yamaha installment financing - orientation guide installment financing - orientation guide we’re...

202-290-00 Rev June 2014

Yamaha Orientation GuideCredit extended by Synchrony Bank

Yamaha Installment Financing - Orientation Guide

We’re delighted to help you help your

customers!

- 21Yamaha Orientation Guide

Powersports and Marine Orientation Guide Table Of Contents

Pages with a symbol contain important compliance information.

Throughout this document we have included images of some Synchrony Bank materials and web pages. These images are only used for representations, not content, therefore they are marked SAMPLE and the actual versions may be slightly different from what you see in the guide.

1 Telephone Numbers, Addresses, And Forms ............................. 3

2 Program Details ........................................................................... 7

3 Processing A Loan Application .................................................. 17

4 Processing A Loan Contract ....................................................... 23

5 Processing A Loan Contract For Funding .................................. 27

6 Installment Contract Funding Checklist ..................................... 29

7 Titling ............................................................................................ 31

8 Payoffs Of Existing Contracts .................................................... 37

9 Consumer Repossession Procedures ......................................... 39

10 Miscellaneous .............................................................................. 43

11 Fair Lending Requirements ......................................................... 47


Telephone Numbers, Addresses, And Forms


My Yamaha Installment Financing Dealer Number is: 120 ___ ___ ___ ___ ___ ___ (120 + 6-digit Yamaha number)

DEALER PHONE NUMBERSYamaha Installment Financing Credit CenterApplication Status 1-888-6-YAMAHA, option 1Funding 1-888-6-YAMAHA, option 2Web Help Desk 1-888-6-YAMAHA, option 3Customer Service/Payoff information 1-888-6-YAMAHA, option 4Titling 1-888-6-YAMAHA, option 5Advertising Opt Out 1-888-6-YAMAHA, option 7

Faxed Applications 1-866-405-9648

Fax Funding 1-866-405-9647

Repossessed Vehicles/CollectionsPhone 1-800-213-5077Fax 1-800-292-4582

Yamaha Installment Financing Forms FulfillmentFax 1-866-699-1030

Yamaha Dealer System (YDS) 1-800-854-4876

Yamaha Financial Services 1-800-355-5218, option 1

CUSTOMER SERVICE PHONE NUMBER 1-877-314-1507

Telephone Numbers, Addresses, And Forms


IMPORTANT ADDRESSES

First Class Mail Overnight Mail Option

CONTRACT FUNDING CONTRACT FUNDINGSynchrony Bank Synchrony BankGER102—Funding GER102—Funding900 Concourse Drive 900 Concourse DriveRapid City, SD 57703 Rapid City, SD 57703

CUSTOMER PAYMENTS CUSTOMER PAYMENTSSynchrony Bank Synchrony BankP.O. Box 530912 485 Lake Mirror Rd. Suite 700Atlanta, GA 30353-0912 Atlanta, GA 30349-6057

CUSTOMER PAYOFF AMOUNT CUSTOMER PAYOFF AMOUNTSynchrony Bank Synchrony BankOH3-4272 OH3-4272 950 Forrer Blvd. 950 Forrer Blvd.Kettering, OH 45420-1469 Kettering, OH 45420-1469

TITLING / LIENHOLDER Loss Payee InformationSynchrony Bank Synchrony Bank332 Minnesota Street PO Box 6163Suite W600 Rapid City, SD 57709St. Paul, MN 55101

Telephone Numbers, Addresses, And Forms (Cont.)


FORMS

In an effort to simplify the forms ordering process and offer better service, the Yamaha Installment Financing program has a fulfillment house to stock all forms and ship them to you.

Dealers can order supplies directly from the supply warehouse by logging on to YDS and visiting the “Tools” section on the menu bar. If you wish to order supplies by fax, below is a “Yamaha Installment Supply Order Form” which should be utilized in placing orders for Yamaha Installment Financing forms.

Fax your Forms Request to: 1-866-699-1030

Upon receipt of your forms order, the fulfillment center will ship your order via regular ground delivery (UPS or similar service).

Please photocopy this page prior to use.

Telephone Numbers, Addresses, And Forms (Cont.)

Yamaha Installment Supply Order Form Date:

Dealer Name:

Dealer Number:

Address:

Dealer Phone:

City: State: Zip Code:

Item Pkg. Qty. Form Number Quantity Requested Installment Padded Application 25 per pad 60031-002-0980 Installment Contract—Utah 10 pack 201-894-00

ORDER BY FAX, ANY DAY Fax: 1-866-699-1030


Program Details


Refer to the Yamaha Installment standard Powersports program rate sheet for appropriate rates and terms. Rate sheets can be located on YDS under the tabs “Office” – “Retail Finance” – “Promotions/Rates”Credit Tiers are based upon an individual’s creditworthiness

Dealer Rebate ■■ Dealers will have the ability to earn an automatic rebate based on the loan amount when

writing a contract at the standard buy rate only when a Yamaha sponsored promotion is NOT available.

Loan Amount Dealer Rebate$5,000 - $7,499 1%

$7,500 - $14,999 1.5%> $15,000 2%

■■ Dealer rebates are paid based on the contract amount financed and paid to the dealer at the time of funding.

■■ Refer to the Yamaha Installment standard Powersports program rate sheet for complete details. Note: The Yamaha Installment Financing program may recover Dealer Rebates paid with respect to any loan that is repaid or written-off within six (6) months of the funding date

Standard Program Terms■■ New and Used units up to 60 months (72 months for Side X Side’s) on Tiers 1-3.■■ New and Used units up to 48 months (60 months for Side X Side’s) on Tiers 4-5.■■ 12 month term extensions available on new and used Yamaha Side X Side loans qualifying at

Tiers 1-3 with .50% increase to the approved base APR.■■ Each approval will provide complete details

Down Payment Requirements■■ Customers in all Tiers will have a Zero to 10% down payment requirement determined by an

applicant’s creditworthiness

Authorized Powersports Products■■ “Authorized Powersports Products” means New and Used Yamaha™ motorcycles, all-terrain-

vehicles, side x side, snowmobiles, personal watercraft, golf cars, and generators. New products consist of the current model year plus the prior five years.

