If the future of the F&I office includes electronic contracting, that future is, well, happening right about now. Indeed, dealerships and lenders are signing on to this electronic (and expeditious) approach to contracting at a faster rate than ever before; many analysts even expect eContracting to make up over 50 percent of total contract volume by the end of this year.
Accelerating that trend is the recent partnership between Dealertrack and CRIF Lending Solutions. The agreement expands the use of a technology that eliminates manual contracting, reduces re-contracting and speeds the process – something that’s increasingly on the minds of consumers. The partnership creates a vital connection between Dealertrack’s software – with mobile review and signing – and CRIF ACTion, one of the industry’s most powerful and versatile loan origination platforms. The result will help lenders increase indirect lending portfolio growth, and will expand lender eContracting availability for dealers.