DealerTrack Platform Garners 100 Financing Sources
MELVILLE, N.Y. -- DealerTrack Inc. announced that it has reached 100 financing sources on its DealerTrack platform. The company expects to exceed 120 by the end of 2004.
MELVILLE, N.Y. -- DealerTrack Inc. announced that it has reached 100 financing sources on its DealerTrack platform. The company expects to exceed 120 by the end of 2004.
"Our platform is currently handling an average of more than 85 percent of the credit applications received by participating financing sources. Overall, we process nearly three million applications each month, which we estimate accounts for at least 35 percent of all U.S. automotive credit applications," said Mark O´Neil, DealerTrack´s president and chief executive officer.
In 2003, DealerTrack paved the way for electronic contracting in the automotive sector. The number of financing sources using the eContracting product is expected to reach about 18 by the end of the year.
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