Editor's note: The rankings for independent lenders have been corrected in this version of the story.
When finance providers act less like lenders and more like business partners, Canadian dealerships run more smoothly, the J.D. Power 2017 Canadian Dealer Financing Satisfaction Study found.
The 19th annual study, conducted in January and February, drew on more than 3,700 finance-provider evaluations by Canadian new-vehicle dealership staffers.
The study's conclusions likely will ring familiar to U.S. F&I practitioners. But the study also ranked 10 captive and nine noncaptive finance companies based on Canadian dealerships' satisfaction with them. BMW Financial Services Inc. led all captives, while Bank of Montreal scored highest among banks and other independent finance companies.
"A dealer has multiple options," said James Houston, senior director of automotive finance at J.D. Power. "If a lender can't meet needs, they're going to look elsewhere for someone that can deliver."