VW Credit, Inc. Ranked Highest in Initial Loan Satisfaction Among Financial Providers
24 November 1997
VW Credit, Inc. Ranked Highest in Initial Loan Satisfaction Among Financial ProvidersAUBURN HILLS, Mich., Nov. 24 -- VW Credit, Inc. and its divisions Volkswagen Credit and Audi Financial Services, were recently honored as the highest ranking financial services provider for initial retail loan satisfaction in J.D. Power and Associates 1997 Consumer Financing Satisfaction Study. "The creation of Audi Financial Services and Volkswagen Credit, in addition to the highest ranking in loan satisfaction, culminate an incredible year," said VW Credit President, Klaus-Dieter Schuermann. "We understand the importance of a strong relationship with our manufacturers and our dealers because to the consumer, we are inseparable. Together we work very hard to provide consumers with the highest value possible." The study shows that consumers' initial satisfaction with automotive financing providers is driven by three issues: the set-up process, the billing process, and the extent to which the consumer feels that their finance provider delivered value. There is a strong positive relationship between initial financing satisfaction and the propensity of provider customers to either recommend or consider using the provider again in the future. According to the study, when consumers use the manufacturers captive they are more likely to retain the manufacturer on their next vehicle purchase than they are if they use a bank, independent, or credit union. Furthermore the consumer is more likely to return to the same dealership as well. VW Credit, Inc., through its Volkswagen Credit and Audi Financial Services brands, offers retail financing for new, used, and leased vehicles, as well as wholesale financing, mortgages and capital loans. SOURCE Volkswagen of America