■■ Used Yamaha™ products must be titled and consist of the current model year plus the prior six years.

■■ Used non-Yamaha™ products are qualified, provided that they are traded in for the purchase of a new Yamaha™ product.

Powersports – Yamaha Product


Minimum and Maximum Financed Amounts■■ Minimum amount financed on the Powersports program is $5,000■■ Yamaha Installment Contracts may be written for 90% - 100% of unit MSRP depending on

down payment requirement PLUS tax, title, document fees, freight and set up, warranties and dealer installed accessories. The combination of backend products such as extended service plans, GAP, pre-paid maintenance agreements, and soft good accessories can be financed up to 15% of the unit cash sales price. Up to $400 max for doc prep fees and up to $800 max for freight & set up per unit financed.

■■ An additional $200 is available for trailer freight and set up■■ For used products, contracts may be written for an advance equal to 90% - 100% of NADA

average retail value depending on down payment requirement.■■ Contracts that include Yamaha Extended Service (Y.E.S.) and/or Yamaha Pre-Paid

Maintenance may exceed the maximum financed amount by $1,000 per unit■■ Each approval will provide complete details

Amount Financed May Include: • Yamaha and other Synchrony Bank approved extended service contracts • Gap insurance Amount Financed May Not Include: • Vehicle Insurance • Non Synchrony Bank or Yamaha approved extended service plans or extended warranties • Non Synchrony Bank or Yamaha approved insurance products

Back-end Products ■■ The combination of back-end products such as Yamaha Extended Service (Y.E.S.), other

extended service plans, GAP, pre-paid maintenance agreements, and soft good accessories can be financed up to 15% of unit cash sales price.

Annual Percentage Rate (APR)■■ The APR quoted to you by the Yamaha Installment Financing credit center will be based on the

credit worthiness of the applicant(s). The APR stated on the application faxed back response or Internet response page to your dealership is the APR approved for that customer. Based on credit scoring, on occasion there may be stipulations that will need to be met for the APR to be guaranteed.

Application Requirements and Details■■ Age of applicant and joint applicant (if applicable) is 18 years or older.■■ Applicant(s) will be evaluated on credit worthiness.■■ If approved, the “APR,” the “down payment requirement,” and the “amount financed”

assignment will differ based on credit worthiness.■■ Each dealer will get a fax back or Internet response to the dealership location with each loan

decision. The fax back or Internet response will include the customer’s credit limit. ■■ Declined applicants will receive a letter explaining the reasons for decline within 14 days and should

not call the Yamaha Installment Financing credit center to discuss the decline prior to that time. ■■ Refer to page 8 in this guide for a list of Authorized Products.

Powersports – Yamaha Product


Refer to the Yamaha Installment standard Cruiser program rate sheet for appropriate rates and terms. Rate sheets can be located on YDS under the tabs “Office” – “Retail Finance” – “Promotions/Rates”Credit Tiers are based upon an individual’s creditworthiness

Dealer Rebate ■■ Dealers will have the ability to earn an automatic rebate based on the loan amount when

writing a contract at the standard buy rate only when a Yamaha sponsored promotion is NOT available.

Loan Amount Dealer Rebate$5,000 - $7,499 1%

$7,500 - $14,999 1.5%> $15,000 2%

■■ Dealer rebates are paid based on the contract amount financed and paid to the dealer at the time of funding.

■■ Refer to the Yamaha Installment standard Cruiser program rate sheet for complete details. Note: The Yamaha Installment Financing program may recover Dealer Rebates paid with respect to any loan that is repaid or written-off within six (6) months of the funding date

Standard Program Terms■■ New and Used units up to 72 months on loans qualifying at Tiers 1-3.■■ New and Used units up to 60 months on loans qualifying at Tiers 4-5.■■ 12 month term extensions available on new and used Cruiser loans qualifying at Tiers 1-3

with .50% increase to the approved base APR.■■ Each approval will provide complete details.


applicant’s creditworthiness.

Authorized Cruiser Products■■ “Authorized Cruiser Products” means Yamaha or Yamaha Star branded Touring and Cruiser

motorcycles. New products consist of the current model year plus the prior five years. ■■ Used Yamaha™ products must be titled and consist of the current model year plus the prior

six years.■■ Used non-Yamaha™ products are qualified, provided that they are traded in for the purchase

of a new Yamaha™ product.

Cruiser Program – Yamaha & Star Products


Minimum and Maximum Financed Amounts■■ Minimum amount financed on the Cruiser program is $5,000■■ Yamaha Installment Contracts may be written for 90% - 100% of unit MSRP depending on

down payment requirements PLUS tax, title, document fees, freight and set up, warranties and dealer installed accessories. The combination of backend products such as extended service plans, GAP, pre-paid maintenance agreements, and soft good accessories can be financed up to 15% of the unit cash sales price. Up to $400 max for doc prep fees and up to $800 max for freight & set up per unit financed.

■■ An additional $200 is available for trailer freight and set up■■ For used products, contracts may be written for an advance equal to 90% - 100% of NADA

average retail value depending on down payment requirement.■■ Contracts that include Yamaha Extended Service (Y.E.S.) and/or Yamaha Pre-Paid

Maintenance may exceed the maximum financed amount by $1,000 per unit.■■ Each approval will provide complete details.



extended service plans, GAP, pre-paid maintenance agreements, and soft good accessories can be financed up to 15% of unit cash sales price.


credit worthiness of the applicant(s). The APR stated on the application faxed back response or Internet response page to your dealership is the APR approved for that customer. Based on credit scoring, on occasion there may be stipulations that will need to be met for the APR to be guaranteed.




not call the Yamaha Installment Financing credit center to discuss the decline prior to that time. ■■ Refer to page 10 in this guide for a list of Authorized Products.

