Dealertrack in the news: F&I, automotive lending and eSignatures

The media coverage of Dealertrack is heating up along with the summer weather. This month, several trade media publications, including Automotive News, SubPrime Auto Finance News, Used Car Dealer Magazine and P&A Magazine, feature Dealertrack.

Topics range from F&I to automotive lending and the concept of eSignatures/eContracting. In these stories, the publications put the spotlight on several Dealertrack thought-leaders and industry experts, such as Co-President Raj Sundaram; Michael Collins, senior vice president, F&I Solutions; Jason Barrie, senior director, Market Performance, F&I; and Ronda Lewis, national sales director. Here are the story highlights in June:

Automotive News:  The Advantages for Going Online with F&I

Dealertrack Co-President Raj Sundaram discusses how presenting F&I options online makes it easier to engage customers and increase sales. In the story, Raj is quoted as saying that offering financing applications online by dealerships can result in, on average, 30 percent lead-to-sales conversions.

Experts: Raj Sundaram, Jason Barrie

Automotive News:  Why Longer Loan Terms are Not a Big Concern

Loan terms may be getting longer in the automotive lending market, but according to Dealertrack F&I Expert Michael Collins, there is no concern that the trend toward longer loans will put the market in danger. Based on Dealertrack’s experience in the market, terms are just one of the variables that dealers and lenders use to fuel financing transactions. Customer collateral, the value of the loan and credit quality of the applicant all need to factor into the equation before drawing any financing conclusions.

Expert: Michael Collins

SubPrime Auto Finance News: The Illusion of a Subprime Bubble

In a bylined article for this publication, Dealertrack Co-President Raj Sundaram writes about why Dealertrack does not see any subprime lending bubble in automotive retail.

Expert: Raj Sundaram

Used Car Dealer Magazine: The Long and Winding Loan

Dealertrack’s Michael Collins comments on the dealer/lender relationship and how a dealer can be a partner that lenders want to do business with in the June issue of the National Independent Automobile Dealers Association (NIADA) publication.

 Expert: Michael Collins

P&A Magazine: Paperless – What It Takes and How to Get There

In this publication for F&I program managers and administrators, Dealertrack’s Ronda Lewis comments on the challenges and advantages of eSignatures and eContracting. According to Ronda, the key to the future success of eSignatures and eContracting will be in the ability of F&I and technology providers as well as dealers to work together to obtain corporate buy-in and create the process for implementing the capability. All agree that the technology is already there to make this happen.

Expert: Ronda Lewis