GM Financial ranked poorly in the recently published 2020 J.D. Power U.S. Dealer Financing Satisfaction Study.
J.D. Power says its U.S. Dealer Financing Satisfaction Study “measures auto dealer satisfaction” with lenders across six different types of financing: captive luxury–prime, captive mass market–prime, lease, non-captive national–prime, non-captive regional–prime and non-captive sub-prime. The study is based on responses from 3,960 auto dealer financial professionals fielded between August 2020 and September 2020.
GM Financial was the third worst ranked financing company included in the study for Captive – Mass Market financing, finishing just head of Nissan’s NMAC in the second-to-last spot and Chrysler Capital in last.
GM Financial was also third last in the Lease financing category, once again finishing just ahead of NMAC and Chrysler Capital. Volkswagen Credit lead the way in the Captive – Mass Market financing category, while Audi Financial Services was on top in the Lease category.
Patrick Roosenberg, director of automotive finance intelligence at J.D. Power, said financial institutions like GM Financial will need to focus on strong communication with dealerships going forward if they wish to improve customer satisfaction with their services.
“The pandemic has severely disrupted dealer-lender communication, with many dealers reporting that lenders were delayed or not available when they needed them, or not able to assist in a timely manner,” said Roosenberg. “With lenders’ sales reps forgoing on-site dealer visits and the credit staff and funders working remotely, the need for consistent and reliable communication is paramount to dealer satisfaction. Lenders will need to step up their efforts to deliver high levels of service to help facilitate sales, whether those transactions are happening virtually or in the dealership. Knowledgeable, helpful and available sales reps, credit analysts and funders can help drive incremental business.”
GM Financial recently celebrated its 10-year anniversary in October. General Motors’ captive finance arm was established in 2010 after the Detroit-based automaker acquired AmeriCredit for $3.5 billion. The automaker renamed the company GM Financial, using it for in-house vehicle financing and leasing options for customers in the United States and Canada.
“GM’s growing captive finance company has become an integral and strategic business unit since it was acquired in 2010 and renamed GM Financial, supporting both customers and dealers across economic cycles,” the automaker said in a statement released earlier this year.
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Comments
When I read the title to this article, I was thinking GMF ranked low with the buyers. My thought was that my personal experience with GMF has been outstanding. I had them with the 2018 Encore and the 2020 Spark. When I paid the Spark off last month, they were really quick and had the title to me in no time at all along with a check from what I over paid them.
After reading the story, I see it’s how dealers ranked GMF. Could it be that the dealers and finance staff that are always attempting to stick the buyers with junk, are just not happy with GMF because they don’t allow them to take total advantage of the customers? I know that I work for a dealership and have for over 18 years now, so people may think that I’m ok with the games and BS the dealers play. Nope. I hate it and I’ve always put my clients first even if it pis–s off finance.
Only 2 TWO do it worse than GM here once again Dan Berning ,
Look at all of those customers that have chosen another automaker over GM !
Look at all of those customers who you say do not know the difference !.
Well that right there is a lot of people who say GM is third form the worst !
O I bet its the article, or the source, But next week when the same source loves GM then Dan Berning loves GM !
Way to have an independent thought Dan Berning.
Keep it up !
You are great !
Only 2 TWO do it worse than GM here once again Dan Berning ,
Look at all of those customers that have chosen another automaker over GM !
Look at all of those customers who you say do not know the difference !.
Well that right there is a lot of people who say GM is third form the worst !
O I bet its the article, or the source, But next week when the same source loves GM then Dan Berning loves GM !
Way to have an independent thought Dan Berning.
Keep it up !
You are great !
.
Only 2 TWO do it worse than GM here once again Dan Berning ,
Look at all of those customers that have chosen another automaker over GM !
Look at all of those customers who you say do not know the difference !.
Well that right there is a lot of people who say GM is third form the worst !
O I bet its the article, or the source, But next week when the same source loves GM then Dan Berning loves GM !
Way to have an independent thought Dan Berning.
Keep it up !
You are great !
..
Only 2 TWO do it worse than GM here once again Dan Berning ,
Look at all of those customers that have chosen another automaker over GM !
Look at all of those customers who you say do not know the difference !.
Well that right there is a lot of people who say GM is third form the worst !
O I bet its the article, or the source, But next week when the same source loves GM then Dan Berning loves GM !
Way to have an independent thought Dan Berning.
Keep it up !
You are great !
…
Im sure there is a way to blame the GM customer for this !
