LAKE SUCCESS, N.Y. — DealerTrack Inc. announced Monday that the number of
active financing sources connected to the DealerTrack network has reached
750.
"Our achievement of this historic milestone for the
DealerTrack network underscores our commitment to helping dealers succeed in
this credit-challenged market," said Mark O'Neil, chairman and chief
executive officer of DealerTrack. "We believe the large and growing number
of lenders on our network continues to provide a critical competitive advantage
for our dealer customers by making more finance sources available to help them
close sales."
Approximately 90 percent of all franchised automotive
dealers in the U.S.are active users of DealerTrack's network. Through DealerTrack, dealers can
electronically submit credit applications to the industry's network of banks,
independent finance companies, captive finance companies, credit unions and
regional banks.
In addition to its credit network, DealerTrack is a provider
of both on-demand dealer management systems (DMS) and inventory management
solutions in the U.S. DealerTrack subscription and other transaction-based
products integrate with the credit application process and provide an
end-to-end dealership technology solution.
