BMW Financial Services, Ford Credit and Hyundai Motor Finance Company each ranked highest in their respective segments in satisfying customers with the new-vehicle financing process, according to the J.D. Power and Associates 2008 Consumer Financing Satisfaction Study released last week.
J.D. Power and Associates’ study measures customer satisfaction with the new-vehicle financing process. What does J.D. Power look for? The application approval process, customer contact, payment/billing process and provider offering are all observed to see which financial companies perform the best.
The study also found that Internet use among new-vehicle buyers to research financing options has increased to 64 percent of luxury customers and 55 percent of non-luxury customers. The study, in its 13th year, is based on responses from 27,964 consumers who financed their new vehicle during May and September 2008.