Cruiser Program – Yamaha & Star Products


Refer to the Yamaha Installment Marine rate sheet for appropriate rates and terms. Rate sheets can be located on YDS under the tabs “Office”-- “Retail Finance” --“Promotions/Rates”Credit Tiers are based upon an individual’s creditworthiness

Dealer Rebate

Effective 2/12/2014 the Yamaha Installment program is currently not paying a dealer rebate on standard Marine new and used contracts. Please refer to the standard Marine rate sheet for new rates and program details.


the applicant’s credit worthiness■■ No portion of the down payment may be financed on the Yamaha Installment Financing

program

Authorized Marine Products■■ “Authorized Marine Products” means Yamaha™ brand boat hulls, loose engines and trailers

(whether sold together or separately), other boat hulls sold and powered with Yamaha™ brand engines, and other engines sold with Yamaha™ brand boat hulls. New units consist of the current model year plus the prior 5 model years. Used units consist of the current model year plus the prior 9 model years.

Used Marine Rates■■ For used Marine rates add a 1.00% rate bump to the current new unit rates listed on the

standard Marine rate sheet located on YDS.

Marine Program – Yamaha Products


Minimum and Maximum Financed Amounts■■ Minimum amount financed on the Marine program is $10,000.■■ For new Yamaha Marine products, contracts for Tiers 1-2 may be written for 125% of

manufacturer invoice, Tiers 3-5 contracts may be written for 115% of manufacturer invoice. PLUS tax, title, document fees, freight and set up, warranties and dealer installed accessories. The combination of backend products such as extended service plans, GAP, pre-paid maintenance agreements, and soft good accessories can be financed up to 15% of the cash sales price (CSP) of the unit. Up to $400 max for doc prep fees and up to $1800 max for freight & set up. Fees may not exceed state specific maximums.

■■ An additional $200 max is available for boat trailer freight and set up■■ For used Marine products, contracts for Tiers 1-2 may be written up to 125% of NADA used

trade-in value, Tiers 3-5 contracts may be written up to 115% of NADA used trade-in value. ■■ Contracts that include Yamaha Extended Service (Y.E.S.) may exceed the maximum financed

amount by $1500.■■ Each approval will provide complete details.



extended service plans GAP, pre-paid maintenance agreements, and soft good accessories can be financed up to 15% of unit cash sales price.


credit worthiness of the applicant(s). The APR stated on the application faxed back response or Internet response page to your dealership is the APR approved for that customer. Based on credit scoring, on occasion there may be stipulations that will need to be met to for the APR to be guaranteed.




not call the Yamaha Installment Financing credit center to discuss the decline prior to that time.

Marine Program – Yamaha Products


Yamaha will provide advertising slicks and advertising disclosures to be used in connection with any finance promotions on the Yamaha Installment Financing program. If you wish to develop additional independent credit advertising, you should direct particular attention to the credit disclosures to ensure compliance with applicable requirements.Synchrony Bank has created a closed-end credit advertising manual, which provides suggested models of financing promotional advertising for the Synchrony Bank closed-end credit program. The manual may be accessed via the Yamaha Installment Financing link on the Yamaha Dealer System (YDS), or you may contact Yamaha Financial Services at 1-800-355-5218, option 1, for appropriate advertising disclosures.The closed-end credit advertising manual provides the following information: 1) Sets forth general credit promotion advertising guidelines; 2) Identifies the types of promotional sales programs that are available and describes the characteristics and distinguishing features of these programs; 3) Provides sample headlines and disclosures for each promotion type.IMPORTANCE OF PROPER DISCLOSURE AND COMPLIANCE PROCEDURESIt is important for you to understand that compliance with law and regulations and the assurance of clear and effective communication is the ultimate responsibility of the Dealer. The guidance that is provided in the Manual is intended to facilitate and encourage best and fully complaint practices by its Dealers. However, the material in the Manual is not legal advice and should not be relied upon as such by Dealers, nor may Dealers rely on Synchrony Bank employees for such advice.Synchrony Bank attaches paramount importance to clear and complete presentation of its credit products to customers by the client Dealer (or its own employees in those instances when Synchrony Bank prepares and runs credit promotional advertising). It is never acceptable or appropriate to fashion a sales strategy or to attempt to make a sale based on customer confusion or misunderstanding. Synchrony Bank believes that it is critically important that each Dealer maintain its own system of compliance and oversight to assure best practices and full compliance in connection with promotional sales programs.However, Dealers must recognize that if they require legal advice, including rules to follow in meeting federal and state law advertising requirements relating to false or misleading claims or any other subject, such advice must be obtained from their own attorneys, since Synchrony Bank cannot provide legal advice or direction to any outside entity.Fair Lending Advertising and Marketing by Clients Dealers may prepare their own advertising and marketing materials for television, internet, newspapers, radio, direct mail, telemarketing and other purposes so long as they satisfy advertising standards and the materials comply with credit advertising requirements as required by law. Advertising and marketing guidelines are provided by Synchrony Bank to instruct and train your company and its employees to properly develop advertising and marketing that complies with such legal requirements. If your company decides to develop its own advertising and/or marketing materials, then the Synchrony Bank guidance should be followed.

Advertising Disclosure—Closed-End Financing


To comply with fair lending laws, your company should make certain to observe in any advertising and/or marketing materials it prepares the following: Do not use any language, photos or images in advertising or marketing that could imply racial or ethnic preferences or limitations. For example, using pictures of only white consumers may imply that minority consumers are less desirable as credit applicants.

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Processing A Loan Application


STEP ONE—Customer to Complete the Application■■ Have the consumer read the Disclosures on the Installment Consumer Loan Application.■■ We can only accept Yamaha Installment Financing/Synchrony Bank applications.■■ The “Applicant” section contains personal information as well as important financial

information. This section must be fully completed.■■ The “Joint Applicant” section contains personal information on the joint applicant and needs to

be completed only if two people are applying for credit.■■ Be sure the applicant signs the application. If there is a joint applicant, both people must sign

the application. ■■ Salesperson must verify proper customer identification. Two pieces of ID are required.

Following are the ID Requirements:

Valid IdentificationYou must check one Primary and one Secondary ID, or two Primary IDs for every applicant and co-applicant.Primary State or government issued non-expired IDs (Driver’s License, Passport, Military ID,

or Government issued Green/Resident Alien card)Note: When using a passport, use state of residence. When using a military ID, the expiration is the date on the top right.

