"GMAC has taken a series of steps to support the auto industry during the past year, particularly in extending credit to the market," said Tim Russi, executive vice president for GMAC's North American Operations. "Our presence on DealerTrack will allow us to bring the nearly 90 years of experience we have in auto finance to a broad and diverse group of dealers seeking vehicle financing for their customers."
GMAC will also continue to accept applications via RouteOne. The lender will spend the next several months reaching out to the more than 17,000 dealers on the DealerTrack network. Dealers who already work with GMAC will benefit from the addition of another application channel, according to the company.
"Our strategy has always been to attract new financing sources, expand our subscribing dealer base and add value to our software applications," said Mark O'Neil, DealerTrack's chairman and CEO. "This will help us achieve all three objectives."
Cox Automotive’s latest Dealer Sentiment Index finds a ‘notable negative turn’ among U.S. dealers, the majority of whom took a dim view of the fourth-quarter market and their 2019 prospects.