LAKE SUCCESS, N.Y. — DealerTrack announced that the number of active financing sources connected to its network is now 450.
"We are pleased to arrive at this milestone, which reflects a remarkable 48-percent year-to-date increase for the year to date in the number of financing sources on our network," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "Our growth rate has accelerated this year as word has spread through the lender community about the efficiency and convenience of the DealerTrack network. More and more financing sources perceive joining our network as a competitive advantage that they can leverage to grow their automotive business."
In addition to the 450 financing sources on the DealerTrack network, approximately 90 percent of all franchised automotive dealers in the United States are active users.
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.