William Lipovsky
Short Answer — The credit score required for Yamaha financing is at least mid-600; this applies to both the Yahama Credit Card and the company’s installment loan program.
Credit Score Required for Yamaha Financing
Yamaha Motor Finance Corporation offers two types of financing: the Yamaha Credit Card backed by WebBank and an in-house installment loan program.
We contacted Yamaha and WebBank for information on their financing requirements. Both options usually require a credit score of at least mid-600, but may occasionally approve a score a bit lower, representatives said; approval is on a case-by-case basis.
Approval isn’t based solely on your credit score; multiple factors are considered.
If you have a low credit score and you receive approval after applying for Yamaha financing, your APR will likely be higher. The exact percentage will vary not only by your credit score, but also by what unit you’re purchasing and what promotions are available.
Yamaha issues hard credit checks, usually using TransUnion scores to determine an applicant’s creditworthiness.
Note that both the Yamaha Credit Card and the installment loan program strongly prefer that you apply in person at a Yamaha dealer. If you’re in a situation where that’s not possible, you can contact the nearest dealer and they may be willing to work with you.
While you can electronically sign an application, you must be present at the time of purchase.
Yamaha Credit Card
The Yamaha Credit Card is a revolving line of credit for Yamaha customers and is available at participating dealers.
While it’s preferred that you submit your application in person, you can fill out a pre-qualification form online. Once you choose your Yamaha vehicle, you can complete the application at the point of sale.
Approval for the Yamaha Credit Card is immediate. Once you receive approval, your purchase will be complete, and you will receive your credit card in the mail in 10 to 14 days. Cardholders can use the Yamaha Credit Card at any participating Yamaha dealer to purchase vehicles and accessories.
WebBank, which backs the Yamaha Credit Card, also backs other credit cards like the AvantCard and Petal Visa.[1]
Yamaha Installment Account
If you would prefer a one-time loan to a revolving line of credit, you can apply for the Yamaha Installment Program at participating dealers.
As of December 2019, Yamaha manages its installment accounts in-house instead of using a third-party bank.
There are no differences between the Yamaha Credit Card and Yamaha Installment Program with regard to the requirements for approval or the expected interest rates. Yamaha does provide an additional payment estimator tool to assist customers in determining their monthly payments for an installment loan.
Application Requirements
The only difference in the application process between the Yamaha Credit Card and the installment loan program is that you must provide the loan amount in advance when applying for an installment account.
For both credit options, you will need to provide the following information at the time of application:
- Name
- Phone number
- Birthdate
- Current address and how many years you have lived there
- Employment status, including how long you have worked there
- Employer contact information
- Occupation
- Gross monthly income
- Mortgage or rent amount
- Residential status
The above information is required; other information, such as additional sources of income, is optional.
