U.S. Consumer Financing Satisfaction Study Award Information
Press Release Date: November 14, 2024
Stay tuned for the 2024 results
View insights from the J.D. Power 2023 U.S. Consumer Financing Satisfaction Study
Consumer Financing Insights
Recapture & Conquest
Many auto loan customers begin the research process several months prior to purchasing or leasing a vehicle. Effective marketing and communications during this period can lead to a greater customer recapture rate and conquest opportunities.*
Consumer Choice
"Consumers have more lending choices than ever before. They’re doing more research and doing that research earlier in the vehicle-buying process. That’s why the customer experiences they are having with their existing lender is so important.” - Patrick Roosenberg, Senior Director of Automotive Finance Intelligence at J.D. Power
Customer Retention
Against a backdrop of rising interest rates, slowing loan/lease volumes, and increased competition, auto lenders are finding that one of the most valuable future customers are the ones they already have.*
*J.D. Power 2022 U.S. Consumer Financing Satisfaction StudySM
The J.D. Power U.S. Consumer Financing Satisfaction Study
The study takes a comprehensive look at the satisfaction of borrowers who financed a new or used vehicle through a loan or lease. The study has been designed to fully understand the evolving digital experience from origination to servicing pinpointing what matters most to finance customers and what factors are essential for creating a satisfying digital experience including account management; application/approval process; billing and payment process; customer orientation process; and customer service experience.
Award Information
J.D. Power will issue a national press release highlighting key findings and top-to-bottom rankings from the study. The brand(s) that rank highest in each award-eligible segment and meet predetermined award criteria will have the opportunity to enter into a licensing agreement through the J.D. Power Awards Program, which requires subscribing to the study as a prerequisite.
Active licensees can purchase merchandise to promote their commitment to excellence.
Consumer Financing Awards in Action
J.D. Power Awards provide the highest-performing companies within our benchmarking studies the chance to let consumers know that they put their customers first. As the trusted symbol of the Voice of the Customer, our awards help companies increase consumer consideration and ensure that the top-ranking brands stand out in the crowd.
J.D. Power Performance Reports - Additional Brand Licensing Opportunities
J.D. Power Performance Reports are customized, client-commissioned reports that highlight above-average performance by companies in J.D. Power syndicated studies. Each report is written and designed by J.D. Power, and features research findings and charts from the study, with a focus on the sponsoring client’s ranking and performance.
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