COSTA MESA, Calif. -

As much as dealers and finance companies are taking advantage of technology, the J.D. Power 2019 U.S. Dealer Financing Satisfaction Study showed how critical of a role people still play in how stores fund their inventory needs and facilitate credit for their customers to take delivery.

With dealers confronting a rapidly changing consumer landscape in which many customers now apply for credit online before visiting a dealership, J.D. Power pointed out the experienced and empowered credit and sales personnel at captive and non-captive finance companies are becoming critical elements in the success of an automotive finance operation.

According to the annual J.D. Power study, the ability to answer dealer questions correctly the first time, facilitate electronic transactions and resolve contracts quickly are all key to helping dealers successfully navigate the changing marketplace.

“Dealers are able to put together more attractive, seamless transactions for their customers when they are able to work in lock-step with lenders they trust to deliver fast, accurate and competitive products,” said Jim Houston, senior director of automotive finance intelligence at J.D. Power.

“That relationship becomes more important as vehicle sales slow and more buyers may seek to secure financing outside of the dealership,” Houston continued in a news release. “Credit analysts and sales personnel perform some of the most important functions for dealers looking to match customers purchase with the right financial transaction.

When these teams are available, knowledgeable and empowered, they improve dealer satisfaction and enhance the lender’s value proposition,” he went on to say.

The 2019 U.S. Dealer Financing Satisfaction Study is based on 16,870 retail credit and 2,117 floor plan provider evaluations from dealer personnel, a 17% increase in response rate from the 2018 study. The study was fielded in April and May of this year, measuring dealer satisfaction in three segments of finance companies: non-captive, captive mass market and floor planning.

The non-captive analysis evaluates the dealer/finance company relationship across three factors:

— Relationship
— Provider offerings
— Application/approval process.

In the captive segment, four factors are evaluated, including:

— Relationship
— Provider offerings
— Application/approval process
— Lease return

Three factors are measured in the floor planning segment, including:

— Relationship
— Portfolio management
— Provider credit line

In the captive mass market segment, Volkswagen Credit ranked highest in overall dealer satisfaction with a score of 961, followed by Subaru Motors Finance (940) and Mazda Capital Services (921).

In the non-captive segment, Citizens One Auto Finance ranked highest in overall dealer satisfaction with a score of 935, followed by TD Auto Finance (927) and Ally Financial (899).

In floor plan, Audi Financial Services and Volkswagen Credit tied for the highest score at 993. TD Auto Finance (983) ranked third.

The complete study and rankings can be found here.