Dealertrack and F&I Express recently strengthened their partnership through the introduction of the latter's Express Recoveries Solution. The offering provides finance companies and consumers a refund of the unused portion of their aftermarket contracts.
The service will be available through Dealertrack to finance companies on Oct. 1.
“The Express Recoveries Solution will expand Dealertrack’s offering to its more than 6,800 lenders, helping to bring aftermarket providers and lenders together and facilitate the management of aftermarket recoveries for dealerships,” said Mark Furcolo, senior vice president of lender solutions at Dealertrack.
“The integration of Express Recoveries Solution will help lenders and dealers strengthen their relationship when it comes to aftermarket recoveries to consumers. This will ultimately enable better workflow and greater efficiencies, much needed in today's dealerships,” Furcolo continued.
In addition, Dealertrack and F&I Express will join forces to provide dealerships with additional access to F&I product providers through the Dealertrack platform through Dealertrack eMenu and the Dealertrack Aftermarket Network.
Through this workflow on Dealertrack, dealers can access product rates, generate contracts and remit contracts to the providers.
In the coming months, Dealertrack will provide more information about when providers and their rates will be added to the Dealertrack Aftermarket Network.
“Our aligned vision to provide powerful, innovative solutions to dealers to enhance workflow is a primary reason why we feel so strongly about our partnership with Cox Automotive, and expanding our relationship with Dealertrack is an important aspect of that,” said Brian Reed, president and chief executive officer of F&I Express.
“To include our award-winning Express Recoveries Solution on Dealertrack’s platform means lenders have increased and improved access to F&I providers for product cancellations,” Reed went on to say.