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Jared Hamilton
From: Jared Hamilton
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How Your Dealership Can Have Social Media Mania, Brother! | KPI Cafe Season 3 Episode 3

How Your Dealership Can Have Social Media Mania, Brother! | KPI Cafe Season 3 Episode 3

Host Dane Saville conjures up the power of Hulkamania to talk about a remarkable paid social media strategy that speaks to varied audiences with tailor…

Seven Realizations About Planning

Seven Realizations About Planning

Today I was coaching a spry young and driven project manager of a very successful dealer group and long-time coaching client. We discussed three project pl…

The Impact of Improving Price Transparency

The Impact of Improving Price Transparency

    At DSES we sat down with John Rossman to talk about trust. Putting the power back into the hands of the consumer by providing t…

Federal Consumer Data Privacy Act in the Works

Federal Consumer Data Privacy Act in the Works

Do you think that compliance with the proposed FTC Safeguards Rule, the California Consumer Protection Act (CCPA) or New York’s SHIELD Act, puts an o…

Leveraging the Mental Game

Leveraging the Mental Game

I'm working on my metaphors so bear with me on this one... The Boston Bruins are tied for 1st in the NHL standings right now with the highest goal d…

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

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