Reaction score
46
Points
127
Location
Malvern, Pa
Boat Make
Yamaha
Year
2010
Boat Model
AR
Boat Length
24
Just a note, GE Capital is now Snychrony Bank. That occurred in July of 2014 as shown on my July 2014 statement.
 
Top