Dealertrack Credit Application Network Now Connects More Than 1,500 Lenders
13 11월 2014 - 12:00AM
Business Wire
Industry’s Largest Credit Application Network
Contributes to Thousands of Success Stories since 2001
Dealertrack Technologies (Nasdaq:TRAK) today announced that the
number of active lenders connected to the Dealertrack Credit
Application Network has surpassed 1,500 lenders.
The Dealertrack Credit Application Network, part of
Dealertrack’s Dealflow Advantage, has grown from five lenders in
2001 to more than 1,500 lenders today. The Dealertrack network
allows dealers to electronically submit application data to the
industry’s most diverse network of captives, banks, credit unions
and independent finance companies. With Dealertrack’s Dealflow
Advantage and compliance leadership, dealers and lenders are seeing
greater efficiencies in financing and selling vehicles through
advanced automated processing.
“Today’s credit markets continue to be vibrant, and dealers are
maintaining a healthy mix of prime, subprime and full spectrum
lending options to help customers get financed with ease, while
creating operational efficiencies through electronically processing
automotive loan applications,” said Michael Collins, senior vice
president, F&I Solutions, Dealertrack.
Lenders, like American Finance Company, a Baton Rouge,
Louisiana-based finance company, are just one of many automotive
finance organizations that have realized efficiencies using the
Dealertrack network. In September 2012, American Finance Company
was established to serve subprime customers in their market,
enrolling in Dealertrack for submitting and tracking credit
applications and contracts. Today, Automotive Finance Company
decisions deals in less than two minutes, helping them conduct
indirect automotive lending like many large lending companies. To
date, they have booked $7 million in loans, every penny of which
was generated through Dealertrack.
1,500 Lenders – Thousands of Success Stories
“With this milestone of 1,500 lenders comes thousands of
stories, like American Finance Company’s, of how automated
automotive loan processing has changed and improved business
lending organizations over the years,” Collins added. “We’d like to
acknowledge the achievement of this milestone by celebrating the
lenders that helped make the largest credit application network
possible. The Dealertrack network has given dealers a powerful and
effective tool for processing loans easily and efficiently.”
Dealertrack is sharing both dealer and lender success stories
with the Dealertrack Credit Application Network. Visit
www.dealertrack.com to read stories, submit your own or recommend a
lender who goes above and beyond to serve their dealer clients and
consumers.
Dealflow Advantage: Driving Profits and Value for Dealers and
Lenders
The Dealertrack Dealflow Advantage underscores Dealertrack's
commitment to workflow efficiencies that help drive profits and
value through every step of customer interactions and transactions
for dealerships. Dealers can leverage the Dealflow Advantage
through a number of Sales and F&I tools and solutions,
including digital retailing, credit application processing,
F&I product aftermarket selling, electronic contracting,
compliance and registration and titling, to create a seamless and
efficient customer experience and workflow.
About Dealertrack Technologies
(www.dealertrack.com)
Dealertrack Technologies, headquartered in Lake Success, New
York, delivers integrated web-based tools, services and
technologies that drive efficiencies and profitability for
automotive retailers, including dealers, lenders, OEMs, third-party
retailers, agents and aftermarket providers. Currently, Dealertrack
hosts more than 60 million unique visitors per month on 20,000
dealer websites, and operates the industry’s largest online credit
application network, connecting more than 20,000 dealers with more
than 1,500 lenders. Dealertrack’s market-leading suite of
integrated solutions include Dealer Management Systems (DMS),
Inventory, Sales and F&I, Digital
Marketing, Registration and Titling, CRM, Fixed Operations and
Independent Dealer solutions.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the benefits of
Dealertrack solutions, any conclusions or statements based thereon
and all other statements in this release other than the recitation
of historical facts are forward-looking statements (as defined in
the Private Securities Litigation Reform Act of 1995). These
statements involve a number of risks, uncertainties and other
factors that could cause actual results, performance or
achievements of Dealertrack Technologies to be materially different
from any future results, performance or achievements expressed or
implied by these forward-looking statements.
Factors that might cause such a difference include the
performance and acceptance of the Dealertrack solutions and other
risks listed in our reports filed with the Securities and Exchange
Commission (SEC), including our Annual Report on Form 10-K for the
year ending December 31, 2013 and our Quarterly Reports on Form
10-Q. These filings can be found on Dealertrack Technologies'
website at www.dealertrack.com and the SEC's website www.sec.gov.
Forward-looking statements included herein speak only as of the
date hereof and Dealertrack Technologies disclaims any obligation
to revise or update such statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events or circumstances.
TRAK-G
Dealertrack Technologies, Inc.Ken Engberg,
516-734-3692kenneth.engberg@dealertrack.comorMichael DeMeo,
516-734-3691michael.demeo@dealertrack.com
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