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.
The value of digital contract processing is easy to understand when you consider the extensive handling and manual data entry that lenders must undertake to process paper contracts. It can take days or even weeks from the time these contract packages ship out from the dealership before they make their way through lender review and approval for funding.
Dealertrack Digital Document Services provides a great solution to bridge the gap between paper and digital for lenders and speed funding. Take a look:
Savvy lenders understand that faster funding is the name of the game for supporting their dealer customers’ need for cash flow to help them stay profitable.
Utilizing Dealertrack as a technology partner helps lenders avoid the time-consuming tasks involved with data entry, validation and storage of paper contracts. Lenders gain efficiency to fund faster and keep dealers coming back for more.
To learn more, download The Lender Guide to Faster Paper Contract Processing.