Right Dan Berning ?
Its probably the dealers fault right ?
Right Dan Berning
Right !
Im sure there is a way to blame the GM customer for this !
Right Dan Berning ?
Its probably the dealers fault right ?
Right Dan Berning
Right !
Im sure there is a way to blame the GM customer for this !
Right Dan Berning ?
Its probably the dealers fault right ?
Right Dan Berning
Right !
.
Dan Brening ‘
He is only on this site to tell the GM customer he does not agree with that they are stupid losers !
Make sure you agree with Dan Berning, he is always right.
When Dan Berning is around the others do not get an opinion !
Right Dan Berning, right !
Actually this makes a lot of sense. In my experience it’s been the dealer side that’s been an issue. I’m guessing it’s harder for the shady dealers out there to play a numbers game with them when incentives are tied to financing. I have a couple dealers I really trust and then a couple I’ve used for service in my travels and could just tell “something ain’t right here”. I’m not sure what’s up with the replies to your comment but they don’t reflect what you said.
Customer wise, GMAC has actually been the easier company I’ve worked with financing wise, great app, they actually respond to emails and I had a flawless SCRA lease turn-in experience.
Only 2 TWO do it worse than GM here once again Dan Berning ,
Look at all of those customers that have chosen another automaker over GM !
Look at all of those customers who you say do not know the difference !.
Well that right there is a lot of people who say GM is third form the worst !
O I bet its the article, or the source, But next week when the same source loves GM then Dan Berning loves GM !
Way to have an independent thought Dan Berning.
Keep it up !
You are great !.
Dan Brening ‘
He is only on this site to tell the GM customer he does not agree with that they are stupid losers !
Make sure you agree with Dan Berning, he is always right.
When Dan Berning is around the others do not get an opinion !
Right Dan Berning, right !
Dan Brening ‘
He is only on this site to tell the GM customer he does not agree with that they are stupid losers !
Make sure you agree with Dan Berning, he is always right.
When Dan Berning is around the others do not get an opinion !
Right Dan Berning, right !
..
Dan Brening ‘
He is only on this site to tell the GM customer he does not agree with that they are stupid losers !
Make sure you agree with Dan Berning, he is always right.
When Dan Berning is around the others do not get an opinion !
Right Dan Berning, right !
…
Dan Brening ‘
He is only on this site to tell the GM customer he does not agree with that they are stupid losers !
Make sure you agree with Dan Berning, he is always right.
When Dan Berning is around the others do not get an opinion !
Right Dan Berning, right !
….
I will not let you continue to degrade the other soles here any longer Dan Berning !
I will not let you continue to degrade the other soles here any longer Dan Berning !
..
Dealers are upset because we are asking them to do their jobs: send us the correct paperwork we need so we can send out the title, put the correct information on said paperwork to help expedite the process, send us checks that we don’t have to send back to you because you made a mistake. We usually get nasty notes sent back with these that are pretty hilarious like, we just should have taken a $75,000 check without a signature. It’s rich.
We try to set up processes to make their jobs easier like starting ach payment processing instead of them having to send in paper checks, but most of them REFUSED to do it. We gave them access to our system to get info they need so the other angry letters they write about not being able to get answers to their questions is moot. They are lazy and don’t want to log-in to the system and find the answer themselves. The article blames people working remotely, but not everyone is. I go in everyday. If it’s deemed necessary to go in to do your job, then you’re going in!
wasn’t this part of the plot to the movie fargo?
Can say as a customer, dealer has always been the sticking point. Was happy with GMAC when it became Ally, then had a lease with GM Financial and was good also. Then again I paid on time 🤷♂️
I am a customer of GM Financial and I agree with the ranking it got. They have terrible customer service. When calling customer service, you will be on hold waiting for 30 mins. Or even an hour. The automated system says the wait is 15 mins like every 20 mins to you. I asked GM Financial to send me paperwork and they said they don’t know how. Also the dealership pulled some shady sh** with gm financial and I was never told about it . GM Financial charges a lot on interest as well. GM FINANCIAL SHOULD HAVE BEEN LAST INSTEAD OF 3RD.
I agree GM should have rank last very poor customer service they don’t want to work with getting you a lower interest rate
I too am a customer of GMF and they suck overall in customer service. I got told in calls about 6 MONTHS apart after sitting on hold for 15+ minutes that “their phone system was being updated” as the reason I was on hold so long… How long can a telephone upgrade take? This is just one example of how the CS agents spout bull to customers.