Secondary Major Credit and Debit Cards (VISA, MasterCard, American Express, Discover) Department Store Cards, or Gas Cards with the applicant’s name and an expiration date (non-expired). Gift cards and pre-paid cards are not acceptable.

Note: Synchrony Bank does not require or advocate the photocopying of customer identification.Guidelines for Acceptable Applicant Identification (ID)The identification requirements are intended to reduce the occurrences of fraudulent applications by verifying the true identity of the applicant(s). If two (2) forms of valid identification are obtained, listed on the application, and verified at the point of sale, this will assist in protecting you against fraud and possible chargebacks. Photocopies of the IDs are not required to be sent to the Yamaha Installment Financing credit center.All identification is subject to a validity check.Acceptable forms of identification are listed above and may include one primary ID and one secondary ID*, or two primary IDs. Identification requirements for joint applicant include one primary ID and one secondary ID.*Credit cards may be accepted as secondary identification (if offered by the customer and if permitted by the laws of your state), but may not be a required form of identification. Do not record the account number; include only the type of card and its expiration date. Please review and comply with your state’s identification requirements. IF THE DEALERSHIP EMPLOYEE FAILS TO OBTAIN TWO PIECES OF VALID ID ON THE APPLICATION, AND THE APPLICATION IS LATER IDENTIFIED AS FRAUDULENT, THE DEALERSHIP WILL BE CHARGED BACK FOR THE AMOUNT OF THE LOAN BALANCE.

Processing A Loan Application


STEP TWO—Review the Application for Completeness:Carefully review the entire application, making sure that all of the requested information is included and accurate to ensure you get the fastest decision possible. At this time you must verify the customer’s information and signature against their driver’s license, or another state or federally issued picture identification form (if allowable in your state). This also applies to joint applicants.

STEP THREE—Complete and Submit the Application:Submit the application to the Yamaha Installment Financing credit center using YDS or Fax.

1. Internet application processing is available during normal hours of operation:• Within the YDS Computer System, click on the Yamaha Installment Financing link.• Internet Explorer 5.0 or higher is required for the Internet site.• The application template follows the Customer Application format.• For questions, training, and support regarding the web, call 1-888-6-YAMAHA, option 3,

between 8 AM and 5 PM Monday through Saturday (PST).• Applications can be submitted via YDS on Sunday’s and if system approved you can

proceed with contracting requirements. In the event the application needs to be reviewed by a loan processor you will be notified of the decision at the start of business on the next available business day.

–Or– 2. Fax the application to 1-866-405-9648.

• Faxed applications will be received Monday through Saturday between the hours of 6 AM and 7 PM (PST). Applications faxed on Sunday will be processed at the start of business on the next available business day.

• Decisions on faxed applications will be communicated back to your store location, usually within 20 minutes during hours of operation.

Note: Each dealer will get a fax back return communication to his or her dealership location with each loan decision, regardless of method of entry. The fax back will include a field called “Amount Financed” on approved applications.We are unable to share decline reasons with you, the Dealer, at any time. The consumer will receive the letter, as referenced above that outlines the reasons they were not approved.

STEP FOUR—Additional Information May Be Needed:From time-to-time, the Yamaha Installment Financing credit center may request that you provide proof of a customer’s employment, income and/or address. In these cases, have your customer provide you with a paycheck stub showing the customer’s name or social security number, current pay period earnings, and a year-to-date total with their employer’s name, or their most recent W2 Form. For address verification, make a copy of the applicant’s identification (if allowable in your state) and send it to the Yamaha Installment Financing credit center with the loan contract. Applicants who indicate that they are “self-employed” may be asked to provide two years of tax returns.


After receiving this documentation, compare it with the information on the customer’s application. If the information does not match, ask the customer to explain the difference and then call the Yamaha Installment Financing credit center to discuss.

Note: If you submit information to the Yamaha Installment Finance credit center that does not correspond to what is shown on the application, the application may not be approved and/or the contract may not be funded.

FAIR LENDING REQUIREMENTS

Taking and Processing Applications All consumers should be encouraged to complete and submit applications for credit. Do not discourage anyone from submitting an application, either through oral statements, body language, delays or discourtesy. Also, make certain that employees provide a consistent level of service in responding to questions from consumers about the availability of credit and/or completing the application. Responding to Credit Application Inquiries Your employees should provide Synchrony Bank credit application forms to consumers and may assist consumers with the logistics of completing of the application (e.g. asking the application questions if the employee enters the information into a point-of-sale terminal, etc.). Questions concerning how to complete the application should be answered as follows:

Q: Should my spouse sign the application too?

A: Your spouse should sign the application only if he/she is a co-applicant and wishes to be obligated to repay the debt. It is your choice to have a co-applicant.

Q: Do I have to report alimony or child support as income?

A: Alimony, child support or separate maintenance payments do not need to be disclosed unless you want you want this income to be considered. Any questions regarding the credit program should be referred to your Synchrony Retail Bank representative.


If Fraud is suspected, contact Synchrony Bank Merchant Services immediately at 888-692-6242. You can tell the Client Services representative that you have a “Code 10.” This is to avoid alerting the customer that you suspect a possible fraud situation. Several pieces of information will be verified and the representative may request to speak to the customer to verify information listed on the application matches that found in credit bureau. Here are some common warning signals that may indicate a possible fraud situation:

■■ Customer’s ID is altered, cut, taped, etc.■■ Signature on receipt or application doesn’t appear to match signature on ID■■ Photo on ID doesn’t look like the customer■■ Customer’s address doesn’t match their driver’s license state■■ The purchase size, quantity, etc. seems abnormal (e.g., multiple purchases of the same item)

Remember YOU are the first line of defense against fraud. Be alert at all times!

