With Fewer Opportunities, Auto Lenders in Canada Need to Deliver on Value Proposition

As supply-chain issues affect available inventory at auto dealerships in Canada, it also means fewer new- and used-vehicle transactions during which lenders can provide a high level of service to dealers and deliver on their value proposition. According to the J.D. Power 2022 Canada Dealer Financing Satisfaction Study,^SM released today, overall satisfaction increased across all four segments in this year’s study—despite the decline in new-vehicle transactions.

“Dealers are looking for a seamless, speedy interaction with a lender, and lenders need to be laser-focused on satisfying that need—especially when the volume of transactions is reduced,” said Patrick Roosenberg, director of automotive finance intelligence at J.D. Power. “Even with increased automation in the approval and funding processes, lenders must find a way to differentiate themselves from other lenders, whether it’s system-related or actions taken by funding, retail credit or sales reps.”

Read the full press release for additional key findings and brand rankings >