Following the announcement of Brunswick Corporation's Payment Protection promotion for its US dealers in May, the company recently announced that the program is available for its dealer base north of the border.
The promotion entails coverage of boat payments for Brunswick consumers for up to six payments in the event of a job loss due to the current economic conditions and is effective for those who buy a boat within a year of purchase. According to Brunswick, the plan covers Bayliner, Maxum, Triton and Trophy fiberglass boats; Cypress Cay and Palmetto Pontoons; Harris FloteBote; Kayot; plus select models in the Crestliner, Lowe, Lund, Princecraft and Triton aluminum lines.
The qualifying monthly payments can go up to $500 for the Bayliner, Maxum, Triton and Trophy fiberglass boats and up to $250 per month for all other aluminum brands for up to six months total payments. Consumers must take delivery of their new boats by July 26, 2009 and the coverage is in effect for the first year after the initial purchase date.
Brunswick adopted the plan based from similar efforts used by automotive manufacturers such as Hyundai, Ford and General Motors.
“We are very fortunate to be able to offer this program to our Canadian dealers and customers.” said Scott Ward, president of the Brunswick Product Protection Corporation. “When we launched the program in the US a few weeks, prior, we knew this was something we wanted to offer in Canada as well. Our dealers were asking for it and we found a way to deliver it.”
Ward explained that automotive companies such as Hyundai experienced far less sales decreases while offering the program compared to automotive manufacturers that didn't offer the program. He also mentioned that while cars are a necessity and not considered a luxury item such as a boat, consumers still require a strong incentive to purchase a car given the apprehension in the current economy. And the Payment Protection program appears to have made a difference in their sales performance.
Ward continued to explain that the Payment Protection promotion is a means to reduce some of the anxiety that one feels when making a major purchase in the marketplace today.