Yamaha Piano Program (Rent-to-Rent)

Benefits

The Yamaha Rent-to-Rent program is designed to assist Yamaha Piano Dealers in purchasing pianos to be used for rental. Many customers will only rent a piano, either because of a temporary need or because they are cautious about making a purchase decision. The rental business provides numerous benefits to piano retailers, and building a rental pool to service these customers can help you in many ways:

Never let another customer walk – Offer a rental piano to customers who cannot make a buying decision. Don’t pass on a financially sound business or nonprofit customers because they want financing and you do not have a funding source for them. Whether it is a restaurant, house of worship, senior living residence, or private teachers, they can conveniently Rent or Rent-to-Own with low monthly payments.
Additional revenue stream – Rental pianos provide a monthly cash-flow stream that helps you during slower months.
Interest and depreciation are tax deductible.
Positive cash flow – Rental payments should exceed monthly financing payments.
Build equity – Over time, you build a pool of pianos that add value to your company’s balance sheet.

Frequently Asked Questions

Can this financing be paid off early without penalty?

Yes; a pay down or payment in full will reduce interest costs, and there is no early payment penalty.
Who makes the payments if the piano is not out on rent?

In the event that the piano is returned, the dealer is responsible to make the payments until the piano is out on rent again.
I am not a flooring dealer, but can I still use this program without stocking pianos for rent?

If you have a customer who wants to rent, just have them choose the Yamaha piano they would like to rent and order it under the B90 term.
Is there a limit to the number of pianos I can put on this program?

No; this program is designed to let you grow this pool as your business dictates while enjoying positive cash flow.
Does BGE approve the customers?

No; the dealer makes all credit decisions for rental consumers or businesses.
Are the rentals limited to consumers?

No; businesses such as worship centers, restaurants, senior living centers, etc., are eligible as well.
Could I have a piano just for short-term rental under this program?

Yes; dealers find that a quality piano that is available for single nights or short-term rentals can work in certain markets.

Program 1 – Yamaha Flooring Dealers

A Line of Credit to be used exclusively for rental pianos will be provided by BGE Financial in addition to your existing Yamaha Flooring. This will be a pre-approved Credit Line available for your future or existing inventory and it doesn’t impact your existing open-to-buy.

Minimum Order: $0

Qualifying Models: Any Yamaha acoustic piano, Disklavier, AvantGrand or Clavinova.

Rate: Prime + 6% to BGE Financial.

BGE Term: Rented pianos financed by BGE Financial Corporation for up to 60 months.

Process

BGE will set a pre-approved Credit Line for all Yamaha Floor Program dealers.

You sign a Payment Processing Agreement with BGE to process rental payments by credit card or ACH. Payments will be applied to your loan until the pianos are paid in full. You may continue BGE’s Payment Processing Service after payments are complete.
Dealer will be responsible shortfalls in the event that the payments processed are less than the dealers loan payment.

You rent any in-stock piano from Yamaha’s Floor Plan Program.
You forward original executed rental contract to BGE and email a copy to CFS_RCM@yamaha.com or fax to Yamaha CFS at (714) 522-9810.
Yamaha changes flooring item status to “Rental” and collects from BGE.
If any BGE financed units are sold, the remaining balance due must be paid to BGE within 10 days.

Program 2 – Yamaha Open Account Dealers

Credit will be extended under the B90 term for any pianos that are designated for rental.

Minimum Order: $2,000

Qualifying Models

Any Yamaha acoustic piano, Disklavier, AvantGrand or Clavinova Rate Prime + 6% to BGE Financial BGE Term.
Rented pianos financed by BGE Financial Corporation for up to 60 months. You have 90 days free financing to get pianos rented. Units not rented must be paid off within the 90-day term.

Process

Place an order with Yamaha specifying the B90 term.
Yamaha contacts BGE for approval.

You sign a Payment Processing Agreement with BGE to process rental payments by credit card or ACH. Payments will be applied to your loan until the pianos are paid in full. You may continue BGE’s Payment Processing Service after payments are complete.
Dealer will be responsible shortfalls in the event that the payments processed are less than the dealers loan payment.

Yamaha ships rental pool pianos and bill you on a 3rd Party Term, B90.
When you rent an item from your Yamaha Rental Pool, you forward the original executed contract to BGE and email a copy to Yamaha CFS_RCM@yamaha.com or fax to Yamaha CFS at (714) 522-9810.
Units not rented during the initial 90 days must be paid in full.