Automobile dealers nationwide can now submit lease and loan applications electronically – and obtain extremely fast responses – to Arcadia Financial Ltd. via the DealerTrack(SM) online auto finance system.

Arcadia has joined the growing list of lenders participating in DealerTrack, which automates the entire automobile dealer-lender process from financing to daily information sharing. Arcadia is a leading source for nonprime automotive financing.

Lender participants already in DealerTrack are Chase Manhattan Bank, AmeriCredit, Subaru Motors Finance and Wells Fargo. Dealers can submit applications to and receive extremely fast responses from these institutions electronically and at no cost, according to Mark O'Neil, president and CEO of DealerTrack.

“More than 7,500 dealerships nationwide already utilize DealerTrack to manage their auto loan and lease portfolios,” O’Neil said. “DealerTrack is free of charge to auto dealers. That, combined with our extremely fast turnaround time and great service, is helping auto dealers to embrace the concept of conducting business electronically. Lenders are quickly coming on board as they recognize that DealerTrack can both help them reduce costs and increase their volume of booked loans. Arcadia is a leader in its target markets and will help DealerTrack to continue to build momentum across the marketplace.”

DealerTrack allows auto dealers to submit a consumer’s credit application online to multiple financing institutions. Dealers can also access real-time application and contract status information from each lender participating on the DealerTrack platform, regardless of whether their application was sent electronically or by fax.

For more information about DealerTrack, auto dealers may contact Rick Pinto, national sales manager, at (631) 486-1655, or e-mail rick.pinto@dealertrack.com; lenders may contact Rich McLeer, national lender relationship manager, at(631) 486-1649, or e-mail richard.mcleer@dealertrack.com.

About Arcadia

Arcadia Financial Ltd. specializes in near-prime and nonprime customer financing.

Arcadia provides auto financing for franchised and independent auto dealers in 46 states and services approximately $4.75 billion with more than 450,000 customers.

About DealerTrack

DealerTrack (www.dealertrack.com) is an independent Web-based auto finance enabler for automotive dealers.

The company provides an impartial end-to-end loan and lease transaction channel designed to improve efficiencies and profitability for lender and dealer users by automating credit processes, speeding lending communications and improving transaction efficiency through the use of the Internet.

More than 7,500 dealerships nationwide, both individual stores and large dealer groups, currently use the DealerTrack system.

Formed by a lender consortium, DealerTrack is owned by J.P. Morgan Chase & Co., AmeriCredit Corp. and Wells Fargo & Co.