Seventy percent of vehicles registered in the United States are subject to some type of electronic lien. That’s a surprising number, and one that many experts think will grow steadily..
J.D. Power: Dealers are willing to pay more for better service and greater efficiency from lenders
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.
eContracting on the rise: Dealers and lenders shift to a faster, more convenient approach
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.
Dealertrack’s Raj Sundaram examines the subprime lending market
With the automotive retail world talking about the subprime market, who better than Dealertrack to weigh in with some experience, facts and data? Our Co-President Raj Sundaram recently examined the state of subprime lending in a commentary published by Auto News.
