DealerTrack Delivers Electronic Lien and Title Solutions in South
Dakota and Wisconsin
LAKE SUCCESS, N.Y.,
Oct. 15, 2012 /PRNewswire/
-- Helping to lead the way in the growing use of electronic
lien and title processing across the country, DealerTrack
(Nasdaq: TRAK) today announced its ELT Direct offering will be used
in South Dakota and Wisconsin this year.
(Logo:
http://photos.prnewswire.com/prnh/20101028/DEALERTRACKLOGO )
Beginning this month, South
Dakota will take their lien and title notification
processing online. Lenders doing business in the state will be able
to receive electronic notices of titles with liens, instead of
paper titles, and release liens electronically, using DealerTrack's
ELT Direct solution.
In addition, DealerTrack has been approved to offer its ELT
Direct product in Wisconsin. The state plans to begin
rolling-out its ELT program in phases and expects to offer a
complete ELT system later this year.
DealerTrack's ELT Direct eliminates the receipt, management, and
handling of paper titles throughout the term of a loan or lease.
Using this comprehensive software solution, lenders can easily
automate what was previously an extremely manual, time- and
resource-consuming process. As a result, lenders can reduce
internal processing costs and fraud, as well as eliminate "lost
titles."
"The use of electronic lien and titling is continuing to grow,
as more states realize the benefits," said Kathy Kassinos, vice president and general
manager, DealerTrack. "As an experienced and proven automotive
retail partner, DealerTrack can deliver real value to lenders
looking to implement electronic solutions for lien and title
management."
Currently, DealerTrack's ELT Direct solution is offered in the
following states: Arizona,
California, Florida, Georgia, Hawaii (Oahu), Idaho,
Louisiana, Massachusetts, Nebraska, New
York, Ohio, Pennsylvania, South
Carolina, Texas,
Virginia, and Washington.
About DealerTrack
(www.dealertrack.com)
DealerTrack's intuitive and
high-value web-based software solutions and services enhance
efficiency and profitability for all major segments of the
automotive retail industry, including dealers, lenders, OEMs,
third-party retailers, agents, and aftermarket providers. In
addition to the industry's largest online credit application
network, connecting more than 18,000 dealers with more than 1,200
lenders, DealerTrack delivers the industry's most comprehensive
solution set for automotive retailers, including Dealer Management
System (DMS), Inventory, Sales and F&I, Interactive, and
Registration and Titling solutions. For more information
visit www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the
benefits of DealerTrack's ELT Direct solution, the growth of
electronic lien and titling, 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 adoption
by lenders of DealerTrack's ELT Direct solution, the adoption of
electronic lien and titling by state DMVs, 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, 2011. 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