DETROIT -- Vehicle financing services from Honda, BMW, Ford and Lexus each garnered top marks in customer satisfaction, according to survey results released today.
J.D. Power and Associates 2007 Consumer Financing Satisfaction Study examined responses from 24,163 consumers who financed new-vehicle purchases between May and October. The survey measured customer satisfaction with the finance companies offerings, application and approval processes, billing processes and customer contact experiences. Each finance company was rated on a 1,000-point scale.
BMW Financial Services took the top spot in the luxury lease category with a score of 815. The finance company received high marks for its offerings, billing process and customer interaction.
Honda Financial Services scored highest in the nonluxury lease category. The companys financial offerings and billing process stood out for customers, who gave it an overall score of 813.
For new-vehicle loans, Lexus Financial Services took the top spot in the luxury category, while Ford Credit got the nod for best nonluxury loan provider. Lexus Financial scored 782, and Ford Credit scored 781.
According to the survey, customers praised Lexus Financial for its billing process and Ford Credit for its offerings and customer interaction.