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Chrysler Financial Celebrates Industry-First Technology Milestones

June 25, 2008

FARMINGTON HILLS, Mich. –- Chrysler Financial announced its automated contract origination process has reached many industry-firsts, and continues to lead the market with innovative dealership technology solutions.

Chrysler Financial is the only U.S. automotive lender to offer a data verification system that can support both retail and lease transactions. Early this year Chrysler Financial completed a series of enhancements to its AutOrigination product, which enabled additional dealer service providers to seamlessly integrate.

The contract data validation system edits more than 300 fields and guarantees that a contract is valid at the point-of-sale, eliminating costly errors and embarrassing customer issues. It is now available through 12 dealer service providers covering nearly all Chrysler, Jeep and Dodge dealerships.

"Our 2008 goal is to AutOriginate more than 90 percent of all contract volume and process 25 percent of that volume through e-contracting," said Kelly Mankin, vice president of marketing for Chrysler Financial.

The company also offers e-contracting throughout the United States. Paperless technology for Chrysler Financial retail and lease transactions are available to Chrysler, Jeep and Dodge dealerships in all 50 states through CF Connect. Dealers simply need to contact their dealer relations manager to request a start up kit and initial in-dealership training.

"With the national roll out of this technology, F&I Managers now have another industry-first, the ability to provide customer's their account number and first payment coupon at the point-of-sale," said Mankin.

Chrysler Financial is the first U.S. automotive lender to receive electronic deal packages from several dealers using CF Connect eContracting and ADP's Digital Contracting solutions. Chrysler Financial enables eSigning of the retail installment contract or lease agreement while ADP facilitates electronic signatures for nearly all the remaining forms to create a complete, signed electronic deal.

"Thinking of customer satisfaction and the elimination of unnecessary paper processing, we developed two ways to quickly obtain the eContract package via 'eFax' or ADP's Digital contract solution," said Mankin. "Reducing the time it takes to book an eContract increases dealer satisfaction, cash flow and most important, eliminates post delivery customer re-contracting."

The supporting forms for eContract can now be faxed eliminating dealer shipping costs and further decreasing days to contract booking.

"eFax and forms technology provides considerable long term dealer benefits, so it's important to develop and offer as many alternatives as possible," Mankin said. "With RouteOne we have plans to expand our current eContract, eFax/forms pilot to additional states."

Additionally, this technology will be applied to the Chrysler Financial enterprise including Chrysler Financial Canada and the extended Americas region in the future.

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