BMW Financial Services, Ford Credit, Honda Financial Services and Lexus Financial Services each rank highest in satisfying customers with the new-vehicle financing process, according to the J.D. Power and Associates 2007 Consumer Financing Satisfaction Study(SM) recently released.
Now in its 12th year, the study measures customer satisfaction with the new-vehicle financing process. Four factors are examined to determine customers' satisfaction with their automotive finance providers: provider offering, application/approval process, payment/billing process and customer contact experience.
Initial Lease Satisfaction Index Ranking: Luxury Segment
BMW Financial Services – 815
Ford Credit – 804
Mercedes-Benz Financial – 799
Luxury Lease Segment Average – 783
GMAC – 778
Lexus Financial Services – 775
Audi Financial Services – 762
Honda Financial Services – 761
Infiniti Financial Services – 745
US Bank -- 676
Initial Lease Satisfaction Index Ranking: Non-Luxury Segment
Honda Financial Services – 813
Ford Credit – 783
GMAC – 777
Toyota Financial Services – 768
Volkswagen Credit – 768
Non-Luxury Lease Segment Average – 762
Chrysler Financial – 739
Nissan Motor Acceptance – 708
Initial Loan Satisfaction Index Ranking: Luxury Segment
Lexus Financial Services – 782
Ford Credit – 779
GMAC – 774
Honda Financial Services – 755
Luxury Loan Segment Average – 744
Chase Auto Finance – 699
Initial Loan Satisfaction Index Ranking: Non-Luxury Segment
Ford Credit – 781
Suzuki Financial Services – 776
Volkswagen Credit – 764
Honda Financial Services – 762
Hyundai Motor Finance Company – 744
GMAC – 739
Toyota Financial Services – 733
Non-Luxury Loan Segment Average – 720
Nissan Motor Acceptance – 711
Mazda American Credit – 709
World Omni – 706
Bank of America – 703
Chrysler Financial – 698
SunTrust Bank – 683
US Bank – 678
Subaru Motors Finance – 677
Wachovia Dealer Services – 676
Branch Banking and Trust – 668
Wells Fargo Auto Finance – 666
Citizens/Charter One Auto Finance – 665
Chase Auto Finance – 664
Harris Bank – 664
Capital One Auto Finance – 660
Sovereign Bank – 643
Fifth Third Bank – 630
CitiFinancial Auto – 618
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