auto dealer in black and red logo
MenuMENU
SearchSEARCH

Dealers Wary of AI in Auto Finance

Poll shows growing aversion to technology’s accelerating part in process.

August 12, 2024
Dealers Wary of AI in Auto Finance

More dealer finance teams report disliking AI's influence in auto finance processes, including what they perceive as a lack of creative freedom.

Credit:

Pixabay/Raten Kauf

1 min to read


Dealer finance providers are ranked for dealership satisfaction in a newly released report that also finds dealers dislike the growing role of artificial intelligence in auto lending.

The J.D. Power U.S. Dealer Financing Satisfaction Study found more dealership finance offices are uneasy about AI in the space, up from 50% to 55% year-over-year. They most cite erosion of person-to-person communication, lack of creative freedom, and fear of job loss.

“There is a growing sense of concern among dealer finance teams that the increased prevalence of AI in the lending process will limit their ability to find creative solutions, forge key relationships with lenders and effectively close deals,” said Senior Director of Automotive Finance Intelligence Patrick Roosenburg in a press release on the findings.

“Lenders need to leverage past experiences and lessons learned in previous technological transformations, such as the introduction of digital and modern retailing technologies. These all ultimately improved the lending process for dealers who embraced the change and learned how to leverage technology to their advantage.”

Poll respondents ranked the following providers as the best:

Captive Premium – Prime

Jaguar Land Rover Financial Group

Captive – Mass Market – Prime

Southeast Toyota Finance

Noncaptive National – Prime

TD Auto Finance

Noncaptive Regional – Prime

Huntington National Bank

Noncaptive – Subprime

Ally Financial

 

More Industry

orange background behind a line of people with a crashed car in the middle
Industry•by Lauren Lawrence•October 16, 2026

Automaker Advances Safety for All

A new report by Volvo Cars Safety Centre analyzed the impact of 50 years' worth of research in automotive safety development

Read More →
The outside of a Jack Kain car dealership
Industry•by Hannah Mitchell•October 9, 2026

Kentucky Store Leaves Family

An auto group stretched across three states picked up the Lexington-area Ford fixture as its second store for the brand in the state.

Read More →
Auto Dealer Today, Dealer Debrief, 10/09/2026, with Lauren Lawrence
Industry•by Lauren Lawrence•October 9, 2026

U.S. Auto Brands Falling Behind

Asian auto brands are outpacing U.S. brands in stateside new-vehicle sales. Learn more in this week's Dealer Debrief with Lauren!

Read More →
Ad Loading...
Auto Dealer Today, Dealer Debrief, 10/02/2026, with Lauren Lawrence
Industry•by Lauren Lawrence•October 2, 2026

U.S. EV Market Update | Dealer Debrief

The U.S. electric vehicle market is slowly recovering from the loss of the federal EV tax credit last fall. Learn more in this week's Dealer Debrief!

Read More →
Q3 Financing Climbs, red arrow pointing down, percentage symbol, green arrow pointing up, Auto Dealer Today
Industry•by Lauren Lawrence•October 2, 2026

Auto Finance Numbers Set Records

Third-quarter data show how consumers are adapting to ongoing affordability challenges facing the new- and-used-vehicle markets.

Read More →
Cake with '50' candles on top
Industry•October 1, 2026

Auto Dealerships Can’t Afford to Ignore the 50+ Consumer

Younger generations may be all the buzz today when it comes to product marketing targets, but their older cohorts command a sizable share of purchasing power.

Read More →
Ad Loading...
Gray Toyota SUV parked outside of glass paned building
Industry•by Hannah Mitchell•September 25, 2026

Savings Seekers Boost U.S. Automakers’ Rivals

As consumers here look for ways to curb inflation’s affect on their budgets, brands offering plenty of alternative powertrains are closing in on home-grown OEMs.

Read More →
Various graphs and sheets of infographics laid out with handwritten post it notes.
Industry•by Lauren Lawrence•September 25, 2026

The Slow Electric Ascent

Second-quarter data show that the electric-vehicle market in the U.S. is inching up, the majority of states seeing a month-over-month increase.

Read More →
Auto Dealer Today, Dealer Debrief, 09/23/2026, with Lauren Lawrence
Industry•by Lauren Lawrence•September 23, 2026

Safer Rides & Cyberattacks

Vehicle crash testing is getting a virtual boost, but auto dealerships are facing increased cyberattacks. Learn more in this week's Dealer Debrief!

Read More →
Ad Loading...
Dealer Debrief, Auto Dealer Today, with Lauren Lawrence, 09/18/2026
Industry•by Lauren Lawrence•September 18, 2026

Affordability Angst | Dealer Debrief

August saw little relief for car buyers, whether they were shopping new or used. Take a look at the month's breakdown in this week's Dealer Debrief!

Read More →