CFS (Consumer Financing Satisfaction
Study)
CFS is a measure of customer satisfaction with the entire
finance process among new-car buyers at one to six months of ownership. Performance is
measured by four factors that determine satisfaction. These are application process,
approval and documentation, finance advisor and loan value. Application process evaluates
attributes such as speed of completing the application process, ease of filling out
paperwork, variety of loan plans offered, and lack of hassles during the finance process.
Approval and documentation relates to speed of approval, ease of resolving problems, and
degree to which loan meets individual needs. Loan value, which evaluates competitiveness
of interest rates and other aspects of the loan term, contributes least to satisfaction
with the finance process. The financial institution which gets the highest score is ranked
as number one.
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