WESTLAKE VILLAGE, Calif. — The J.D. Power 2013 U.S. Consumer
Financing Satisfaction Study showed those initial steps in the F&I process
determine which companies score high marks with consumers and which ones do
not.

According to the study released today, lenders that provide
excellence in the servicing and onboarding experiences from the beginning of
the loan or lease process set the stage for customer satisfaction throughout
the financing duration.

J.D. Power highlighted four other key findings, including

—While dealer recommendations remain the most critical
driver of lender choice (48 percent in luxury and 50 percent in mass market),
nearly one-fourth (24 percent) of luxury customers and nearly one-third (32
percent) of mass market customers consider multiple lenders before selecting
their finance provider.

—Overall satisfaction is higher for captive lenders than for
non-captive lenders. Luxury segment captive lenders score 851 (on a 1,000-point
scale), compared with 793 for non-captive lenders. Mass Market segment captive
lenders score 836, compared with 805 for non-captive lenders.

—Satisfaction is higher when lenders provide onboarding
information that customers completely understand, compared to when they do not
provide clear information (plus-131 points in the luxury segment and plus-115
points in the mass market segment). Providing tools for customers to
self-manage their account, particularly setting up auto-payments, increases
satisfaction more than 150 points in the luxury and mass market segments (plus-157
points and plus-152 points, respectively).

—There is a relationship between higher levels of overall satisfaction
and future intent with 95 percent of highly satisfied automotive financing
customers (overall satisfaction scores of 800 and above), indicating they are
likely to choose their lender again.

—Overall satisfaction among automotive financing customers
in the luxury segment is 835, compared with 820 among those in the mass market
segment.

The study measures customer satisfaction in three key
factors of the new-vehicle financing experience: billing and payment process,
website and and phone contact. The study is conducted across two types of
vehicle segments: luxury and mass market.

"When you consider that most consumers finance indirectly
with a lender and the only face-to-face contact a lender may have with a
customer is at the point of the vehicle purchase or lease with the finance
manager at the dealership, first impressions really matter," said Mike
Buckingham, senior director of the automotive finance practice at J.D. Power.

"It's extremely important for lenders to get the servicing
experience right from the start by providing a superior welcome letter and
first billing statement that are rich with information to begin the onboarding
process. This provides a solid foundation for continued customer satisfaction,"
Buckingham continued.

In the mass market segment, Kia Motors Finance ranked
highest with a score of 851 and performed well in billing and payment process
and website, followed closely by Volkswagen Credit with 849 and Hyundai Motor
Finance with 848.

In the luxury segment, Lincoln Automotive Financial Services
ranked highest with a score of 875 and performed well in all factors, followed
by BMW Financial Services t 872 and Lexus Financial Services at 860.

The 2013 U.S.
Consumer Financing Satisfaction Study is based on responses from 12,741
new-vehicle purchasers or lessees who completed a vehicle loan or lease. The
study includes new vehicles financed in model years 2012 and 2013. The study
was fielded between September and October.

Mass Market Segment Rankings
—Kia Motors Finance: 851
—Volkswagen Credit: 849
—Hyundai Motor Finance: 848
—Ford Motor Credit: 847
—Toyota Financial Services: 842
—Honda Financial Services: 838
—World Omni Financial Corp.: 820
—Mass Market Average: 820
—NMAC: 812
—Ally Financial: 810
—TD Auto Finance: 809
—Chase Auto Finance: 801
—Capital One Auto Finance: 799
—Mazda American Credit: 797
—Subaru Motors Finance: 791
—Wells Fargo Dealer Services: 781
—Bank of America: 767
—PNC Bank: 749
—US Bank: 749
—Fifth Third Bank: 697

Luxury Segment
—Lincoln Automotive Financial Services: 875
—BMW Financial Services: 872
—Lexus Financial Services: 860
—Audi Financial Services: 850
—Mercedes-Benz Financial Services: 845
—Acura Financial Services: 843
—Luxury Average: 835
—Infiniti Financial Service: 818
—Ally Financial: 814
—Land Rover Financial Group: 782
—Chase Auto Finance: 776
—Bank of America: 765
—US Bank: 727

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