Andrea Forteleoni, finance director at Bill Seidle Nissan in Miami, can tick off several reasons why he likes paperless sales contracts.
But he cuts quickly to the bottom line: He gets paid by the bank in a few hours, and often the same day, if the deal is done through e-contracting rather than paper forms.
Nissan Motor Acceptance Corp. finances the sale or lease of about half the 300 new and used vehicles the dealership sells monthly, Forteleoni says. And Nissan Motor Acceptance handles every lease via e-contracting.
"Honestly, a lot of times we get our money before it's even due," Forteleoni says. "I can't comprehend why dealers aren't 100 percent onboard with e-contracting."
The industry, though, has been slow to get off paper.