If the future of the F&I office includes electronic contracting, that future is, well, happening right about now thanks in part to a new partnership between Dealertrack and CRIF Lending Solutions.
According to the J.D. Power 2015 U.S. Dealer Financing Satisfaction Study, overall dealer satisfaction scored 913 (out of 1,000) when using eContracting, compared to 856 when working with lenders who did not use that type of technology. The reason? Dealers are searching for higher levels of service centered around speed, convenience and efficiency.
Electronic contract funding is a perfect example of how technology is introducing new ways to be more efficient and accurate. Long the domain of the traditional sales and lending approach, today there’s strong evidence that the shift to eContracting is accelerating, as dealers and lenders discover its effectiveness.