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DealerTrack Tool Enables Pre-Qualification of Financing Through Dealer Websites

February 07, 2011

SAN FRANCISCO — DealerTrack Inc., a subsidiary of DealerTrack Holdings Inc., an automotive software provider, introduced a new tool within its CreditOnline solution for dealerships' Websites. The tool allows consumers to securely submit personal and confidential credit application data to give dealers the ability to automate the pre-qualification of loans.

With its expanded capabilities, CreditOnline provides consumers with an immediate response regarding their automobile loan inquiries. These new customized responses, based on the dealer's own criteria and the customer's profile from their credit report, lets dealers "pre-qualify" and convert these Website leads directly to credit applications. This new capability also enables a dealer to route select applications immediately to lenders for a complete credit review and decision.

"Today, a dealer's Website has become a virtual extension of their showroom, and can be a valuable source of leads when optimized correctly," said Robert Granados, vice president and general manager of finance solutions at DealerTrack Inc. "Using CreditOnline, dealers can more effectively and efficiently convert visitors to their site into pre-qualified consumers.  This new solution will support a dealership's vision to evolve their Website from being a virtual marketing tool to a comprehensive sales and F&I platform."

CreditOnline will be available in the first quarter of 2011. The solution will be packaged with DealerTrack's subscription-based Compliance Solution, and will also be offered as a standalone solution.

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