Ford Authority

Ford Credit Ranked First In 2024 Canada Dealer Study

Ford Credit has performed rather well in some recent J.D. Power studies, ranking third in that organization’s 2021 Canada Dealer Financing Satisfaction Study, moving up to first in that same study the following year, ranking sixth in 2023, and coming in third place in the U.S. version of the same study last year. Now, the 2024 J.D. Power Canada Dealer Financing Satisfaction Study has been released, and it reveals that Ford Credit moved far up the rankings – all the way to first place – over the past year.

J.D. Power 2024 Canada Dealer Financing Satisfaction Study Captive Prime

This year, Ford Credit topped almost all of its competitors in the captive prime space with a score of 812 out of 1,000 possible points – tying it with Kia Finance, but also ranking it ahead of Hyundai Motor Finance, Honda Financial Services, Toyota Financial Services, Nissan Canada Finance, and GM Financial.

This latest study is based on 6,164 finance provider evaluations collected from new vehicle dealerships in Canada between February and March 2024, aiming to measure dealers’ satisfaction with their finance providers. This year’s study found that building and cultivating relationships with dealers is an important factor in that process, as dealers who have relationship-based interactions with their lender were 54 points more satisfied than those whose interactions were strictly transactional.

“The numbers overwhelmingly show that lenders who build and maintain holistic interactions with dealers are more likely to generate additional business than on deals that only hinge on compensation,” said Patrick Roosenberg, senior director of automotive finance intelligence at J.D. Power. “A lender’s sales reps play a critical role in nurturing and managing those relationship-based engagements. Lenders should invest in and empower their sales reps to excel and ensure they are provided with the tools to be highly effective in cultivating those relationships. One example is to keep an effective rep-to-dealers ratio.”

We’ll have more on Ford Credit soon, so be sure and subscribe to Ford Authority for 24/7 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.

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