DealerTrack Connects 800th Financing Source to Network

LAKE SUCCESS, N.Y. - DealerTrack, Inc.'s number of active financing sources connected to the DealerTrack network has reached 800.

"In today's credit-challenged market, dealers clearly see the benefit of working with a diversified group of lenders, from national and regional banks to finance companies and credit unions," said Mark O'Neil, chairman and CEO of DealerTrack. "By providing dealers free online access to the large and growing number of lenders on our network, DealerTrack helps dealers expand their financing relationships and close more vehicle sales."

O'Neil continued: "And in fact, the pace at which we have added the last 50 new lenders to our platform has accelerated significantly versus the time to add the prior 50 new lenders. We believe that this is both an indication that the U.S. automotive market is improving and an ongoing expression of the strength of the DealerTrack network."

Through DealerTrack, dealers can electronically submit credit applications to the industry's largest and most diverse network of banks, independent finance companies, captive finance companies, credit unions and regional banks. DealerTrack subscription and other transaction-based products integrate with the credit application process and provide an end-to-end dealership technology solution.