Answering questions such as "What's needed to complete this customer's financing?" appears to be a main theme of which finance companies scored well in the J.D. Power 2017 U.S. Dealer Financing Satisfaction Study and which ones did not.

Analysts determined great relationships trump low interest rates and product mix when it comes to dealer satisfaction with auto financing institutions. According to the J.D. Power study released on Monday, the interactions between dealers and frontline personnel working in the finance company’s credit department are at the epicenter of that relationship.

“Across all segments of auto lenders — non-captive, captive mass market and captive luxury — the dealer’s relationship with the credit desk is a key driver of overall satisfaction and the lynchpin to a sustained, fruitful relationship,” said Jim Houston, senior director of the automotive finance practice at J.D. Power.

“Because the credit staff is often the first point of contact, not just for credit decisions, but also for problem resolution, the role has to evolve, with credit analysts becoming much broader subject matter experts and frontline sales personnel taking on more focused roles,” Houston continued.

J.D. Power highlighted three other key findings of the study, including:

—Credit desk becomes "tip of the sword" in building dealer satisfaction: For non-captive, captive luxury and captive mass market finance companies, the study showed the credit desk represents more than half of the survey weight for overall satisfaction, compared with the impact of sales representatives.

Overall, J.D. Power noticed the dealer/finance company relationship outweighs application and approval process, finance company offerings and lease return as the single most important variable associated with high levels of dealer satisfaction.

—Sales reps move away from problem solving toward selling value: J.D. Power learned dealers overwhelmingly indicate that the credit desk is their first point of contact when looking to resolve problems, far outpacing sales representatives, sales support staff and regional managers.

As such, the study indicated dealer satisfaction with sales reps is highest when reps focus on portfolio performance review, dealership performance consulting and customer retention versus problem resolution and training.

—Finding the Goldilocks scenario for dealer communications: J.D. Power found the optimal dealer communications mix for finance companies involves a predictable cadence of monthly visits paired with weekly calls and emails.

When touch points outside of these preferred parameters are used, overall satisfaction with sales reps falls by as much as 30 index points (on a 1,000-point scale).

“What this study really tells us is that many lenders should be taking a good long look at the way they are currently staffed and think about transitioning some of their most seasoned industry experts into problem-solving roles in the credit department,” Houston said.

“Correspondingly, they also need to think about how they're currently selling and re-evaluate whether it makes sense to have their best problem solvers on the road making sales calls,” he went on to say.

J.D. Power explained its study, which was significantly redesigned for 2017, measures dealer satisfaction in four segments of lenders: non-captive, captive mass market, captive luxury market and floor planning.

The non-captive analysis evaluates the dealer/finance company relationship across three factors: relationship, provider offerings and application/approval process.

In the captive mass market and luxury segments, four factors are evaluated: relationship, provider offerings, application/approval process and lease return.

Three factors are measured in the floor planning segment: relationship, portfolio management and provider credit line.

The 2017 U.S. Dealer Financing Satisfaction Study captured more than 11,622 finance provider evaluations across the four segments. These evaluations were provided by 4,245 franchised dealerships in the United States.

Breakdown of study rankings

Mercedes-Benz Financial Services ranked highest among providers in the captive luxury segment for the second consecutive year with a score of 972 points. It was followed by BMW Financial Services (955) and Infiniti Financial Services (953).

MINI Financial Services scored highest among providers in the captive mass market segment with a score of 954 points. Following in the mass market rankings were Volkswagen Credit (916) and Ford Credit (887).

TD Auto Finance took the highest rank among finance companies in the non-captive segment, with a score of 912 points. Citizens One Auto Finance follows with a score of 909 and Chase Automotive Finance and Huntington National Bank tied for third with a score of 906.

Mercedes-Benz Financial Services also ranked highest among floor planning provider, with a score of 986 points. TD Auto Finance followed with a score of 982 and Huntington National Bank and Volkswagen Credit tied for third with a score of 970.

Retail Credit Satisfaction Index Ranking (Based on a 1,000-point scale)

Captive Luxury
Mercedes-Benz Financial Services: 972
BMW Financial Services: 955
Infiniti Financial Services: 953
Captive Luxury Average: 930
Audi Financial Services: 926
Land Rover Financial Group: 896
Jaguar Financial Group: 894
Volvo Car Financial Services: 890

Captive Mass Market
MINI Financial Services: 954
Volkswagen Credit: 916
Ford Credit: 887
Subaru Motors Finance: 886
Nissan Motor Acceptance: 886
Mazda Capital Services: 877
Toyota Financial Services: 872
Captive Mass Market Average: 855
Honda Financial Services: 836
General Motors Financial: 811
Hyundai Motor Finance: 798
Kia Motors Finance: 775
Chrysler Capital: 770

Non-Captive
TD Auto Finance: 912
Citizens One Auto Finance: 909
Chase Automotive Finance: 906
Huntington National Bank: 906
BB&T: 888
Fifth Third Bank: 884
PNC Bank: 882
BMO Harris Bank: 880
Bank of America: 872
Ally Financial: 870
M&T Bank: 870
Non-Captive Average: 867
US Bank: 853
SunTrust Bank: 853
Capital One Auto Finance: 847
Wells Fargo Dealer Services: 828
Bank of the West: 781
Santander Auto Finance: 744

Floor Planning
Mercedes-Benz Financial Services: 986
TD Auto Finance: 982
Huntington National Bank: 970
Volkswagen Credit: 970
Ford Credit: 969
BMW Financial Services: 969
Audi Financial Services: 957
Chase Automotive Finance 957
Nissan Motor Acceptance: 943
Floor Planning Average: 940
Ally Financial: 939
Bank of America: 933
Hyundai Motor Finance: 919
General Motors Financial: 914
Kia Motors Finance: 899
Chrysler Capital: 849