The Industry's Leading Source For F&I, Sales And Technology

Top News

BMW Financial Ranks First in Dealer Financing Satisfaction

August 2, 2004

WESTLAKE VILLAGE, Calif. -- BMW Financial Services ranked the highest in satisfying dealers with prime retail credit and retail leasing, according to J.D. Power and Associates' 2004 Dealer Financing Satisfaction Study. The study measured dealer satisfaction with finance companies in the areas of prime retail credit, nonprime retail credit, retail leasing, floor planning and account management.

BMW Financial received high marks for consumer qualification and dealer support. In terms of retail leasing, BMW performed well in competitiveness, lease initiation and lease-end support.

For the seventh consecutive year, the captives beat out banks, credit unions and independent providers. Eighty-seven percent of dealers said they were satisfied with their captive finance company, while 82 percent were satisfied with credit unions, 78 percent with banks and 64 percent with independents.

"One may think a large part of the captives' dominance in overall satisfaction is a result of their aggressive customer incentive programs and dealer appreciation for helping them move vehicles," said Tim Dennis, J.D. Power's director of auto finance. "However, their high satisfaction levels are primarily attributed to their consistent dealer commitment and outstanding performance in dealer service."

Overall dealer satisfaction with finance sources keeps improving. This year, 75 percent of dealers reported being satisfied with their finance sources -- the highest number since the study's inception in 1994.

More than 4,000 dealer principals participated in this study.

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  

CLOSE [X]

READ NEXT

Ford Credit to Finance Cars in China

DEARBORN, Mich. -- China's banking authority recently approved Ford Motor Credit Co.'s initial application to provide auto financing in China. The company will provide financing to consumers and over 100 Ford dealers currently operating in China.