Partnership Integrates Use Car Values With Online Credit Applications

MELVILLE, N.Y. and MCLEAN, Va., -- DealerTrack, Inc. and the NADA Official Used Car Guide Company are partnering to provide a product that integrates used vehicle valuations with an online credit application system.

DealerTrack BookOut will be used with NADA Official Used Car Guide values to transform a cumbersome, time-consuming process into a seamless integrated bookout solution, said Scott Lilja, CEO of the NADA Official Used Car Guide Company.

Currently, many auto dealers and financing sources subscribe to NADA´s printed guides, which are issued monthly with updated vehicle valuations. To complete a credit application involving a used car, dealership personnel must locate the latest guide, look up the correct vehicle and manually enter the information on the application.

DealerTrack BookOut allows dealers to obtain the used car values with automatic updates each month. The dealer can then transfer all the vehicle information to a DealerTrack credit application electronically.

When DealerTrack BookOut is used to calculate the value of a used vehicle and to fill out a credit application, a “BookOut” flag is checked to signal finance sources that the value shown on the credit application is derived from an industry standard guide.