Financing A New Car? The Highest Satisfaction Rating Goes To Subaru
Does Subaru offer the best financing? If you are buying a 2022 Subaru Outback, Crosstrek, Forester, or another new Subaru model, how does Subaru's lender stack up against the other car brands? The latest J.D. Power 2022 U.S. Dealer Financing Satisfaction Study reveals Subaru Motors Finance is the number one rated auto lender in customer satisfaction.
J.D. Power says Subaru Motors Finance ranks highest in overall dealer satisfaction with a score of 934, followed by Honda Financial Services (899) and Ford Credit (888). All three are above the auto lender average of 883. Toyota Financial Services is fourth, scoring 883 points.
photo credit: Budds Subaru
The 2022 U.S. Dealer Financing Satisfaction Study is based on responses from 3,578 auto dealer financial professionals. The study, fielded in April-May 2022, measures auto dealer satisfaction which translates to happy customers buying a new Subaru.
J.D. Power says five key sales rep behaviors can mean the difference between winning over dealers with above-and-beyond service or disappearing into the background.
photo credit: Budds Subaru
"Auto lender sales reps that exceed dealer expectations in areas such as responsiveness and expertise with lending programs generate dealer satisfaction scores that are as much as 190 points higher on a 1,000-point scale than those who just meet or miss dealer expectations," said Patrick Roosenberg, director of automotive finance intelligence at J.D. Power.
J.D.Power says, "Despite this huge competitive advantage, only 44 percent of sales reps manage to exceed dealer expectations." Subaru's lender goes beyond the normal to make its customers happy.
The study says it's more complicated than ever to win new business in the current auto lender climate. Subaru Motor Finance was far ahead of the other top car brands in customer satisfaction. Despite a combination of inflation, rising interest rates, and persistently low supply of new Subaru Forester, Outback, and Crosstrek vehicles, Subaru had the top financing satisfaction score.
What about leasing a new Subaru vehicle?
Ally Financial ranks first in overall dealer leasing satisfaction with a score of 942, followed by Subaru Motors Finance (940) and Ford Credit (906).
The J.D. Power study reveals Subaru Motors Finance has the most knowledgeable, helpful, and available sales representatives for Subaru customers financing or leasing a 2002 Forester, Crosstrek, Outback, and other new models.
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Denis Flierl has invested over 30 years in the automotive industry in a consulting role working with every major car brand. He is an accredited member of the Rocky Mountain Automotive Press. Check out Subaru Report where he covers all of the Japanese automaker's models. More stories can be found on the Torque News Subaru page. Follow Denis on Facebook, Twitter, and Instagram.
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Photo credit: Budds Subaru