Lake Success, N.Y. — The number of active lenders on Dealertrack Technologies’ Dealertrack Credit Application Network has exceeded 1,300, up from only five lenders in 2001.
The network allows dealers to electronically submit application data to a diverse network of banks, independent finance companies, captives and credit unions. “The network is a core and strategic part of Dealertrack’s overall Dealflow Advantage, designed to create greater efficiencies in financing and selling vehicles for dealers,” said Michael Collins, vice president of Lender Finance Solutions at Dealertrack.
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, according to the company.
In addition, Dealertrack Mobile enables dealers and lenders to securely manage and monitor finance and consumer credit application activities in real-time from their mobile device. Since its introduction last year, more than 23,000 users at more than 13,000 dealerships and lenders in North America are leveraging the power of the Dealertrack Mobile application.