Three Myths about Online Subprime Auto Financing

by Dealertrack on March 2, 2017

Could it be that 2016 is the end of the auto industry’s ride to the pinnacle of car sales? Perhaps it is - for now.Since January’s NADA Convention, words like “plateau,” and “slow” have been common phrases used to describe the current state of sales volumes. Even Steven Szakaly, chief economist of the National Automobile Dea...

Read more

2017 Compliance Guide Case Study: Credit Apps, Reports, and Contracts

by Dealertrack on February 24, 2017

A dealer sold a vehicle to a consumer under a RISC (Retail Installment Sales Contract) and allegedly committed numerous violations in connection with the sale and financing.For example, the plaintiff was not given a review copy of the RISC disclosing the finance charge prior to the time of sale; and she didn’t take delivery because th...

Read more

Three Questions to Ask About Accelerated Title

by Dealertrack on January 18, 2017

When it comes to car sales and financing, the relentless search for efficiency touches all areas of a dealership.Smart dealer operators are finding steps and tasks that can be connected, automated and perfected; they’re reviewing workflow and expecting time and cost savings. For example, ask yourself this question: When a customer bri...

Read more

Three Questions to Ask About Menu Selling Technology

by Dealertrack on January 5, 2017

In large and small ways, technology has changed virtually every aspect of the automotive retail experience. Few areas, however, have seen as much of a transformation as menu selling.Sitting down with customers to go over product options for their newly purchased vehicle has gone from a piece of paper in the F&I manager’s office to...

Read more

Three Questions to Ask About eContracting Technology

by Dealertrack on January 3, 2017

Few technology solutions solve a pressing retail issue as efficiently and precisely as electronic contracting.Indeed, virtually every aspect of the contract process is improved through this technology, starting with an improved consumer experience, and ending with a streamlined workflow between dealership and lender. eContracting is a s...

Read more

Three Questions to Ask About F&I Compliance Technology

by Dealertrack on December 29, 2016

The power of automotive retail technology is, in part, about connecting steps in the buyer’s journey to make the process more efficient.But it also handles other, crucial aspects, such as ensuring compliance with government regulations and providing protection against ID fraud. That’s important, and as such it’s vital to make sure...

Read more

Key Dealertrack Technology Solutions

by Dealertrack on December 23, 2016

Let’s face it: the business of automotive retail is changing.Today, car buyers spend more time shopping online and less time going to dealerships; when they do walk into a showroom, it's likely that they know what they want, right down to the amount of time they're willing to spend on the deal. That's where good technology helps,...

Read more

Menu Selling Tips and Advice

by Dealertrack on December 16, 2016

When sales and showroom traffic cool, dealers usually turn up the temperature on F&I revenue – especially dealer reserve.But that’s changing, thanks to the current regulatory environment, as well as customer expectations around financing. Today, the heat is still on the F&I department, but this time it’s all about flat-rat...

Read more

Fast and Efficient Contracting is Changing the Way Deals are Done

by Dealertrack on November 21, 2016

Good technology simplifies. It creates efficiencies in process, and expands the possibilities of increased profitability -- in the short term and long term. As critical aspects of the automotive retail workflow evolve with technology, dealerships and the lenders they do business with are beginning to see these improvements come to life, especial...

Read more

CUES: Technology Drives Faster Loan Approval

by Dealertrack on September 28, 2016

It can’t be overstated: Speed is vital when it comes to the services indirect lenders provide dealers. From loan approvals to the funding of signed contracts and the management of documentation, dealers expect fast service that meets the ever-growing expectations of their customers. Dealership managers are increasingly under pressure to save t...

Read more