Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Dealertrack

Exclusive Blog Posts

Why So Many Options If You Don't Pay Attention to The Source?

Why So Many Options If You Don't Pay Attention to The Source?

Is there a lot of thought that goes into deciding which call to actions to offer on the VDP’s? Or is it a constant free for all, or worse an aftertho…

3 Reasons Why Loyalty to Technology is Greater than Loyalty to Cars

3 Reasons Why Loyalty to Technology is Greater than Loyalty to Cars

Despite efforts to chase down loyalty in the automotive industry -  the path to a repeat purchase is an even tougher feat. Here are three reasons why …

Dispel Fears About the Auto Industry with Your Recruiting

Dispel Fears About the Auto Industry with Your Recruiting

If you were to ask most sales managers what customers don’t like about the automotive industry when shopping for a vehicle? They usually say, “…

How is Your 'Why Buy Here' Messaging?

How is Your 'Why Buy Here' Messaging?

What type of 'Why Buy Here' messaging are you using to drive in customers? Watch the video to learn more.   …

Give Customers a Refreshing, Old Ad Message

Give Customers a Refreshing, Old Ad Message

If you’re the average dealer who’s trying to grow business, the fixed operations departments are one of the best bets you can make. Once you br…

NADA 100: Three Questions to Ask About eContracting Technology

Few technology solutions solve a pressing retail issue as efficiently and precisely as electronic contracting. Indeed, virtually every aspect of the contract process is improved through this technology, starting with an improved consumer experience, and ending with a streamlined workflow between dealership and lender. eContracting is a simple and elegant answer to the errors and delays that previously slowed the final step in the car buyer’s journey. Today, it’s emerging as a required solution that keeps dealerships competitive and customers satisfied.

If you’re researching electronic contracting solutions, start with these three basic questions:  

1. What do I need to know before implementing the technology? First of all, make sure your electronic contracting solution is based on a SaaS platform – otherwise known as Software as a Service. That will eliminate many of costs and hassles of the technology. It’s also important to consider data integration: common customer data points may prefill the eContract, reducing manual data entry. That saves more time and eliminates errors. Finally, think about important sales flow options, such as the ability to review and sign via mobile device. That can help to create a more comfortable and convenient consumer experience.

2. Will eContracting save my dealership money? It depends on your dealership and the number of your contracts in transit. In fact, that is a great question to ask your service provider, who should be able to provide your dealership with a customized savings assessment. In terms of efficiency, eContracting will reduce time spent processing contracts and obtaining funding. That improves the overall experience, cuts interest expenses, and improves cash flow.

3. How many of my lenders are available? It’s simple: more lenders equals more opportunity to use the technology. That’s why Dealertrack features more than 20 key lenders (banks, credit unions, and captives) across the US, including Ally, Bank of America, Chase, Capital One and more. 

-- Brian Chee

 Unlock all of the community & features  Join Now