Prevent Fraud


Processing A Loan Contract


All states will use the Synchrony Bank Loan Contract and Security Agreement. The steps necessary for completing the Loan Contract are as follows:

A. FILL IN THE BORROWER AND CO-BORROWER’S NAME AND ADDRESS

B. PURCHASE MONEY LOAN AND SECURITY INTEREST: Fill in the loan maturity date that the customer will pay the complete loan amount.

C. DESCRIPTION OF UNIT PURCHASED: Select whether the unit is new or used, enter the year, make, model, unit/hull identification number, and term of extended service plan if applicable.

D. ITEMIZATION OF AMOUNT FINANCED: Section (4.1). Amount Paid to Others on Your Behalf: 1A. To—Insert your Dealership name

■■ For Unit—This is the total cost of the vehicle (excluding freight and set up) at the time of purchase.

■■ Freight and Set Up— This is the total cost of freight and set up■■ Accessories— Enter the total amount of all accessories to be financed.■■ Dealer Document Preparation Fee—Enter the amount charged for document

preparation here, only if it is your practice to charge doc fees on all transactions, both cash and credit. $400 is the maximum amount allowed. It is the dealer’s responsibility to know and comply with any limit in your state.

■■ Less Down Payment/Trade-In Amount—Enter the amount of the down payment/trade in. This amount should be subtracted when figuring the amount financed.

■■ Sales Tax—Enter the amount of the sales tax.■■ To ______________—Enter the name of the company providing the extended warranty

and the amount of the warranty.■■ To ______________—Enter the name of the company providing GAP protection and the

amount of GAP coverage.■■ To ______________—Enter the name of the company providing Tire Guard protection

and the amount of Tire Guard coverage.■■ To ______________—Enter the name of the company providing the Warranty and the

amount of Warranty coverage.

1B. To Public Officials This section is for amounts paid to Public Officials for Title and Registration of Vehicles including titling fees, licensing fees, registration fees, lien notation fees, filing fees and Doc Stamp fees for those states where a Doc Stamp Fee is applicable.

1C. To ______________ for ______________. Amount of any miscellaneous fees paid to public officials as part of the vehicle purchase.

Subtotal Add a + b + c.

Processing A Loan Contract


2. To Lender■■ Origination Fees—This section should be left blank on all contracts. This section is

provided for future use.■■ Subtotal—Add all lines under 2.

3. Total Loan Amount■■ Add Subtotals 1 + 2.

4. Less Prepaid Finance Charge(s)■■ List the Prepaid Finance Charge Subtotal from Section 2.

5. Amount Financed■■ Subtract 4 from 3.

F. TRUTH IN LENDING DISCLOSURES (TILA):1. Enter the approved Annual Percentage Rate (APR) in the first box.2. Enter the total finance charge into the second box. To calculate the total finance

charges, use the Yamaha Installment Financing Calculator button on the Installment Financing website, or a financial calculator.*

3. Enter the Amount Financed from Section 4.5 into the Amount Financed box.4. Add the Amount Financed and the Finance Charge to determine the Total of Payments,

and enter that amount into the box titled Total of Payments.5. Enter the term of the loan into the Number of Payments box.6. Enter the monthly payment from the website or financial calculator* into the Amount of

Payments box.7. Enter the First Payment Due Date into the When Payments are Due box.8. Enter the Contract Rate Per Year % (APR + any pre-paid fees if applicable)

When determining the customer’s first payment, the payment must be at least 30 days, but must not exceed 45 days, from the date of the loan contract. If the due date for the first payment is more than 30 days from the date of the contract, the finance charge will be required to disclose the interest accrued for the additional days between the date of the contract and the date that is 30 days before the first payment.

*How to Calculate the Correct Loan Terms Yamaha Installment Financing recommends going to the website in order to accurately compute the customer’s monthly payment, finance charges, and total of payments based on the APR assigned at time the of approval and term of contract determined by the customer. If you do not have a PC with Internet access, you may use a variety of other options, such as a hand held financial calculator, to determine accurate loan variables.

Promotion Fill in the correct financing plan

GAP Disclosure Complete this section if the contract has GAP coverage financed in the loan amount.


G. BORROWER SIGNATURES: Hand the completed contract to the borrower (and to the co-borrower, if any) for the borrower’s and co-borrower’s review. If the borrower (or co-borrower) would like to take the contract home and review it, and then return it to the dealership, you may either give the borrower the original contract to take home, review and return, or make a copy of it (including reverse side and all legal terms). Once the borrower has received and had an opportunity to review the contract, have the borrower (and co-borrower, if any) complete and sign the bottom of the contract.

H. COPY DISTRIBUTION:Distribution of carbon contract copies:Original .....................Yamaha Installment credit centerWhite Copy ...............Yamaha Installment credit centerPink Copy .................CustomerGold Copy .................DealerBlue Copy .................Customer (Privacy Policy)

Distribution of web contract copies (print two copies):Original.......................Dealer (Fax to Synchrony Bank)2nd Copy................…..Customer (including Privacy Policy)

I. Complete the Yamaha Contract Funding Checklist (see sample checklist on page 5.2)

J. Fax completed Loan Packet to 1-866-405-9647 If faxing, it is not necessary to mail the originals; however, it is necessary to retain the original signed contract and application for the term of the loan. -OR-Mail completed Loan Packet for Contract Funding to:

Synchrony BankC/O GER102—Funding900 Concourse DriveRapid City, SD 57703


Processing A Loan Contract For Funding


A. The following documents will be needed by the Yamaha Installment Financing credit center to ensure proper funding:

■■ Completed original application with borrower and joint applicant signatures (if applicable)■■ Loan Contract (white original and white second copy)■■ Signed copy of the multiple offer disclosure form (if applicable)■■ Customer signature on both pages of the Risk Based Pricing disclosure forms (if

applicable)■■ Copy of the vehicle/unit sale document, showing the VIN number, model, model number,

purchase price, down payment or trade-in (if applicable), with freight and accessories listed separately

■■ Copy of completed funding checklist. The Dealer funding checklist is located at the back of this document for easy copying.

■■ Proof of Lien Perfection in the customer’s state of residence—see Titling, section B for specific requirements.

There is no insurance requirement for Yamaha Installment Financing.

