Captive Finance - Prime Credit
Apparently, dealers representing top import manufacturers are quite satisfied with their captives, as the top two companies in this category received the second- and third-highest scores in the entire Dealers’ Choice Awards and improved their scores by about 22 points each. The Diamond Award Winner (now a Double Diamond Award winner), BMW Financial Services, reclaimed the top spot by half of a point with a score of 149.
Coming in a close second is Platinum Award winner Toyota Financial Services with a 148.5, dubbing the company a Double Platinum Award winner. It’s also the only captive finance company to have won an award every year. “We strongly believe in putting our dealers and customers first. To also be recognized by those in the industry as a company that works tirelessly to provide unparalleled products and service is a great honor,” said Mike Groff, group vice president of sales, product and marketing, Toyota Financial Services.
Honda Financial Services also improved its score by almost 20 points to reclaim the Gold Award and earn the title of Double Gold Award winner. Stephen Smith, senior vice president of Honda Financial Services, said, “2009 was a difficult year for the finance industry and many banks left the auto finance business … Dealer financing has been a growth area for us, and we added many dealers who had been left without financing by their banks.”
Also scoring above average were Ford Motor Credit and GMAC. Ford’s score is no surprise, considering it’s been the top-ranking domestic in this category five out of the last six years.
|BMW Financial Services||Diamond||149.0|
|Toyota Financial Services||Platinum||148.5|
|Honda Financial Services||Gold||143.1|
|Ford Motor Credit||123.0|
Vol. 7, Issue 4