CHERRY HILL, N.J., Aug. 14, 2018 /PRNewswire/ -- TD Auto Finance (TDAF), a subsidiary of TD Bank, America's Most Convenient Bank®, received the Highest score in Dealer Satisfaction with Floor Planning, according to the 2018 J.D. Power U.S. Dealer Financing Satisfaction StudySM.
TDAF achieved a score of 994 in the Floor Planning segment of the Study, 59 points ahead of the industry average. Dealers evaluate their experience in three key areas and TDAF achieved the highest score in the following factors: relationship; floor plan portfolio management; and finance provider credit line.
"Floor Plan is a cornerstone of our national growth strategy in automotive and these results indicate that we're on the right track," said Greg Braca, President and Chief Executive Officer, TD Bank. "I'd like to thank all of the dealers that provided us with the opportunity to respond to their feedback. Our vision is to Be the Better Bank and the team is excited to see how we can leverage these insights to provide even greater value to our dealers."
The J.D. Power Dealer Finance Satisfaction Study profiles dealer satisfaction with auto finance providers in four segments of lenders: Non-Captive, Captive Mass Market, Captive Luxury Market and Floor Plan. Dealers also evaluated TDAF in the Retail Credit – Non-Captive segment and TDAF received a score of 917, exceeding the industry average by 97 points.
"We recently expanded the Floor Plan offering nationwide and we're pleased our customers see value in what we are delivering," said Andrew Stuart, President and Chief Executive Officer, TD Auto Finance. "The Floor Plan product is a vital piece of a dealer's business and it's especially exciting to see high scores in the relationship components of the Study that reflect TDAF's focus on the Dealer Experience."
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9 million customers with a full range of retail, small business and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.
SOURCE TD Bank