Dealertrack

Brian Chee

Dealertrack

Jan 1, 2017

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

Brian Chee

Dealertrack

Content Dev Manager

1190

No Comments

Recommended Posts

Hulsizer Chevrolet

Hulsizer Chevrolet is your go-to Montgomery Chevy dealer for excellent sales and service. Finding your next ride? Choose from a wide selection of new Chevrolets for sale, used Chevrolets for sale, or certified pre-owned Chevrolets for sale. As a Chev…

Hulsizer Chevrolet

Hulsizer Chevrolet

6
1 hour ago

FL Auto Sales Group

Florida Auto Sales Group specializes in custom Broncos for sale. We offer nationwide sales and modifications, with many buyers from out-of-state locations like NY, CA, TX, and VA. Whether you're searching for a new Ford Bronco for sale or want to…

FLAuto SalesGroup

FL Auto Sales Group

11
20 hours ago

Bakersfield Hyundai

Bakersfield Hyundai is a premier Hyundai dealer in Bakersfield, CA, dedicated to providing the best customer experience when shopping for a new Hyundai car or a used Hyundai car. Our friendly and knowledgeable team at Bakersfield Hyundai will guide y…

Bakersfield Hyundai

159
Last Week

Manahawkin Kia

At Manahawkin Kia, you'll find a reliable Kia dealer in Manahawkin, NJ, providing an extensive selection of both new and used Kia cars for sale. Whether you're in the market for a brand-new Kia or a pre-owned vehicle, we have a wide range of …

Manahawkin Kia

Manahawkin Kia

85
August 24th

ONYX Motors

ONYX Motors builds the best electric motorbikes for performance, style, and everyday use. Check out our electric motorbikes for sale, customize your ride with electric motorbike parts, and experience the power of a 80V electric bike today. Visit our …

ONYX Motors

ONYX Motors

105
August 22nd