PressClub Canada · Article.
BMW Financial Services ranks highest in Luxury Lease Satisfaction in J.D. Power and Associates New Vehicle Consumer Financing Study
Tue Dec 11 18:15:00 CET 2007 Press Release
Woodcliff Lake, NJ - December 11, 2007... BMW Financial Services of North America, LLC (BMW FS) ranked highest in satisfaction with initial consumer leases for luxury nameplates in the J.D. Power and Associates 2007 Consumer Financing Satisfaction Study released today.
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Barb Pitblado
BMW Group
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Author.
Barb Pitblado
BMW Group
Woodcliff Lake, NJ - December 11, 2007... BMW Financial Services of North
America, LLC (BMW FS) ranked highest in satisfaction with initial consumer
leases for luxury nameplates in the J.D. Power and Associates 2007 Consumer
Financing Satisfaction Study released today.
The top ranking in this study marks the first time * BMW Financial Services has
received the highest ranking in this important segment and reflects a 47 index
point increase that takes it from seventh to first place. BMW Financial
Services is the first financing provider to attain top ranking in both Retail
Leasing Satisfaction in the J.D. Power and Associates Dealer Financing
Satisfaction and Luxury Lease Satisfaction in the Consumer Financing studies in
the same year.
"While competitive financial offerings are an important factor in consumer
satisfaction, consumers are seeking more from their finance providers. Being
recognized in both the Dealer and Consumer studies speaks to the importance we
place on the three critical elements of success in business; the dealer
customer, retail owner and the manufacturer all having the same expectation of
peak performance. Consumers expect competent and courteous finance staff at the
dealership, complimented by efficient servicing of their contract for the life
of the loan, including accurate billing and prompt attention to questions and
concerns," said Edward A. Robinson, President and Chief Executive Officer of
BMW Financial Services, Americas Region.
"Our customers recognize the emphasis we place on their satisfaction and this
ranking acknowledges our commitment to them and to process excellence. Given
the wealth of choices available to the luxury consumer, we are delighted that
so many BMW drivers select BMW Financial Services as their financial services
provider of choice," he said.
Initiated 12 years ago, the J.D. Power and Associates' Consumer Financing
Satisfaction Study is conducted annually. The study aims to measure and
profile the voice of the consumer as it pertains to the vehicle financing
experience, with particular emphasis on four key factors of the auto financing
experience: provider offering, application/approval process, payment billing,
and customer contact.
About BMW Financial Services
BMW Financial Services was established in the U.S. in 1993 to support the sales
and marketing efforts of BMW of North America. Since then, the company has
expanded to provide service to markets in multiple countries and continues to
evolve beyond its role as a captive finance unit. BMW Financial Services
offers a wide range of leasing, retail and commercial financing and banking
products tailored to meet the needs of the BMW customer. The company also
provides financing to BMW dealers for expanding dealership capabilities and
enhancing overall operations. With over $25 billion in serviced assets and more
than 700,000 automotive lending customers, BMW Financial Services finances over
half of the BMWs sold or leased in the United States. BMW FS employs more
than 900 people, including consultants and temporary workers, most of whom are
located in the Hilliard, Ohio Customer Service Center.
In 2001, MINI Financial Services was established to provide support for the
brand's dealer and customer networks by offering various financing and leasing
options.
BMW Group Financial Services also offers an array of exciting credit card
products through its subsidiary, the BMW Bank of North America. up2drive.com
is a division of BMW Bank of North America, a wholly-owned subsidiary of BMW
Financial Services NA, LLC. BMW Insurance Agency, Inc., a property and
casualty producer, is also part of BMW Group Financial Services.
About J. D. Power and Associates
Headquartered in Westlake Village, California, J.D. Power and Associates is an
ISO 9001-registered global marketing information services firm operating in key
business sectors including market research, forecasting, performance
improvement, training and customer satisfaction. The firm's quality and
satisfaction measurements are based on responses from millions of consumers
annually. For more information on car reviews and ratings, car insurance,
health insurance, cell phone ratings, and more, please visit JDPower.com. J.D.
Power and Associates is a business unit of The McGraw-Hill Companies.
* BMW Financial Services was also the top-ranked provider in Initial Lease
Satisfaction in the Consumer Finance Satisfaction (CFS) Study in 1999 prior to
the segmentation of the awards by Luxury and Non-Luxury.
Information about BMW Group products is available to consumers via the Internet
at:
www.bmwgroupna.com
www.bmwusa.com
www.bmwmotorcycles.com
www.miniusa.com
www.rolls-roycemotorcars.com
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