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Solutions to Mitigate Common Auto Loan Portfolio Risks

by Dealertrack on July 28, 2020

As of the first quarter of 2020, there were 116.46 million car loans in the U.S. In any market conditions, lenders require the right data and insights to effectively manage their loan portfolios. With the current turbulent circumstances affec...

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Why Now is the Time for Auto Lenders to Go Digital

by Dealertrack on June 18, 2020

Over the past several years, the paperwork and manual processes for handling auto loans have been gradually giving way to technology-based processes. But this year has changed everything. In the wake of the COVID-19 pandemic, digital solutions have quickly moved from “nice to have” to “vital” for both dealers and lenders. Consumers have...

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3 Reasons Lenders Shouldn’t Wait to Start eContracting

by Dealertrack on January 30, 2020

Still wondering if you should be using eContracting for your auto loan originations? Let’s examine some of the reasons lending institutions should already be using eContracting or digital contracting. 1. eContracting is the new standard It’s no longer a matter of if you should be using eContracting: the industry has alrea...

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The Recipe for Funding Auto Dealers Faster

by Dealertrack on September 17, 2019

The old saying is that too many cooks spoil the broth. But when it comes to finding ways for lenders to handle large volumes of paper contracts until the auto industry fully transitions to electronic contracting, some extra help in the “kitchen” can make all the difference. Taking the measure of the industry Today, the au...

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Stay Nimble and Accurate When Funding Loans

by Dealertrack on August 22, 2019

Auto lending is a valuable service for dealerships, with 85% of new cars purchased in 2018 financed rather than purchased outright. Dealers require fast funding to stay cash flow positive, so it’...

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Expedite Contract Processing Regardless of Workload

by Dealertrack on August 13, 2019

eContracting has made it so indirect auto lenders can process contracts and fund their dealers faster. Unfortunately, many dealers haven’t given up the paper contracting habit yet, so lenders must find ways to beef up their contract processing on two fronts. It can be a challenge for lenders to deliver faster funding for paper contract package...

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How Lenders Can Get the Lion’s Share of their Dealers’ Loans

by Dealertrack on July 9, 2019

What’s the number one way for a lender to add value for their dealer partners? Faster funding. In today’s automotive marketplace where profit margins are crunched and sales have plateaued, auto dealers are looking for ways to free up cash flow and preserve their bottom line. Naturally, they prefer to work with lender partners who can be part...

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Industry News Roundup: 6/28/19

by Dealertrack on June 28, 2019

This weekly Dealertrack blog feature is designed to keep you up to date on industry news and trends that affect our customers. Disruption is speed bump for auto sales – Credit Union National Association...

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Faster Paper Contract Processing for Lenders

by Dealertrack on June 18, 2019

The car buying process is getting more digitally connected with each passing year, yet most dealerships are still finalizing purchase contracts on paper. During this time when contract processing is a hybrid of traditional and paperless, it’s still possible for lenders to take some steps that will help them prepare for fully digital contracting....

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Paper Contracts Shouldn’t Prevent You from Fast Funding

by Dealertrack on May 21, 2019

By Todd Hutto, Associate Vice President of Operations, Dealertrack Digital Document Services Even as more of the car buying process moves online and the desire for a digitally connected online-to-in-store experience grows stronger, many dealerships continue to contract on paper. These contracts and their entire funding packages require...

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Dealertrack and the Evolution of Digital Retailing

by Dealertrack on April 16, 2019

Earlier this month, Cheryl Miller, Senior Vice President and General Manager of Dealertrack F&I and Titling Solutions, participated in a keynote panel at the Consumer Banking Association’s CBA Live 2019 conference. The topic was Digital Retailing Evolution: What’s NOW & What’s Next, and Cheryl shared her expertise on...

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