Dealertrack announces a new integration with IAA Inc., a global marketplace connecting vehicle buyers and sellers. Bringing together two industry leading technology solutions - IAA Loan Payoff™ and Dealertrack Accelerated Title - will help mitigate the time-consuming process of managing a total loss claim requiring loan payoff and title release. This integration now offers lenders and insurers one solution that delivers positive and negative equity functionality, real-time payoff quotes, letters of guarantee, access to title vaults, and direct connection and ACH payments to lenders.

DealerTrack announced the launch of Digital Contracting on DealerTrack uniFI, completing its single platform that connects the entire deal workflow process from leads to contracts for the company’s network of approximately 22,000 dealers and more than 1,600 lenders.

“Dealertrack uniFI combines as many as 51 different pieces of paperwork from the car deal process into a single online deal jacket, simplifying the car-buying journey for customers and adding efficiency to submission to lenders,” said Firas Makhlouf, chief information officer of Driver’s Village, a longtime DealerTrack customer, in Cicero, N.Y.

VADA Endorses DealerTrack

September 15, 2019

The Virginia Automobile Dealers Association (VADA) has expanded its preferred endorsement of Dealertrack registration and title solutions to include Accelerated Title in a continued effort to improve efficiency and bring a more modern, streamlined and electronic registration and title process to Virginia dealers.

On average, dealers pay a holding cost of $32 per day, per vehicle that sits idle on their lot. In addition, long-standing proprietary research found that vehicles with titles at auction are nearly two times more likely to sell on the first pass through an auction lane than those without titles. With Accelerated Title, dealers who take in trade-in vehicles are able to obtain instant payoff quotes, see title images, pay off loans with the click of a button and receive the title in as quickly as four to six days.

Dealertrack’s lender and dealer solution promises to substantially speed up the standard payoff and title release process by up to 70 percent.

Teledata Communications Inc. (TCI), a provider of loan origination solutions for credit unions, banks and finance companies, has expanded its partnership with Dealertrack.

This expanded partnership integrates TCI’s DecisionLender 4 loan origination system (LOS) with Dealertrack’s Digital Document Services.

Dealertrack’s integrated suite of products helps dealerships and their lending partners increase efficiency and improve decision-making. The company sees offering paperless transactions as the latest way to follow its mission.

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