J.D. Power: Lender Availability, Responsiveness Drive Satisfaction
Big winners in the firm’s 2018 U.S Dealer Financing Satisfaction Study include Mercedes-Benz Financial Services in the Captive Luxury Segment, Volkswagen Credit in the Captive Mass Market segment, Citizens One Auto Finance in the Noncaptive category, and TD Auto Finance in Floorplan.
COSTA MESA, Calif. — Dealers are leaning heavily on the credit staff and sales reps, as they covet immediate funding and problem resolution within the dealer finance industry, according to the J.D. Power 2018 U.S. Dealer Financing Satisfaction Study, released today.
Across all lender segments (luxury captive, mass market captive and noncaptive), lender relationship is the heaviest-weighted driver of satisfaction.
“If lenders can ensure credit staff is readily available and knowledgeable, they will see a boost in dealer satisfaction,” said Jim Houston, senior director of the automotive finance practice at J.D. Power. “Satisfaction declines by 163 points, on a 1,000-point scale, when dealers are not able to reach the credit staff. Additionally, if lenders can communicate the best contact for dealers to reach out to for non-traditional questions, the resolution time decreases, which will, in turn, increase dealer satisfaction.”
The 2018 U.S. Dealer Financing Satisfaction Study is based on responses from 4,476 automotive dealers. The study was fielded between April and May 2018 and measures auto dealer satisfaction in four segments of lenders: noncaptive, captive mass market, captive luxury market, and floor planning.
The noncaptive analysis evaluates the dealer/lender relationship across three factors: relationship, provider offerings, and application/approval process. In the captive mass market and luxury segments, four factors are evaluated: relationship, provider offerings, application/approval process and lease return. Three factors are measured in the floor planning segment: relationship, portfolio management, and provider credit line.
The following are the rankings from the firm’s 2018 study:
Captive Luxury Segment: Mercedes-Benz Financial Services ranked highest in overall dealer satisfaction (976), followed by Audi Financial Services (944), and Infiniti Financial Services (942).
Captive Mass Market Segment: Volkswagen Credit ranked highest in overall dealer satisfaction (956), followed by Subaru Motors Finance (928) and NMAC (901).
Noncaptive Segment: Citizens One Auto Finance ranks highest in overall dealer satisfaction (921), followed by TD Auto Finance (917), and Chase Automotive Finance (869).
Floor Plan: TD Auto Finance ranks highest with a score of 994, followed by Mercedes-Benz Financial Services (989) and Volkswagen Credit (984).
More F&I
New Lifetime Battery F&I Product Meant to Drive Dealer Traffic
EFG Cos. offering is intended to create lifetime auto dealer engagement with customers.
Read More →
The Psychology Behind Menus That Increase Add-On Sales
There is a science to crafting a menu that gives customers confidence in the choices presented, and moving the process outside the F&I office can further boost results.
Read More →
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
What Market Timing Mistakes Mean for Your Reinsurance Program
When volatility hits, dealer-owned reinsurance programs face a familiar temptation: pull back and wait for calmer waters. New data from BOK Financial shows why that instinct can quietly cost you years of surplus growth.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →
Your Office Is Talking
What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
Read More →