B. Fax all of the above that apply for Loan Funding to 1-866-405-9647. If faxing, it is not necessary to mail the originals; however, it is necessary to retain the original signed contract and application for the term of the loan.

-OR-Mail completed Loan Packet to:Synchrony BankC/O GER102—Funding900 Concourse DrRapid City, SD 57703

C. Funding: Once the loan forms and related documents are received and approved, the Yamaha Installment Financing credit center will deposit funds into your account via ACH from Synchrony Bank. The Yamaha Installment Financing credit center will send you a Funding Summary detailing all transactions every day. Note that once the ACH request has been submitted it will be approximately 48 hours before the funds are credited to your account. New Dealers Note: During the first 10 days that you are actively enrolled in the ACH program, the Yamaha Installment Financing credit center will send a $0 transaction to your bank account to make sure that we are funding the correct bank account. Should you send us any loan contracts during this 10 day period; we will fund you with a check. After the initial 10-day test, we will fund all loan contracts via ACH. If you would like to find out more about ACH, please call the Yamaha Installment Finance credit center at 1-888-6-YAMAHA, option 2.

Processing A Loan Contract For Funding


Installment Contract Funding Checklist


YAMAHA INSTALLMENT CONTRACT FUNDING CHECKLIST

TODAY'S DATE:__________________________ INSTALLMENT DEALER NUMBER: ________________________

APPLICATION NUMBER:_____________________ CUSTOMER'S NAME:__________________________________

REQUIRED FOR FUNDING Incomplete loan packages will delay funding!

Application – Signed and dated Yamaha Installment Finance Application

Contract - Signed and dated Synchrony Bank Powersports Consumer Installment Contract

Offer Disclosure Form - Signed and dated

Risk Based Pricing Credit Disclosure - Initialed and signed (if applicable to selected offer)

Title Application & VIN Verification New Units:

o Copy of Title Application with the following lien holder address below o MSO (front and back), Manufacturer Invoice, or Pre-printed Warranty Card as VIN verification

Used Units:o Copy of Front and Back of Title and Title Application with the following lien holder address below

SYNCHRONY BANK C/O 332 MINNESOTA ST. W600 ST. PAUL, MN 55101 Important: SYNCHRONY BANK must be written exactly as shown Important: Only those borrowers on the contract can be placed on the Title application and back of MSO/TitleImportant: A UCC statement is required for non-titled units on loan amounts greater than $20,000

Bill of Sale or Purchase Order – Itemized, listing down payment, freight, accessories & trade-in (if applicable)

o Verify that all figures on the Bill of Sale or Purchase Order match with the itemized Installment Contract

Important: Purchase of multiple units with like terms can share one contract Important: Purchase of multiple units with different terms must be financed on individual contracts

Warranty Agreement/GAP Contract – signed and dated copy of GAP disclosure (if applicable)

Pre-Paid Maintenance Contract – signed and dated copy (if applicable)

VERIFY THE FOLLOWING: All loan approval stipulations have been met as provided on the approval letter and YDS

Applicant and joint applicant's (if applicable) drivers license(s) verified at POS and recorded on application

Secondary ID verified, source and expiration date recorded on application (does not have to be picture ID)

PLEASE FAX OR MAIL COMPLETE LOAN PACKAGE & CHECKLIST TO: 1-866-405-9647

If faxing, it is necessary to retain the original, signed contract for the term of the loan

U.S Mail and Overnight Deliveries Synchrony Bank c/o RAP102 - Funding 900 Concourse Drive Rapid City, SD 57703

Funds will be deposited into your account via ACH after Synchrony Bank receives the completed loan package

Should you have any questions, please contact 1-888-6-YAMAHA, Option 2

Rev. 6/2014


Titling


A. TITLING / LIEN REQUIREMENTS

Dealers are required to file title/registration paperwork, with Synchrony Bank as the lien holder/secured party, based on the terms of the Dealer Agreement for the Yamaha Installment Finance program.

Definitions:

Title: a document, issued by a state agency (i.e. DMV), which shows legal ownership of a vehicle/watercraft

Registration: a document, issued by a state agency, which provides the ability to use the vehicle/watercraft on state roads/waterways

When a vehicle or watercraft is financed, the bank or finance company is listed on the title as the lien holder and most states send the title to the lien holder to hold until the loan is paid in full.

The following guidelines should be followed when preparing the title work, based on the titling requirements for the customers residing state, or state in which the collateral will be located:

TITLED PRODUCTS

General Titling Requirements:

■■ A title is required to be submitted to the state agency, with Synchrony listed as the lien holder, if the amount financed is equal to, or greater than $5,000, within 30 days of financing, based on Federal Law. *Note: If titling is an option in your state, Synchrony Bank requires the unit to be titled.

■■ Please ensure that the following name and address are listed on the lien holder section of the title request:

Synchrony Bank C/O 332 Minnesota St. Suite W600

St. Paul, MN 55101

■■ Several states require a lien holder code on the title application to ensure proper recording. Please see the Lien Holder Code Chart on the Synchrony website on YDS under the “Tools” menu.

■■ All information on the Title Application, front and back of MSO, Certificate of Origin or previous title must be accurate.

■■ Dealers are not required to be licensed in each state to finance tax, title, registration, and lien fees into the contract for out of state customers. A license is also not required to file a title in a state other than the dealer’s state, with the exception of Mississippi.

Titling


■■ Fee information can be obtained by contacting the appropriate state agency for any state directly for a fee quote. They may request a faxed copy of the Bill of Sale in order to provide accurate information.

■■ Title information and forms are available from all state agencies via the internet or phone.

