DealerTrack network connects 475 active financing sources

31 Jan '08

2 min read

DealerTrack Holdings Inc, a leading provider of on-demand software and data solutions for the U.S. automotive retail industry announced that the number of active financing sources connected to the DealerTrack network has reached 475.

"The power of the DealerTrack network continues to grow as we connect additional financing sources, dealers and other providers," said Mark O'Neil, chairman and chief executive officer of DealerTrack.

"The number of financing sources on our network increased 52 percent in 2007. We believe this continued rapid growth reflects the increasing awareness among lenders that joining the DealerTrack network can give them a competitive advantage in building their automotive business."

Approximately 90 percent of all franchised automotive dealers in the United States are active users of DealerTrack's network. Through DealerTrack, dealers can electronically submit credit applications to the industry's largest and most diverse network of banks, finance companies, captive finance companies, credit unions and regional banks.

In addition, DealerTrack offers subscription products to dealers that integrate with the credit application process and provide an end-to-end sales and finance solution.

Products and services in the DealerTrack network improve sales performance, assist with inventory management, and help to increase sales and finance profits. DealerTrack's solutions enhance compliance while integrating leads, desking, electronic contracting and menu-selling.

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