Yesterday, we reported that Lincoln Financial Services had secured its eighth-straight first-place finish in the luxury segment of the J.D. Power 2020 U.S. Consumer Financing Satisfaction Study. However, Ford Credit also had a very strong showing of its own, finishing second in the mass market segment, which marks its sixth straight top-three ranking, including four top rankings.
Ford Credit accumulated a score of 870 to finish just behind BB&T now Truist, which scored an 879 on J.D. Power’s 1000-point scale. Ford Credit scored highest in originations process in the mass market segment, improving its score by 11 points from 2019.
The J.D. Power U.S. Consumer Financing Satisfaction Study measures overall customer satisfaction in five factors – billing and payment process, mobile app experience, onboarding process, origination process, and website experience. The study was conducted from July-August 2020, and is based on responses from 10,103 customers who financed a new or used vehicle through a loan or lease within the past three years.
“Our goal is to be a reason that people choose and stay with Ford and Lincoln,” said Jim Drotman, Ford Credit executive vice president of U.S., Canada, and International. “Despite the pandemic and unprecedented numbers of customer calls, our team never lost sight of this. Tough times only strengthen our resolve to do the right thing for our customers, so they become customers for life.”
“The satisfaction rankings are a testament to the great team we have interacting with customers, working every day with dealers and developing the next products and services to make customers’ Ford and Lincoln experiences better,” Drotman added.
“We continuously work to improve, because our customers expect and deserve it and because it is Ford’s nature as a leader in the automotive industry,” said Sylvia Veitia, Ford Credit executive vice president of Operations and Customer Experience. “We will continue to deliver state-of-the-art financial services to complement the outstanding purchase and driving experiences customers expect from Ford.”