State Specific Titling Requirements:

■■ The following states require title/registration/lien be applied for at the county level: AL, CO, FL, GA, IA, KY, MS, MT, NE, ND, OH, OK, SD, TN, TX, WY

■■ The following states require the customer to file for title, however the dealer is required to file additional documentation, to ensure Synchrony Bank’s placement on title when processed: AR, KS & MO

■■ To file a lien in KS, a Notice of Security Interest must be submitted

■■ To file a lien in KY, a Title Lien Statement must be submitted

■■ To file a lien in OK, a Notice of Lien must be submitted

■■ AR, CO, LA, NE, OH, WY require a copy of the security agreement for verification of lien

■■ AK requires the customer to submit the tilting paperwork directly to a Motor Vehicle Office

■■ New York State: Instate Dealer must record the lien on the Application for Title/Registration. Please make sure to list the lien holder code plus Synchrony Bank with complete address information and inform the DMV clerk processing the documents that there is a lien to be recorded.

■■ New York State: Out of State Dealers must submit the Notice of Lien form with completed customer information, along with Synchrony Bank’s information, including lien holder code, within 30 days to ensure the lien is placed on title when issued. Synchrony Bank permits the dealer to sign as the lien holder by having a representative simply sign their own first and last name. Once properly completed, the form must be submitted with a $5 fee via US Mail to the address disclosed on the form.


NON-TITLED PRODUCTS

A Uniform Commercial Code (UCC) is filed to secure the lien holder’s interest in a non-titled vehicle/watercraft. A filed UCC provides protection for the lien holder in the event of bankruptcy and must be filed in state where the property is kept, unless other arrangements are made.

■■ A filed UCC, listing Synchrony Bank as the secured party, is required if the Amount Financed is equal to, or greater than $20,000. The dealer is required to file the document with the appropriate state recording agency (i.e. Secretary of State). Synchrony Bank must be listed as secured party. In Louisiana, the UCC must be filed in the Parrish the customer resides in.

■■ When filling out the UCC-1 form, please list Synchrony Bank in both the “Send Acknowledgement To” and “Secured Party” sections on the forms.

■■ In the collateral section, the Year, Make, and Serial Number for each unit being filed must be listed.

PROPERTY ADDRESS

Unless otherwise informed, Synchrony Bank’s lien requirements are based on the customer’s residential address disclosed on the loan contract. In the event that the customer has a second or seasonal home where the product is used/stored, please inform Synchrony Bank so our records can reflect the correct lien perfection requirements.

For Dealer questions regarding any titling issues, call the Yamaha Installment Financing credit center at 1-888-6-YAMAHA, option 5.

B. FUNDING REQUIREMENTS:

■■ Follow the customer’s state specific titling guidelines for the specific product being financed noted previously in this section.

■■ You are responsible to process all title work with “Synchrony Bank” as lien holder.

■■ To ensure timely funding, provide the following copies in the loan package for proof of lien perfection and vehicle verification:

■■ If Title/UCC is required—please provide: 1. Copy of the title application with Synchrony Bank listed as lien holder 2. Copy of MSO (new units) or title (used units)

■■ If Title/UCC is NOT required—please provide: 1. Copy of MSO only


C. Funding Helpful Hints:

Below are the most common causes of funding delays. To help ensure funds are disbursed as quickly as possible, please remember the following tips:

■■ A completed Synchrony Bank -- Yamaha Installment Credit Application, which is signed and dated by all applicants, is required on all loans. For your convenience, a pre-populated credit application will print out with the prepared contract.

■■ Each loan must have a form of VIN verification. The following are acceptable forms of VIN verification:

■■ Front and back MSO■■ Preprinted warranty card■■ Manufacturer’s invoice■■ Previous title or registration (if used)■■ VIN rub■■ Picture of VIN

D. TITLE RELEASE TIMING:

Titles will typically be released 10 days after an account is paid in full if payoff funds are “non-guaranteed funds” such as a personal check from the customer. Titles will typically be released 48 hours after the posting date when an account is paid in full if the payoff funds are “guaranteed funds” such as a bank check, certified check, or a check from the dealer. Titles will be returned via first class US Mail. In order to mail a lien document to a third party, Synchrony Bank must receive the signed or verbal authorization from the customer along with the payoff funds.


Payoffs Of Existing Contracts


Note: The Dealer should only follow these steps if working on a trade-in for a customer or if requested by a customer.TITLE RELEASE TIMING: The types of funds used to payoff the loan dictate how soon the title can be released:

A. Types of Funds:a. “Guaranteed Funds”— are those funds from sources such as a bank check, certified

check, or a check from the dealer. If these types of funds are used to pay an account in full, then titles will typically be released after 48 hours after the posting date.

b. “Non-guaranteed Funds”— are those funds such as a customer’s personal check. If these types of funds are used to pay an account in full, then titles will be released after 10 days.

B. Payoff Amount — to obtain a closeout quote on an account, call the Customer Service number on Page 1.1 with the customer’s name and account number. You will typically be quoted a payoff that is valid until a specific date.

■■ Issue a payoff check for the closeout quote. This should be received by the Yamaha Installment Financing credit center no later than the “good until . . .” date.

■■ Include the customer’s account number on the payoff check.

C. Trade Ins — In the event that the customer is trading in their current vehicle on another vehicle:

■■ Issue a payoff check for the closeout quote, and include the customer’s account number and VIN or hull number of the trade-in on the payoff check.

■■ If the trade-in is a unit financed through the Yamaha Installment Financing program, then include instructions as to whom the title should be endorsed (if applicable), and where the released title should be mailed.

■■ Send the payoff check, made payable to Synchrony Bank, attached to the new loan contract, to the Yamaha Installment Financing credit center, along with all other required information.

If the payoff check needs to be sent by overnight mail, then send the check and loan contract to the contract funding address below:

CUSTOMER PAYMENTS(OVERNIGHT MAIL)Synchrony BankOH3 - 4272950 Forrer Blvd.Kettering, OH 45420-1469

Titles will be returned via first class US Mail.

Payoffs Of Existing Contracts


Consumer Repossession Procedures


In the event that either Synchrony Bank repossesses a vehicle, or a customer makes a voluntary repossession, the following procedures will apply:

A. The customer or third party delivers the vehicle to your location. Call 1-800-213-5077 to verify whether it is financed through Synchrony Bank. If it is, take possession of the vehicle. Please inspect the vehicle and complete a Repo Condition Report (sample on following page) while the customer is still at your location, if possible, and have the customer sign it. Fax the completed Condition Report to Credit Collections or our appointed agent at 1-800-292-4582 within 2 business days.

