Sales and F&I

Dealertrack_Best Practices Whitepaper_11.14.2022

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Use solutions that include DMS integrations to reduce duplicate data entry. 75% of credit application fields pre-filled from Dealertrack DMS 3 90% reduction in re-entering in-state reg & title information 4 Switch from paper contracts to a digital contracting solution that flags errors and catches missed signatures. 1 in 4 paper contracts contains an error 5 BEST PRACTICES OF SUCCESSFUL DEALERSHIPS Overcoming current challenges with technology In today's marketplace, a connected workflow is key to a deal process that delivers increased efficiency and profitability for your dealership while streamlining the consumer journey. Here are some ways in which digitizing F&I and registration and title can address your key concerns. Submit digital contracts to lenders. Up to 83% faster funding time compared to paper contracting 6 Use a trade-in titling solution to speed lien & title release. 70% faster payoff and lien & title release helps you recognize fuller profits on trades 7 2x increase in likelihood of first pass sale at auction with title in hand 8 Make digital contracting your go-to for every deal. $599 average savings per month on shipping costs 9 Save on paperwork expenses and holding costs with an electronic trade-in titling solution. $1.3K per month on trade-in title/check shipping costs 10 $40 per day, per vehicle holding costs 11 Leveraging Dealertrack F&I and Registration and Title solutions together can help save dealers up to an average of $20,664/month per rooftop in unnecessary costs in paper documentation, shipping and handling. 15 Learn how Dealertrack F&I and Registration & Titling can save you money and boost your bottom line. 1 Cox Automotive 2021 Car Buyer Journey Study, 2 Dealertrack User Timing report through Google Analytics 1/1/21 to 12/31/21, 3 Based on Dealertrack DMS configurations, 4 When using Dealertrack DMS with Dealertrack F&I Digital Contracting, 5 Dealertrack data 2020, 6 Data based on user input and calculations using Dealertrack's Digital Contracting Savings Calculator as of July 2022 and are not a guarantee of actual savings, 7 Based on average industry timeframe for vehicle title release and vehicle payoff process of 18+ days, as determined by 2021 Dealertrack data, 8 2018 (1.6X) Manheim Articles "Impact of Delayed Titles at Auction", 9 Cox Dealer Online Community, 10 Data based on user input and calculations using Dealertrack's Accelerated Title Savings Calculator as of July 2021 and are not a guarantee of actual savings, 11 Based on Dealertrack dealer customer inputs as of 2022, 12 2022 Auto Fraud Trends Report. Point Predictive, 13 FCRA regulations 1215 U.S.C. § 1681m(h)(8); 15 U.S.C. § 1681s; 16 C.F.R. § 1.98 and 15 U.S.C. § 1681s(a)(1); 16 C.F.R. § 1.98, 14 OFAC SDN List Clearance FNKDA violations, 15 Based on industry standards for labor costs and Dealertrack and dealer customer data as of August 2022. Not a guarantee of actual savings. Offer an online credit application on your website. 10% lift in customer satisfaction vs. customers who applied in person 1 Provide digital signing options. 31 minutes saved vs. manual signing of paper contracts 1 Complete each deal with electronic in-state registration and titling. < 4 minutes to submit transactions to the DMV, allowing your customers to drive off in their new vehicle faster 2 Ready to address your dealership's challenges? Multifactor authentication built into remote signing is designed to detect fraud attempts. $7.7B auto loan fraud cost in 2021 12 Integrated compliance checkpoints in your F&I process help keep you compliant with federal regulations. $4k+ per violation for Red Flags Rule and Risk-Based Pricing Rule Notices 13 $1.5M potential civil penalty for OFAC SDN violations 14 Signature ® ® LEARN MORE 01 "How can I give my customers the speed and convenience they expect?" 02 "What will it take to reduce errors throughout my deals?" 04 "What can I do to save on operational costs and preserve my profitability?" 05 "What if a customer isn't who they say they are?" 03 "I need faster funding and more fluid cash flow."

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