Dealertrack Credit Application Network Achieves Milestone of 1,300 Lender Connections Industry's Largest Credit Network is the Heart of Dealertrack's Sales and F&I Solutions Workflow for Dealers and Lenders
Lake Success, N.Y., May 2, 2013 ─ Dealertrack Technologies (Nasdaq: TRAK) today announced that the number of active lenders connected to its Dealertrack Credit Application Network now exceeds 1,300 lenders.
The Dealertrack Credit Application Network, which has grown from five lenders in 2001 to more than 1,300 lenders today, allows dealers to electronically submit application data to the industry’s most diverse network of banks, independent finance companies, captives and credit unions.
“”The Credit Application Network has been the heart of Dealertrack since the company’s inception in 2001, and remains the automotive retail market’s largest finance network for indirect automotive lenders,” said Michael Collins, vice president, Lender Finance Solutions, Dealertrack. “The network is a core and strategic part of Dealertrack’s overall Dealflow Advantage, designed to create greater efficiencies in financing and selling vehicles for dealers.”
Dealertrack Dealflow Advantage: Driving Profits and Value for Dealers
The Dealertrack Dealflow Advantage underscores Dealertrack’s commitment to workflow efficiencies that help drive profits and value through every step of a customer interaction and transaction for dealerships. Dealers can leverage the Dealflow Advantage through a number of Sales and F&I tools and solutions, including digital retailing, credit application processing, F&I product aftermarket selling, electronic contracting, compliance and registration and titling, to create a seamless and efficient customer experience and workflow for one’s dealership.
In addition, the Dealertrack Dealflow Advantage delivers innovation and advanced Sales and F&I functionality. Dealertrack Mobile enables dealers and lenders to securely manage and monitor finance and consumer credit application activities in real-time from their mobile device. Since its introduction last year, more than 23,000 users at more than 13,000 dealerships and lenders in North America are leveraging the power of the Dealertrack Mobile application.
About Dealertrack Technologies (www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. In addition to the industry’s largest online credit application network, connecting more than 19,000 dealers with more than 1,300 lenders, Dealertrack Technologies delivers the industry’s most comprehensive solution set for automotive retailers, including Dealer Management System (DMS), Inventory, Sales and F&I, Interactive and Registration and Titling solutions.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of the Dealertrack Dealflow Advantage and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Dealertrack Technologies to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the performance and dealer and lender acceptance of the Dealertrack Credit Application Network and Dealertrack solutions, and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ending December 31, 2012. These filings can be found on Dealertrack Technologies’ website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and Dealertrack Technologies disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.
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