For the fourth consecutive year, TD Auto Finance has been recognized for its exceptional customer service, earning the highest ranking in Dealer Satisfaction among National Non-Captive Lenders with Prime Credit in the J.D. Power 2023 U.S. Dealer Financing Satisfaction StudySM. This prestigious award underscores TD Auto Finance’s unwavering commitment to providing superior customer service and building strong relationships with its dealer partners.
TD Auto Finance achieved a remarkable overall score of 878 out of 1,000 in the non-captive national prime credit segment, significantly outperforming the segment average by 114 points. This impressive score reflects the dedication of TD Auto Finance to exceeding dealer expectations and providing a seamless and supportive experience. The study highlighted TD Auto Finance’s top performance across all critical aspects of dealer satisfaction, demonstrating a holistic approach to customer service excellence.
Driving Dealer Satisfaction Through Exceptional Service
The J.D. Power study evaluated lender performance across five key factors, and TD Auto Finance achieved the highest scores in every category. These factors are crucial indicators of a finance provider’s commitment to customer service and operational efficiency:
- Funding Process: TD Auto Finance excels in providing a swift and efficient funding process. Dealers appreciate the speed and ease with which deals are funded, enabling them to serve their customers more effectively and manage their cash flow smoothly. This streamlined process is a testament to TD Auto Finance’s focus on understanding and addressing dealer needs.
- Credit Staff Relationship: Building strong, reliable relationships with credit staff is paramount for dealer satisfaction. TD Auto Finance’s credit staff are recognized for their expertise, responsiveness, and proactive communication, fostering a collaborative and supportive environment for dealers. This personalized approach to customer service ensures dealers feel valued and understood.
- Finance Provider Offerings: TD Auto Finance provides a comprehensive suite of finance products and services tailored to meet the diverse needs of dealerships and their customers. These offerings are designed to be competitive and flexible, providing dealers with the tools they need to succeed in a dynamic market. This commitment to providing valuable and relevant offerings is a key component of their customer service strategy.
- Sales Representative Relationship: The relationship with sales representatives is a critical touchpoint for dealers. TD Auto Finance sales representatives are lauded for their industry knowledge, proactive support, and dedication to helping dealers achieve their business goals. This strong sales representative network ensures dealers have consistent and reliable support.
- E-Contracting Process: In today’s digital age, an efficient e-contracting process is essential. TD Auto Finance’s e-contracting system is recognized for its ease of use, speed, and reliability, simplifying the contract process for dealers and enhancing overall efficiency. This technological proficiency underscores TD Auto Finance’s commitment to modern and convenient customer service solutions.
A Customer-Centric Approach to Auto Financing
Ernie Diaz, Head of U.S. Consumer Distribution, Wealth and TD Auto Finance, emphasized the bank’s core values, stating, “At TD Bank, we pride ourselves on delivering legendary service, advice and guidance to all of our customers. To win four years in a row demonstrates an unwavering commitment to keeping the customer at the center of every decision.” This statement highlights the fundamental principle driving TD Auto Finance’s success: a relentless focus on the customer.
Andrew Stuart, President and CEO of TD Auto Finance, further reinforced this customer-centric approach by thanking dealers for their feedback. “It’s an honor to receive the highest ranking again, but it’s even more important to understand dealer expectations, so we can continue to improve upon the products, services and processes we need to be successful together in today’s market,” said Stuart. This commitment to continuous improvement and responsiveness to dealer feedback solidifies TD Auto Finance’s position as a leader in customer service within the auto financing industry.
About TD Auto Finance
TD Auto Finance, a division of TD Bank, N.A., is a leading auto lender in the U.S. market, serving over 1.1 million consumers and partnering with more than 6,800 franchised dealerships nationwide. Offering a comprehensive range of financial solutions, including indirect retail financing and commercial financing, TD Auto Finance is dedicated to supporting its dealer network and providing exceptional service. With its headquarters in Farmington Hills, Michigan, and operations across the U.S., TD Auto Finance continues to prioritize customer service excellence and strengthen its partnerships within the auto industry.
For more information about TD Auto Finance and its services, please visit https://www.td.com/us/en/commercial-banking/industry/auto-finance.
Source: J.D. Power 2023 U.S. Dealer Financing Satisfaction StudySM
