Synchrony Financial will continue as a preferred option for consumer
financing of new and used Suzuki powersports products
STAMFORD, Conn., & BREA, Calif.–(BUSINESS WIRE)–Synchrony Financial (NYSE:SYF),
a premier consumer financial services company with 80 years of retail
heritage, today announced a multi-year renewal of its program to provide
consumer financing for Suzuki Motor of America powersports products.
Suzuki Motor of America, Inc. (SMAI) is a leading manufacturer and
distributor of motorcycles, ATVs, scooters, outboard motors and
automotive parts and accessories through an extensive dealer network in
The agreement extends a multi-year consumer financing relationship
between Synchrony Financial and Suzuki. Qualifying buyers1
will continue to have access to special financing options and exclusive
offers for Suzuki products through their dealer network in
the United States.
“We’re pleased that Suzuki enthusiasts will continue to have access to a
variety of payment options that will help them get the powersports
products they need and want,” said Glenn Marino, executive vice
president and CEO, Payment Solutions, Synchrony Financial. “The
availability of financing is important to consumers, and we’re pleased
to work with Suzuki to offer that added value to their customers.”
A 2014 study2 commissioned by Synchrony Financial of
powersports customers explores the path to purchase and shows that,
while value is important, the majority of shoppers choose a brand based
on quality and trust. It also confirmed the importance of financing with
76% of survey respondents who have used dealer financing saying it helps
make large purchases more affordable, and 52% saying they would not have
made the purchase, or gone to another retailer, had financing not been
“Synchrony Financial is committed to helping us provide our customers
with a great experience by offering flexible and convenient payment
options,” said Chris Coons, Sales and Operations Manager, Suzuki Motor
of America, Inc. “Synchrony understands our business, knows what
motivates our shoppers and is a valued partner in helping us grow our
1Subject to terms and conditions.
2Conducted by a third party, the Synchrony Financial 2014
Powersports Consumer Study explores the customer path to purchase and
surveyed consumers who had either made, or planned to make, a $500+
purchase of a motorcycle, all-terrain or utility terrain vehicle, or
personal watercraft within six months.
Suzuki Motor of America, Inc. (SMAI) distributes Motorcycles, ATVs,
Scooters, Outboard Motors and Automotive Parts and Accessories via an
extensive dealer network throughout 49 states. SMAI’s supplier, Suzuki
Motor Corporation (SMC), based in Hamamatsu, Japan, is a diversified
worldwide manufacturer of Motorcycles, ATVs, Scooters, Automobiles and
Outboard Motors. Founded in 1909 and incorporated in 1920, SMC has 147
distributors in 201 countries. For more information, visit www.suzuki.com.
About Synchrony Financial
Synchrony Financial (NYSE:SYF)
is one of the nation’s premier consumer financial services companies.
Our roots in consumer finance trace back to 1932, and today we are the
largest provider of private label credit cards in the United States
based on purchase volume and receivables.* We provide a range of credit
products through programs we have established with a diverse group of
national and regional retailers, local merchants, manufacturers, buying
groups, industry associations and healthcare service providers to help
generate growth for our partners and offer financial flexibility to our
customers. Through our partners’ over 350,000 locations across the
United States and Canada, and their websites and mobile applications, we
offer our customers a variety of credit products to finance the purchase
of goods and services. Synchrony Financial (formerly GE Capital Retail
Finance) offers private label and co-branded Dual Card™ credit cards,
promotional financing and installment lending, loyalty programs and
FDIC-insured savings products through Synchrony Bank. More information
can be found at www.synchronyfinancial.com,
*Source: The Nilson Report (April, 2015, Issue # 1062) –
based on 2014 data.
©2016 Synchrony Bank/Synchrony Financial, All rights reserved.