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DealerTrack Making Effort to Gain More CU Indirect Auto Loans; Touts Dealer Presence, e-Contracts as Advantages

DealerTrack, the auto lending financing source for 22,000 car dealerships wants more credit unions to know that it's the "go-to" provider to those that want to increase their indirect loan portfolio. Mark Brown, vice president of lenders solutions at DealerTrack told Credit Union Times they have the "broadest dealer network,...

By Staff Writer | Updated on June 12, 2007

LAKE SUCCESS, N.Y. — DealerTrack, the auto lending financing source for 22,000 car dealerships wants more credit unions to know that it’s the “go-to” provider to those that want to increase their indirect loan portfolio. Mark Brown, vice president of lenders solutions at DealerTrack told Credit Union Times they have the “broadest dealer network, and that’s the most important aspect of providing service to members.”

Brown said that DealerTrack Holdings, Inc., https://www.dealertrack.com (Nasdaq: TRAK), is the leading provider of on-demand software and data solutions for the U.S. automotive retail industry. Dealers receive consumer leads, submit credit applications and receive responses, compare financing and leasing options, sell insurance and other aftermarket products, document compliance, and execute financing contracts electronically. They say they do business with 90% of all franchised dealers and can connect with over 350 financing sources, half of which are credit unions.

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