VW, Audi dealers get tools to speed financing

The captive financing arms of Volkswagen and Audi are using new online tools to enable their dealers to submit financing deal terms electronically and receive instant validation of the contracts.

The rollout by VW Credit Inc. and Audi Financial Services follows a successful pilot of the digital contracting system last autumn, said Steve Anenen, group president of ADP Dealer Services, the dealer software vendor providing the in-store tools.

The electronic tools will reduce the possibility of contract errors and speed customer financing approval, Anenen said at a press conference last week during the National Automobile Dealers Association convention in Orlando.

ADP is VW Credit's exclusive provider of the in-store tools.