LAKE SUCCESS, N.Y. — DealerTrack Holdings Inc. has implemented a software program that connects car dealers with credit unions across the country.
The interface links dealers with credit unions that are served by Aimbridge Lending Solutions, a provider of lending technology and premium services to credit unions across the country.
Dealerships can use DealerTrack to make an automated request to Aimbridge's lending system to determine whether the applicant is preapproved at any credit union or if they are already a credit union member. Dealers can then select an appropriate credit union and submit the loan application to Aimbridge. The application is then processed through Aimbridge's integrated lending workflow system on behalf of the lending credit union.
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"Automotive loans have always been an integral source of revenue for the credit union industry, and Aimbridge is committed to helping credit unions maximize their business in their auto sector," said Stephen Bentley, founder of Aimbridge. "Our strategic partnership with DealerTrack will help our credit union clients increase their loan opportunities while maintaining a high capture ratio–it is a win-win situation."
Aimbridge Lending Solutions has partnered with credit unions and automotive dealers since 1984 and hosts a single platform through which direct, indirect and Web-based lending solutions are used to increase automotive lending.
"We are pleased to welcome Aimbridge to the DealerTrack network," said David Trinder, senior vice president of network solutions. "It is important to us that we enable dealers to deliver all possible financing options to their customers. The addition of Aimbridge and their technology greatly adds to the options dealers can offer."
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