For the past couple years, dealers have rated five captive finance companies high enough to make the Dealers’ Choice Awards listing. This year, however, only three companies scored recognition from their respective dealer bases.
by Staff
May 19, 2011
1 min to read
Captive Finance - Prime Credit
For the past couple years, dealers have rated five captive finance companies high enough to make the Dealers’ Choice Awards listing. This year, however, only three companies scored recognition from their respective dealer bases.
After two Platinum Awards in 2009 and 2010, Toyota Motor Credit regained the top spot and Diamond Award in 2011. This is the company’s seventh straight award win; it’s won a total of five Diamond and two Platinum Awards. It’s the only captive finance company to be recognized with an award every year.
As a five-time award winner, this year’s Platinum Award recipient, American Honda, improved its placement over a Gold finish in 2010. The company has won three Platinum and two Gold Awards.
The 2011 Gold Award goes to Ford Motor Credit, which has received an above-average score from its dealers five out of the past six years. This year marks the company’s second award win; it received Platinum in 2006. In ‘07, ‘09 and ‘10, it garnered fourth-place finishes.
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
