Sales and F&I

eContracting eBook

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2 | The Dealership Guide to eContracting 1. eVerify Electronic Verification 2. eSign Electronic signing on verified contract 3. eSubmit Submit electronically (no overnight shipping) WHAT IS eCONTRACTING? Technology that drives fast and efficient funding. Electronic contracting is the digital creation, validation, and execution of an automotive purchase contract, along with an online submission process between the dealer and the lender. eContracting replaces the traditional and mistake-prone approach of manual data entry and calculations, paper contracts with "wet" signatures, and overnight delivery of funding packages. As a result, it can significantly reduce the amount of time it takes to submit a contract ready for approval and funding. Originally established in 2002 by Dealertrack, it's a classic example of how technology creates workflow efficiencies within the automotive retail process.

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