BMW Financial Lauded by J.D. Power & Assoc.
August 11, 2005
Filed under Uncategorized
BMW Financial Services, a BMW Group company that provides financial services to buyers of BMW brand vehicles, including motorcycles, has been ranked highest in dealer satisfaction with both prime retail credit and retail leasing in the J.D. Power and Associates Dealer Financing Satisfaction Study. It is the second consecutive year BMW Financial Services has received the distinction.
In the retail leasing category, the company placed at the top of all four retail leasing factors: offering, application/approval process, personnel, and lease-end termination.
In the prime retail credit category, BMW FS was highest on three of four prime retail credit factors and leads the industry on speed of funding and consistency of credit decisions. Captives, in general showed improvement in this area due to strong performance in credit personnel, application/approval process and termination policy.
"These awards are a direct result of the excellent relationship we enjoy and value with the members of our dealer organization," said Ed Robinson, chief executive officer of BMW Financial Services, Americas Region.
BMW Financial Services, Americas Region, has a portfolio of managed assets of nearly $20 billion, with most of that from the U.S. market. The organization supports more than 500,000 customers in the Americas and leases or finances more than half of the new BMW vehicles sold in the U.S.
All lease servicing, including credit, funding, customer service, title administration, lease-end and collections are handled at the company's Dublin, Ohio, customer service center. A growing portfolio of banking and credit card offerings is also available through the BMW Bank of North America, based in Salt Lake City.