First Associates Loan Servicing LLC., has been selected as the loan servicer for Yamaha Motor Finance, the newly-formed captive for Yamaha Motor Corp. USA (YMUS), it was announced today in a press release.
Yamaha Motor Finance began operations with a small group of dealers this month, according to the release, and will continue rolling out to U.S. dealers throughout this year, “with an initial goal of being in all states by early 2016.”
The captive was created by YMUS to provide financing to underserved nonprime motorsports consumers, as well as provide retail financing solutions that complement the company’s existing arrangements with Capital One Financial Corp. and Synchrony Financial, which offer promotional financing for the purchase of Yamaha’s motorsports, watercraft, and marine products.
“First Associates was the natural choice as our servicing partner as we launch our new business,” said Jeff Young, executive vice president and chief operating officer of Yamaha Motor Finance, said in the release. “First Associates has the expertise, industry-leading technology, and scalability to be able to provide excellent service to our customers as we roll-out Yamaha Motor Finance to dealerships nationally.”
First Associates, based in San Diego, Calif., is the fastest-growing third-party consumer loan and lease servicer in the United States, according to the release.
“We are proud to partner with Yamaha Motor Finance,” Chief Executive David Johnson said. “This new program provides an excellent opportunity to serve traditionally underserved borrowers while expanding access to Yamaha’s most in-demand products. We look forward to growing with them.”
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