DealerTrack has announced it is adding GMAC Financial Services to its credit application network.
The lender said the agreement would provide GMAC with access to retail financing applications on both sides of the border across all manufacturers.
“GMAC has taken a series of steps to support the auto industry during the past year, particularly in extending credit to the market,” said Tim Russi, executive vice-president for GMAC's North American Operations.
“Our presence on DealerTrack will allow us to bring the nearly 90 years of experience we have in auto finance to a broad and diverse group of dealers seeking vehicle financing for their customers.”
GMAC said the relationship would help broaden its customer base by plugging into DealerTrack’s credit application network, now sitting at more than 17,000 dealers. It went on to say existing GMAC customers would benefit from the additional application channel.
“Our strategy has always been to attract new financing sources, expand our subscribing dealer base and add value to our software applications,” said DealerTrack chairman and CEO Mark O'Neil. “This will help us achieve all three objectives.”
Dealers not currently possessing the capability to submit retail applications to GMAC through DealerTrack will be invited to enroll shortly. The invitation process is said to be staggered in its release to reach DealerTrack’s large volume of dealers.
Dealertrack representatives say the process should be complete in a few months.
- Look for further coverage of this story and its implication on Canadian dealers in the next issue of Canadian AutoWorld -