Lake Success, N.Y.— DealerTrack Holdings Inc. has announced that the number of active financing sources connected to the DealerTrack network has reached 300, a 49 percent increase since the end of 2005.
"We are excited to arrive at this milestone," said Mark O'Neil,
chairman and chief executive officer of DealerTrack. "The power of the DealerTrack network continues to grow as we connect more financing sources, dealers and other providers."
Approximately 89 percent of all franchised automotive dealers in the United States are active in the DealerTrack network. Through DealerTrack, dealers can electronically submit credit applications to the industry's largest and most diverse network of banks, finance companies, captive finance companies, credit unions and regional banks. In addition, DealerTrack offers subscription products to dealers that integrate with the
credit application process and provide an end-to-end sales and finance solution. Products and services in the DealerTrack network improve sales performance, assist with inventory management, and help to increase sales and finance profits. DealerTrack's solutions enhance compliance while
integrating leads, desking, e-contracting and menu-selling.
O'Neil concluded, "We will continue to connect financing sources to the DealerTrack network to facilitate Web-based financing and e-contracting opportunities for our more than 22,000 dealer customers. Additionally, we are pleased to announce that we now have 21 lenders participating in our e-contracting solutions.
Providing dealers with the largest and most diverse
financing network helps dealers to best meet their customers' needs and to sell more vehicles, while enhancing origination potential for the financing sources."