DealerTrack's Helping Dealers with Auto Loans

DealerTrack is offering software that will enable dealerships to automate their auto loan process. This will save the dealerships time and money on processing the auto loans, and also help them with other areas of the process as well.

The program will not only automate their auto loan process, it will also manage their inventory and assist them in selling warranties and other auto loan services to their customers. Those dealers that are already using it say that it has streamlined the auto loan business. It also helps them keep track of the other facets that selling cars and processing auto loans generate.

The company says that they enable the dealers to get more profit, and with that in mind, it is hard for dealers to say no. They already have 23,000 dealerships using their program, as well as 350 lenders. Those that are using it have no complaints with the auto loan process now. They have almost all franchised dealerships, but are looking to bring their auto loan software to independent dealers as well.

The company gets paid a fee per auto loan application that goes through the process. This way if the dealer ends up making some sort of deal with the customer that gives them 0% financing or discounting on the car, they are not affected by that part of the deal. With the auto loan process being sped up, the dealers and lenders are able to offer more loans in less time.


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