The Industry's Leading Source For F&I, Sales And Technology

Software & Technology

DealerTrack Lender Network Connects 730th Financing Source

January 27, 2009

LAKE SUCCESS, N.Y. -- DealerTrack Inc., a subsidiary of DealerTrack Holdings Inc., a software provider for the automotive industry, announced last Saturday that the number of active financing sources connected to the DealerTrack network has reached 730.

Mark O'Neil, chairman and chief executive officer of DealerTrack, said, "In today's challenging environment, dealers clearly see the benefit of fostering strong relationships with a diversified portfolio of lenders, from national and regional banks to finance companies and credit unions. For dealers focused on expanding those relationships, DealerTrack provides free online access to significantly more financing sources than anyone else in the marketplace."

Approximately 90 percent of all franchised automotive dealers in the United States are active users of DealerTrack's 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. In addition to this market-leading network, DealerTrack offers subscription and other transaction-based products to dealers that integrate with the credit application process and provide an end-to-end dealership technology solution.

"Our ability to continue growing the DealerTrack network in the current environment is a powerful testament to its value proposition," said Rick Von Pusch, senior vice president of sales, marketing and international at DealerTrack. "While some lenders have exited the auto market, others are taking their place, and financing sources increasingly perceive joining our network as a competitive advantage in building their automotive business."

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  

CLOSE [X]

READ NEXT

Asbury Automotive Group to Accelerate Implementation of DealerTrack Arkona DMS

DealerTrack Systems Inc. announced that Asbury Automotive Group Inc. has decided to accelerate the implementation of the DealerTrack Arkona dealer management system (DMS) across its entire store base.