LAKE SUCCESS, N.Y. — DealerTrack Inc. announced Monday that the number of active financing sources connected to the DealerTrack network has reached 750.
"Our achievement of this historic milestone for the DealerTrack network underscores our commitment to helping dealers succeed in this credit-challenged market," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "We believe the large and growing number of lenders on our network continues to provide a critical competitive advantage for our dealer customers by making more finance sources available to help them close sales."
Approximately 90 percent of all franchised automotive dealers in the U.S.are active users of DealerTrack's network. Through DealerTrack, dealers can electronically submit credit applications to the industry's network of banks, independent finance companies, captive finance companies, credit unions and regional banks.
In addition to its credit network, DealerTrack is a provider of both on-demand dealer management systems (DMS) and inventory management solutions in the U.S. DealerTrack subscription and other transaction-based products integrate with the credit application process and provide an end-to-end dealership technology solution.
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