LAKE SUCCESS, N.Y – DealerTrack Holdings, Inc. has announced that the number of active financing sources connected with the DealerTrack online automotive platform has reached 200.
“We are excited to arrive at this milestone,” said Mark O'Neil, chairman and chief executive officer of DealerTrack. “It took about four years to connect our first 100 financing sources, but less than a year to connect the second hundred. Providing dealers with the largest network of automotive lenders helps dealers sell more cars and provides greater origination potential for these finance sources.”
Through DealerTrack, automotive dealers can electronically submit credit application data to a diverse network of financing sources, including eight captives, credit unions, and the 20 largest independents. Dealers can monitor application status in real time, and have access to a broad array of reporting tools, as well as the ability to directly integrate data generated in DealerTrack with top dealer management systems.
The DealerTrack integrated end-to-end sales and finance solution facilitates more than 4 million transactions per month for its dealer and financing source customers, and increases efficiency and revenue opportunities for these financing sources.