WaveRunner guaranteed buyback program launched
Dave McMahon, Editor in Chief
February 14, 2014
Filed under Features
Owners can trade-in or walk away after 36 months
Sign, play, walk away.
That’s the concept behind the industry’s first guaranteed buyback program, launched in December by Yamaha WaterCraft. The program provides buyers of new Yamaha WaveRunners the opportunity to return their WaveRunner to their dealer after 36 months, and simply walk away or easily trade up to a new model.
When a customer purchases a new 2013 or 2014 WaveRunner and finances on a 60-month term, the buyer can now have the option to return the PWC to the originating dealer after 36 months as a guaranteed buyback. The unit will be valued according to NADA standards, and in the event that the customer owes more that the NADA Used Trade-In Value, the remaining loan balance will be paid by Yamaha up to $2,500.
“The idea behind the program is to try to get customers that may be on the fence — they’re maybe not purchasing for whatever reason, whatever barriers might be out there,” said Bryan Seti, Yamaha WaterCraft national marketing manager. “We wanted to make a real easy way for them to join the sport. After 36 months they can simply walk away or buy a new unit. We think there are two customers that this is going to appeal to: the first-time customer who may be on the fence about whether they want to purchase, now that they know they have an out. They may not want to buy for 60 or 72 months when they can just lease the unit. And the second is the high-end customer. Dealers are telling us that a lot of their high-end customers really just want to get a unit and trade it in after 36 months and get the latest and greatest new high-end unit.”
And with customers knowing that negative equity after three years will be paid off at no cost to them if they decide to trade-up or simply walk away, the program is expected to add newcomers to the sport.
“The program allows customers to move in to a new WaveRunner with the least hassle possible,” said Seti. “Now, our customers can enjoy great 60-month financing terms with the peace of mind of knowing that they are only locked in for 36 months with no responsibility for selling their used unit.”