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Toronto, Ontario – GMAC has ranked highest among finance providers in retail credit, leasing and floor planning in Canada for a second consecutive year, according to the J.D. Power and Associates 2008 Canadian Dealer Financing Satisfaction Study. The study examines dealers’ satisfaction with their finance providers in the segments of retail credit, retail leasing and floor planning. GMAC ranks highest in retail credit with an index score of 907 on a 1,000-point scale, along with 903 points in retail leasing and 939 in floor planning.
Across the industry, average dealer satisfaction in each segment has increased. After three consecutive years of declining satisfaction, dealers’ satisfaction with their overall relationship with their lender has increased by 17 points, driven mainly by improvements by banks and independent providers.
The study also found that 61 per cent of dealers say that the importance of sub-prime retail credit will increase within the next year, as more individuals with high credit risk look to purchase new vehicles but do not qualify for prime rates.
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