B. If a vehicle is left at your location for repairs and has not been picked up within (30) days, then call 1-800-213-5077 to verify whether or not it is financed through Synchrony Bank. Inform the representative of the customer’s name and telephone number and the vehicle make and model in your possession.

C. If the vehicle is financed by Synchrony Bank and requires repossession, then the representative will ask you to complete a Repo Condition Report on the repossessed vehicle. Please inspect the vehicle and complete the report. Fax it to the Yamaha Installment Financing credit center or our appointed agent at 1-800-292-4582 within 2 business days.

D. Due to various state laws, a repossessed vehicle may be in your possession for up to (30) days; please be patient. While Synchrony Bank cannot pay storage fees associated with your assistance under the voluntary repossession procedures; we do recognize the urgency in picking up repossessions from your location. If you wish to make an offer on a repo, call the Yamaha Installment Financing credit center or our appointed agent at 1-800-213-5077.

E. A sample of the Repo Condition report can be found on the following page. Please photocopy for use and retain this original.

F. You may finance Synchrony Bank repossessed vehicles through the Yamaha Installment Financing credit center for up to 100% of the retail price listed in the latest edition of the NADA National Edition Booklet. Freight and accessories may be added up to 20% above that retail price. The vehicle must be less than three years old. Follow the instructions in this manual under “Preparing a Loan Application.”

Consumer Repossession Procedures


Please Photocopy This Form Prior To Use

Yamaha Installment Financing Repo Condition Report Fax Sheet

(Customer Voluntary Drop-Off At Dealership)

Dealership Name: ________________________________ GE Yamaha Dealer No. ________________ Dealership Personnel and Title: __________________________________________________________ Date Repossessed: ______ / ______ / ______ Model: ____________________________ Year: ___________ V.I.N. ___________________________Customer Name: _________________________________ Account No.: _______________________ Customer Address: _______________________________ Customer Phone: ________________ Is the unit at your dealership? YES ______ NO ______ Was the unit in an accident? YES ______ NO _____ Mileage: _____________

MAJOR PHYSICAL DAMAGE MAJOR MECHANICAL (Due to accident or collision; not DAMAGE normal wear and tear)

Additional Comments: __________________________________________________________ ________________________________________________________________________________________________________________________________________________________

WITHIN TWO (2) DAYS OF RECEIVING A REPO, please fax a copy of this Repo Condition Report to the number shown below:

Yamaha Credit Financing Center Fax #: 1-800-292-4582Attn: Repo Unit

AUTHORIZED YAMAHA DEALER SIGNATURE: ____________________________________ CUSTOMER SIGNATURE: ______________________________________________________

Part No. DescriptionDealer Net

PricesPart No. DescriptionDealer Net

Prices


Miscellaneous


Split SalesDividing the cash down payment and/or any fees associated with the customer contract with any other Synchrony Bank retail finance program, or any Synchrony Bank competitor programs is a violation of the closed end Synchrony Bank dealer agreement. Contracts in violation of this policy are subject to dealer charge back.Privacy PolicyAs you may be aware, a very significant Federal privacy law—called the Gramm-Leach-Bliley Act—imposes disclosure requirements and information sharing restrictions on financial institutions and parties who receive information from them. In addition to the Federal law, a number of states have also enacted laws restricting the sharing of customer information, and/or account lists.The Federal privacy law and these state laws will affect you in several ways. First, there may be restrictions on the information we can share with you including state by state exclusions and/or information field exclusions we deem appropriate. Moreover, if you receive information from us or handle information on our behalf (such as processing a loan), you will be subject to the Gramm-Leach-Bliley Act’s restrictions on re-use and re-disclosure. Generally speaking, these restrictions prohibit you from using the information for any purpose other than that for which it was provided to you.Additionally, Gramm-Leach-Bliley Act requires financial institutions and all parties with whom they contract to establish administrative, technical and physical safeguards to (i) ensure the security and confidentiality of customer information, (ii) protect against any anticipated threats or hazards to the security or integrity of customer records, and (iii) protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.It is incumbent on all of us to examine our procedures to ensure that customer information is not compromised. We will count on you to evaluate and modify your procedures as needed to avoid unauthorized or unintended access to, or use of, customer information. Procedures to consider include: shredding sales receipts, or other records which may contain account numbers or other customer information before they are thrown away; safeguarding all customer applications in locked cabinets or in a secure storage facility with limited access; encrypting any customer information sent electronically; and requiring any vendors you use to assist you in communication with customers to strictly safeguard customer information and return it to you or certify its destruction after use.We appreciate your commitment to safeguarding the information of our mutual customers.Activity StatementsEach day that there is settlement activity, a statement of Daily Activity is sent to you via fax. This statement displays the deposits, debit adjustments, credit adjustments, and fees applied to your account during the previous day. In addition, this statement reflects promotional activity and/or adjustments.Remember the date on the Dealer statement may differ from the date of deposit on your checking account statement.

Miscellaneous


When your Dealer Statement arrives, compare it with your checking account statement and deposit records. Any deposits, debit adjustments (chargebacks), credit adjustments, and fees will be reflected as deposits, charges, and memos on the checking account statement.


Fair Lending Requirements


Fair Lending RequirementsSynchrony Bank is an equal opportunity lender. Credit must be offered to everyone, and applicants should be treated fairly and consistently. Failure to do so may result in allegations of discrimination, potential violations of federal or state fair lending laws, litigation or reputation risk. All applicants should be encouraged to apply for credit without regard to any basis prohibited by law. Prohibited bases include race, color, religion, national origin, sex, marital status, age, receipt of income (in whole or in part) from public assistance programs, or an applicant’s good faith exercise of a right under the Consumer Credit Protection Act. This is in accordance with Regulation B, which implements the Equal Credit Opportunity Act.Please direct any questions you may have about this to your dealer representative, who can get you answers to your questions.

202-290-00 Rev June 2014

Yamaha Orientation GuideCredit extended by Synchrony Bank

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