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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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August 2007 Archives
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