The Dealertrack Credit Application Network has grown from five lenders in 2001 to more than 1,400 lenders today, allowing dealers to electronically submit application data to a diverse network of banks, independent finance companies, captives and credit unions.
Two brothers who owned and operated several California dealerships were sentenced to more than four years in prison and ordered to pay more than $600,000 in restitution for conspiring to commit bank fraud.
The tools are generating 500 additional leads daily and 40 percent of customers who use the tools purchase a vehicle within 30 days, according to the company.
More than 77 percent of car lease customers were approved during April, up from 70 percent during the previous month, according to Swapalease.com.
Tired of getting incomplete credit applications from sales? The F&I Professor, John Vecchioni, offers a great fix in F&I’s Tip of the Week.
Volvo’s finance arm is the latest captive to join the software company’s credit application network. The carmaker’s dealers will also gain access to other technology solutions offered by Dealertrack.
DealerTrack announced the release of DealerTrack Mobile, a mobile application that enables dealers to manage and monitor finance and consumer credit application activities in real-time from their Apple iPhone or iPad.
DealerTrack’s new feature is designed to allow users of its credit application network to generate Adverse Action Notices and new credit disclosures mandated by recently passed laws.
The new partnership will allow auto dealers in all markets served by Nationwide to process credit applications electronically through the AppOne platform.
DealerTrack Canada, a subsidiary of DealerTrack Holdings Inc., has formed an agreement to offer TransUnion credit report solutions through DealerTrack Canada’s Credit Application Network, giving Canadian dealers greater access to industry credit management resources.
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