LAKE SUCCESS, N.Y.,
Nov. 11, 2011 /PRNewswire/ -- Today,
DealerTrack (Nasdaq: TRAK) announced that the number of active
lenders connected to its DealerTrack credit application network has
surpassed 1,111 U.S. lenders.
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The DealerTrack credit application network allows dealers to
electronically submit credit application data to the industry's
most diverse network of banks, independent finance companies,
captives, and credit unions. The DealerTrack credit application
network, which has grown from five lenders in 2001 to more than
1,111 lenders today, continues to expand and remains the automotive
retail market's largest finance network.
"With the overall improvement in the automotive retail industry,
the DealerTrack credit application network continues to be the
biggest credit network for dealers and lenders," said Mark O'Neil,
chairman and chief executive officer, DealerTrack. "The number of
lenders that continue to join our credit application network is a
bright spot for the automotive retail industry and the economy in
general."
As part of this milestone achievement, DealerTrack will be
running a promotion for all dealers in the United States, in which dealers can win
$1,111. For the promotion,
DealerTrack will be asking dealers to refer lenders who aren't
already electronically connected to the DealerTrack network.
If the referred lender electronically connects to the
DealerTrack network before December 31,
2011, the dealer has a chance to win $1,111 cash prizes. Promotion details and rules
can be obtained at www.dealertrack.com/1111.
About DealerTrack (www.dealertrack.com)
DealerTrack's intuitive and high-value software solutions and
services enhance efficiency and profitability for all major
segments of the retail automotive industry, including dealers,
lenders, OEMs, agents and aftermarket providers. DealerTrack,
whose solution set for dealers is the industry's most
comprehensive, operates the largest online credit application
network in the United States,
connecting over 17,000 dealers with more than 1,100 lenders.
DealerTrack's Dealer Management System (DMS) provides dealers
with easy-to-use tools and real-time data access to enhance their
efficiency. DealerTrack's Inventory offerings provide vehicle
inventory management and merchandising solutions to help dealers
drive higher in-store and online traffic with state-of-the-art,
real-time listings – leading to accelerated used-vehicle turn rates
and higher dealer profits. DealerTrack's Sales and F&I
solutions allow dealers to streamline the entire sales process as
they structure deals from a single integrated platform. Its
Compliance offering helps dealers meet legal and regulatory
requirements, and protect their assets. DealerTrack also
offers additional solutions for the automotive industry, including
electronic motor vehicle registration and titling applications,
paper title storage, and digital document services.
DealerTrack's family of companies also includes data and
consulting services provider, Chrome Systems. For more information
visit: www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the benefits of the
DealerTrack credit application network, the continued growth of
lenders on that network, and all other statements in this release
other than the recitation of historical facts are forward-looking
statements (as defined in the Private Securities Litigation Reform
Act of 1995). These statements involve a number of risks,
uncertainties and other factors that could cause actual results,
performance or achievements of DealerTrack to be materially
different from any future results, performance or achievements
expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the economic
factors affecting the automotive finance market and the
availability of credit, DealerTrack's ability to attract additional
lenders, and other risks listed in our reports filed with the
Securities and Exchange Commission (SEC), including our Annual
Report on Form 10-K for the year ending December 31, 2010. These filings can be found on
DealerTrack's website at www.dealertrack.com and the
SEC's website at www.sec.gov. Forward-looking statements
included herein speak only as of the date hereof and DealerTrack
disclaims any obligation to revise or update such statements to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events or circumstances.
TRAK-G
SOURCE DealerTrack Holdings, Inc.