Ford Authority

Ford Credit Ranked First For End Of Lease Satisfaction

Even with lease returns falling to historically low levels amid record high used vehicle prices, Ford Credit has fared well in recent studies measuring customer satisfaction in that regard – ranking first in both the J.D. Power 2022 U.S. Consumer Financing Satisfaction Study and 2022 U.S. End of Lease Satisfaction Study. Now, the 2023 U.S. End of Lease Satisfaction Study has been released, and it reveals that Ford Credit has once again topped the mass market segment.

J.D. Power 2023 U.S. End of Lease Satisfaction Study Mass Market Segment

This time around Ford Credit topped J.D. Power’s rankings with a score of 873 out of 1,000, which placed it ahead of Toyota Financial Services (857), Honda Financial Services (855), Hyundai Motor Finance (855), NMAC (853), GM Financial (851), Volkswagen Credit (851), Kia Motors Finance (846), Subaru Motors Finance (845), U.S. Bank (842), Chrysler Capital (834), Ally Financial (825), and Mazda Financial Services (808).

J.D. Power’s U.S. End of Lease Satisfaction Study identifies lease-end practices and timely marketing opportunities that optimize lease retention for the same brand and at the same dealer. The study is based on the responses of 2,513 mass market lease customers who have ended an auto lease within the past nine months.

This year’s study found that not only does auto leasing volume continue to fall, but that automakers have also presented customers with fewer options in that regard. The key to improving performance, according to J.D. Power, is to understand when lessees are making their decisions, as well as the best way to communicate with those customers at the perfect moment.

“In this market, lenders need to take actions that create and maintain brand loyalty,” said Patrick Roosenberg, director of automotive finance intelligence at J.D. Power. “Because there are fewer lease opportunities, the best course of action is for lenders to do everything in their power to maintain their current customers. In that effort, we compare the different end of lease journeys, between customers that are brand loyal and those that leave the brand, to identify and understand lender specific actions that affect loyalty. According to our data, the optimal recapture point is long before a customer ever sets foot in a dealership. The greatest opportunity to retain lease customers is six to nine months before vehicle turn-in. By being proactive with their communication, knowing when it should begin and understanding the communication channels customers value, lenders maximize their chances to forge a brand loyalty with a customer that can pay dividends for years to come.”

We’ll have more automotive insights like this to share soon, so be sure and subscribe to Ford Authority for continuous Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

Subscribe to Ford Authority

For around-the-clock Ford news coverage

We'll send you one email per day with the latest Ford updates. It's totally free.

No Comments yet

Leave a comment