It's surprising it's taken this long.
Up until now, Cadillac dealers have lacked a major customer service component available to other GM brands. That ends next year. Cadillac will be getting its own financing division that'll make the buying experience more streamlined for customers. Very appropriately called Cadillac Financial, an arm of GM Financial, a Cadillac spokesperson told Automotive News the program will launch in the middle of next year. This is something Cadillac dealers have long requested but never received. So why is it happening now?
Because of new all-electric models, beginning with the Cadillac Lyriq. GM and Cadillac see the need for buyers to have more services, specifically online, to make purchasing and owning a Caddie easier than ever.
"This is far beyond a rebranding exercise, it's an ecosystem approach to deliver a frictionless, seamless experience that is fully connected, predictive and highly personalized," said Mahmoud Samara, Cadillac North America vice president of Sales, Service and Marketing, in a statement. "Cadillac Financial is a key enabler to growing the business profitability for both Cadillac and our dealers by delivering a world-class luxury customer experience."
Those familiar with GM Financial will find many similarities with Cadillac's financing division.
Some of the services customers will enjoy include a dedicated and "highly-skilled" luxury concierge team trained to quickly resolve any problems, a brand-new website, and an advanced online payment experience with various digital tools like a mobile app and chat function.
None of these will be offered to Chevy, Buick, and GMC buyers. You'll literally be able to build and buy a new Cadillac on your smartphone. Cadillac is currently undergoing a transition to an all-electric vehicle future, beginning with the Lyriq. A pure battery-electric Escalade is due mid-decade.
Not long ago, Cadillac requested its dealers to either invest at least $200,000 in necessary EV infrastructure or close down. As a result, the brand bought out around 20 percent of its US dealer network, at the time numbering 870 stores. Dealers that decided to remain in the game have since been screaming even louder for their own financing arm in order to better compete with other luxury brands. Their wish is finally being granted.