NASHVILLE, Tenn. — Nissan Motor Acceptance Corporation (NMAC)'s efforts in eLeasing were recognized at this year's Auto Finance Summit Awards in Las Vegas.
"Perseverance is the key word when considering Nissan Motor Acceptance Corporation's eLeasing initiative," said J.J. Hornblass, chairman, Auto Finance Summit. "NMAC has been more than just at the forefront of the industry's technology. It has been an evangelist for moving forward, for trying to reinvent the status quo."
NMAC was nominated by industry leaders and then chosen by the Board of Advisors of the Auto Finance Summit and the editors of Auto Finance News, a publication focusing on automotive lending and leasing opportunities.
eLeasing provides customers with an easier and faster process for filling out contracts. It also eliminates many of the errors that occur when filling out contracts the traditional way with pen and paper. For dealers, eLeasing improves cash flow, lowers compliance issues, reduces contracts in transit and improves customer service.
"Even though eLeasing has been a big challenge from the start, its value to NMAC and to our dealers has been evident from the very beginning," said Jeff Edwards, vice president, Operations, NMAC. "We are proud to be paving the way with this new technology and to be recognized by the finance industry."
NMAC started eLeasing in July of this year and is currently in five states. It plans on expanding the program to another seven states by the end of the year. In addition to eLeasing, NMAC has been processing retail contracts electronically since the summer of 2004. Approximately 50 percent of the Nissan and Infiniti dealerships in the U.S. utilize the service.
In North America, Nissan's operations include automotive styling, design, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing.