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Jim HenryAutomotive News
July 30, 2013 - 3:15 pm ET
Auto dealers ranked BMW Group Financial Services tops for leasing and Mercedes-Benz Financial Services best for floorplanning in J.D. Power's annual financing satisfaction study released today.
Among lenders for mass-market brands, dealers were most satisfied with Ford Motor Credit Co. J.D. Power doesn't name an overall winner.
The 2013 U.S. Dealer Financing Satisfaction Study looked at dealer satisfaction with lenders in four areas: prime retail credit, subprime retail credit, retail leasing and floorplanning. The subprime retail credit category, while included in the study, is not eligible for an award.
Dealer satisfaction increased in all areas, aided by higher satisfaction with products offerings, J.D. Power said. Overall dealer satisfaction with prime retail credit lenders is 890 out of a possible 1,000 points, and retail leasing satisfaction is 896 points. Both categories were up 5 points from 2012. Floorplanning satisfaction increased the most among the three eligible financing categories, rising 11 points to 924.
Alphera Financial Services is No. 1 in the prime retail credit category, with a score of 970 points. Alphera is the BMW Group Financial Services unit that serves BMW dealers for brands other than BMW. BMW Financial Services, which serves the BMW brand, was No. 2 with a dealer satisfaction score of 965.
Mercedes-Benz Financial Services is No. 3 in the category at 953. Ford Credit is No. 4 at 935.
In the dealers' cellar for prime retail credit is Santander Auto Finance, in last place at 796. Also near the bottom are Credit Union Direct Lending, Kia Motors Finance, GM Financial Services and Hyundai Motor Finance.
In the retail leasing category, the top brands looked nearly identical to prime-risk lending. BMW Financial Services is No. 1 with a score of 958. Mercedes-Benz Financial Services is No. 2 at 954, and Ford Credit is No. 3 at 929. U.S. Bank is at the bottom, at 806.
For floorplanning, Mercedes-Benz Financial Services is No. 1 at 971. BMW Financial Services is No. 2 at 966, and Ford Credit is No. 3 at 948. Volkswagen Credit ranks last at 830.
Other lenders were included in the survey in various categories but not ranked due to small sample size, J.D. Power says.
You can reach Jim Henry at autonews@crain.com.
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