Kia Motors America on DealerTrack Platform
DealerTrack, Inc. has announced that Kia Motors America (KMA) is participating on its DealerTrack auto financing
platform as a part of Kia's recently announced alliances with Chase Manhattan Bank USA, N.A., and AmeriCredit Financial Services, Inc. Kia joins a
community of 30 lenders and more than 20,000 automotive dealerships currently on board with the DealerTrack platform.
In December 2002, Kia announced separate agreements for Chase Manhattan Bank USA, N.A. to serve as its prime retail financial service provider, and
for AmeriCredit to serve as its non-prime provider. Given the participation of Chase and AmeriCredit on the DealerTrack platform, all Kia dealers are now
able to use DealerTrack to submit credit applications directly to both lenders, as well as monitor the status of those applications and related contracts in
real-time. DealerTrack also allows Kia dealers to access low-cost credit reports, connect with additional lenders available through its platform, and as a
result of a recently announced merger with Credit Online, have the ability to integrate with larger dealer management systems.
DealerTrack says it reduces the time spent manually processing and submitting credit applications, while decreasing the potential for input errors. The company says the platform
fuels a more profitable and efficient experience for dealers, while offering lenders like Chase and AmeriCredit higher automatic decision rates and faster
turn-around time. Use of the DealerTrack platform continues to grow, now processing more than 1.5 million applications per month, says the company.
"A key element to the continued growth and success of Kia in the North American automotive market is our ability to provide competitive financing options
to our retail dealer customers," said Peter M. Butterfield, KMA's president and chief executive officer. "The efficiencies and resources available through
the DealerTrack platform will help us maximize the benefits of our financing alliances with Chase and AmeriCredit."
"We're very pleased that the DealerTrack platform can play a key role in supporting the financing process for Kia dealerships," said Mark O'Neil,
president and chief executive officer of DealerTrack, Inc. "We hope that Kia will find that DealerTrack offers a significant value-add to its alliances with
Chase and AmeriCredit."
About Kia Motors America
Kia Motors America is the U.S. sales, marketing and service arm of Kia Motors Corp. in Seoul, South Korea. Kia Motors
America currently markets the Rio sub-compact sedan, Rio Cinco five-door wagon, Spectra compact sedan and hatchback, Optima midsize sedan, Sorento
midsize SUV, Sedona minivan and later in this year, the Amanti full-size sedan.
About DealerTrack
With over 20,000 dealers and 30 lenders currently connected, DealerTrack says it is North America's premier independent Web-based platform that automates
and accelerates the entire dealer-to-lender relationship, from financing to daily information sharing. The DealerTrack platform features integration with
dealer management systems and enables application processing, credit bureau access, electronic contracting and lease comparisons - all in one
integrated solution. More information on DealerTrack is available at www.dealertrack.com or by calling 877-357-8725.
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