MONTOURSVILLE, Pa. — AutoTrakk, a finance company that specializes in the subprime market, announced it has launched a new Rapid Approval System designed to expedite the approval of consumer finance applications.

Robert Malcolm, AutoTrakk president, explained that the proprietary software system analyzes specific non-traditional data, in addition to stand credit information and presents its results almost instantaneously for review by a member of the AutoTrakk underwriting team.

He went on to say that consumer credit scores remain a key ingredient in the approval equation; however, the AutoTrakk system also considers less obvious factors such as length of residency in a community and the time an applicant has spent in a given profession.

Moreover, the program even offers consumers the opportunity to provide a narrative explaining their circumstances, according to Malcolm.

"Our goal with this new system is to reduce the time required to qualify and approve a customer for AutoTrakk financing," said Malcolm. "Our unique system has always enabled our dealers to obtain financing for customers when other dealers couldn't.

"Now we're making a concerted effort to approve that customer even faster than ever before," he continued. "We've even introduced a 10-minute program for our larger volume dealers."

Malcolm pointed out that the actual decision on an application is always made by an experienced member of the company's underwriting team and not by a computer system.

The system combines low weekly payments and an electronic payment reminder device, executives explained. This combination was designed to minimize the risk normally associated with extending credit to those with less than ideal credit history, executives added.

For more information on AutoTrakk, visit