Kia and Lincoln financial units ranked highest in JD Power survey

Article by Anita Panait, on December 1, 2013

Kia Motors Finance and Lincoln Automotive Financial Services were ranked the top lenders among mass market and luxury brands, respectively, according to J.D. Power's 2013 U.S. Consumer Financing Satisfaction Study. Among mass market brands, Kia Motors Finance scored 851 on a 1,000-point scale, closely followed by VW Credit, Hyundai Motor Finance and Ford Credit.

Among luxury brands, Lincoln Automotive Financial Services scored 875, followed by BMW Financial Services.  Lincoln Automotive Financial Services was also the top-ranker in last year’s index.

The study also showed that captive finance companies outranked banks and independent finance companies in the overall rankings, although some of the biggest-volume lenders in the United States weren’t ranked due to small sample sizes. This year’s rankings combined loans and leases but kept luxury and mass-market brands separate.

Likewise, in this year’s study, customers were no longer asked to rate lenders on their satisfaction with interest rates or monthly payments. However, the study still measures customer satisfaction in three categories: billing and payment process, Web site, and phone contacts. The study also showed that dealership recommendations were the most cited influencer of lender choice, at around 50 percent.

It also found that providing easily understood "welcome aboard" materials worked wonders for lenders in higher customer satisfaction just as making automatic payments became much easier to set up. The study also showed that 95 percent of auto finance customers who said they were "highly satisfied" remarked that they would probably opt for the same lender again.

Topics: kia, lincoln, jd power, survey

If you liked the article, share on:

Comments

Recommended

Bimmerpost has posted several cool pictures of the new BMW G30 540i and the new G31 generation BMW 5-Series Touring, with both wearing the brilliant Rhodonite Silver Individual colour. The...
by - October 23, 2017
A few years ago, Lotus tried to take on Porsche. They had a five-car plan to go against competitors like Ferrari and Aston Martin. Though it did not go well,...
by - October 23, 2017
To keep the Nissan Maxima interesting, the Japanese automaker gives the 2018 model year a number of small tweaks. Some of these include standard Android Auto, which is a new...
by - October 23, 2017
It looks as if Chevrolet has everything planned out in terms of production. Firstly, they have plans of introducing the Corvette ZR1 in a few months, which will then be...
by - October 23, 2017
While Tesla Motors continues to struggle with regards to the assembly of its much awaited Tesla Model 3, investment firm Oppenheimer & Co. is confident that its previous production estimates...
by - October 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries