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DealerTrack Launches FinanceDriver to Help Enable and Enhance the Online Financing Process for Automotive Retailers
May 31, 2012 (04:05 PM EDT)


New Financing Solution Delivers Digital Retailing Workflow for Today's Progressive Automotive Dealers, Portals and OEMs

LAKE SUCCESS, N.Y., May 31, 2012 /PRNewswire/ -- To help automotive retailers generate more quality finance leads and streamline online vehicle purchasing, DealerTrack today introduced FinanceDriver, a robust web-based financing service for dealer and third-party retailer websites.

(Logo:  http://photos.prnewswire.com/prnh/20101028/DEALERTRACKLOGO )

FinanceDriver, which was previewed at this year's NADA event, allows automotive retailers to provide advanced financing services to consumers online, and improve qualified lead generation for retailers. This new web service platform features:

  • Seamless integration with online vehicle research and inventory workflows, as well as mobile applications;
  • Ability to receive pre-qualified leads and full credit applications directly into DealerTrack and CRM systems;
  • Option for the retailer to automatically submit credit applications to their lenders; and
  • Retailer notifications of new leads and lender decisions, among other features.

"Internet driven vehicle research and inventory search is the new normal, and therefore, the quality of an incoming online lead is critical to increasing conversion rates and delivering profits," said Amit Maheshwari, general manager, DealerTrack Digital Retailing Solutions. "Utilizing FinanceDriver, along with our SmartFind and PaymentDriver solutions, retailers and their marketing channels can now build meaningful workflows that move online consumers further down the sales funnel."

FinanceDriver is now available as a web service, and a website plug-in will be released in the third quarter 2012. FinanceDriver and the rest of DealerTrack's Digital Retailing solutions, including PaymentDriver and SmartFind, are available through DealerTrack as well as Chrome Data Solutions, a joint venture between DealerTrack and AutoData.

About DealerTrack (www.dealertrack.com)

DealerTrack's intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the retail automotive industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. DealerTrack, whose solution set for dealers is the industry's most comprehensive, operates the largest online credit application network in the United States, connecting over 17,000 dealers with more than 1,100 lenders.  DealerTrack's Dealer Management System (DMS) provides dealers with easy-to-use tools and real-time data access to enhance their efficiency. DealerTrack's Inventory offerings provide vehicle inventory management and merchandising solutions to help dealers drive higher in-store and online traffic with state-of-the-art, real-time listings, accelerate used-vehicle turn rates, and increase dealer profits. DealerTrack's Sales and F&I solutions allow dealers to streamline the entire sales process as they structure deals from a single integrated platform.  Its Compliance offering helps dealers meet legal and regulatory requirements, and protect their assets.  DealerTrack also offers additional solutions for the automotive industry, including electronic motor vehicle registration and titling applications, paper title storage, and digital document services. For more information visit: www.dealertrack.com

Safe Harbor for Forward-Looking and Cautionary Statements

Statements in this press release regarding the benefits of the DealerTrack FinanceDriver product and other Digital Retailing solutions, 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 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 adoption by dealers of the DealerTrack FinanceDriver product, the performance of the FinanceDriver product, 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, 2011. These filings can be found on DealerTrack's 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 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.

TRAK-G

SOURCE DealerTrack