#USA #Atlanta #Cox Automotive #Dealertrack #Auto Finance

Dealertrack: Transforming Auto Finance Efficiency

Cox Automotive's brand Dealertrack is making waves in the auto finance sector, emphasizing the need for efficiency and technological innovation. With the introduction of several new APIs and product enhancements, Dealertrack aims to streamline the contracting and funding process for lenders and dealers alike.

In today's rapidly changing market, the demand for seamless, omnichannel shopping experiences has never been higher in the auto retail industry. With a staggering 86% of auto finance contracts now eligible for digital submission, Dealertrack believes the era of automated funding without human input is on the horizon. Enhancements to the platform focus on reducing fraud, eliminating friction throughout the buying journey, and expediting digital adoption. This approach allows for improved customer satisfaction, as revealed by the latest Cox Automotive Car Buyer Journey Study.

Andy Mayers, the lender solutions strategist for Cox Automotive, highlights the transformation in auto finance by stating, "We led the automation of credit applications, and now Dealertrack is focused on assisting lenders and dealers in achieving maximum efficiency with auto-fundable contracts." The benefits are clear: buyers will spend less time at the dealership, dealers can close deals more quickly and profitably, and lenders can redirect resources previously spent on manual reviews to enhance other business areas.

Dealertrack is uniquely positioned in the marketplace, leveraging its extensive network of dealerships, aftermarket providers, and lending partners. This strategic advantage allows them to revolutionize auto finance effectively.

Key Innovations and Features

Several innovations have been introduced to enhance the consumer buying experience:

1. Fast Closing Tools: New tools empower dealer partners to close deals swiftly, enabling lenders to fund loans efficiently. This minimizes the necessity for lengthy discussions over alternative deal structures.
2. Omnichannel Solutions: With a comprehensive set of digital retailing APIs, Dealertrack's Contracting Services allow for transactions to occur anytime, anywhere. Partners can generate contracts on their platforms, ensuring accurate deal data flows seamlessly across various marketplaces.
3. Stipulation Management: Automation of the stipulation capture and clearing process assists both dealers and lenders. Incoming enhancements slated for 2026 aim to automate these processes at the point of sale.
4. Aftermarket Validation: With more than 61% of contracts incorporating aftermarket products requiring diverse documentation, Dealertrack's new partnership with FI Sentinel provides dealers with insight into lending partners, facilitating easier compliance with aftermarket requirements.
5. AI Integration: Artificial intelligence will play a pivotal role in examining and cross-referencing deal data, ensuring compliance with lender policies. This advancement aims to reduce the risk of contract returns and enhance funding speed.
6. Fraud Mitigation: In addressing the significant issue of fraud—projected to cost the auto finance industry a staggering $9 billion in 2025—Dealertrack is implementing tools to streamline processes and enhance security from credit application to final purchase signatures.

Dealertrack's dual focus seeks to bolster both operational efficiency for businesses and convenience for consumers. Their strategy includes:

• - Equipping dealers with valuable insights through compliance resources and guides.
• - Collaborating closely with industry leaders like Point Predictive's BorrowerCheck solution to mitigate risks associated with synthetic identities.

Dealertrack's forward-thinking initiatives empower all stakeholders—dealers, lenders, OEMs, and digital retailing partners—to craft personalized, transparent, and flexible experiences tailored to modern car buyers.

Mayers emphasizes that the primary objectives are to combat fraud and automate funding processes to enhance communication between lenders and digital contracting dealers. Enhancements driven by AI and risk reduction strategies highlight Dealertrack's commitment to a comprehensive automated funding solution.

Derek Hansen, senior vice president at Cox Automotive, asserts, "Dealertrack is dedicated to providing innovative technology crucial for the success of automotive dealerships and lending institutions. By integrating our unmatched product suite, we promote efficiency and empower informed decision-making that fosters growth."

For further details about Dealertrack's financial efficiency measures and best practices, you can explore their offerings at Cox Automotive or encounter them at NADA 2026.