Explore the Myths of Digital Contracting
With DMS integration to minimize data entry, lender requirements at your fingertips and built-in data verification to reduce errors - Digital Contracting takes your workflow to the next level! The technology is easy, the documents are part of the deal jacket, and it only takes a few clicks to submit a contract.
Federal law in the United States has ensured that electronic signatures are valid and legally binding since the passing of the E-Sign Act in June of 2000. Capturing signatures electronically with Digital Contracting on Dealertrack uniFI helps increase accuracy and eliminate missing signatures that can delay funding.
Lenders value the increased contract accuracy that eContracting delivers by flagging potential errors in real-time and catching missing signatures even before submission. Sending complete funding packages digitally expedites the lender’s review process so they can provide better service and faster funding.
Compared to the daily hassle of paper contracts, eContracting requires minimal setup to get started and provides a streamlined workflow that’s easy to learn and use.
DMS integration pre-fills data fields with customer and deal information, reducing data re-entry for a faster and more efficient workflow from leads to contracts in one online deal jacket.
Aftermarket contracting with providers is a separate process. Digital Contracting on Dealertrack uniFI enables the payment calculation, signing and submission of all aftermarket contracts in one convenient deal jacket so you can submit a complete funding package to the lender.
*Source: 2019 Cox Automotive Car Buyer Journey
74% of car buyers say they are more satisfied with their dealership experience when they can complete their paperwork digitally. The convenience and efficiency of eContracting help improve the customer experience – and the dealership’s CSI scores.*
*Source: 2019 Cox Automotive Car Buyer Journey
You can use eContracting with lenders that offer it today and experience the benefits of contracting accuracy and faster funding for those transactions. As the lender network for Digital Contracting on Dealertrack uniFI grows, those efficiencies will extend to more deals.
Dealertrack enables lenders to adopt a digital process for ALL dealer contracts – whether the dealer is eContracting or still sending in paper. And this process consistently provides same-day turnaround for EVERY contract received, every day.
Dealertrack offers varied paths to go digital – some may require IT time and resources, others do not. We help you map your best onboarding strategy to ensure your best ROI.
Federal law in the United States has ensured that electronic signatures are valid and legally binding since the passing of the E-Sign Act in June of 2000. Capturing signatures electronically with Digital Contracting on Dealertrack uniFI helps ensure that funding packages are complete and accurate.
Dealers DO want the efficiencies and fast funding benefits of eContracting. According to a 2018 Cox Automotive survey, 54% of franchise dealers are eContracting — and more than HALF of those remaining are waiting for their lenders to offer it.
Not so! Because every lender client is unique, we offer different paths to going digital — and work hand-in-hand with lenders to make implementation as smooth and easy as possible.
With eContracting, encrypted contract data flows securely and directly into a lender’s Loan Origination System (LOS). Once approved, contracts are stored in a secure eVault with multiple backup systems to protect the data.
Not so! Dealertrack employs all necessary safeguards to ensure eVault security, and provides 7+ years’ term of contract storage, audit trail reports, and more to ensure compliance
Aftermarket contracting with providers is a separate process. Digital Contracting on Dealertrack uniFI enables the payment calculation, signing and submission of all aftermarket contracts in one convenient deal jacket so you can receive a complete funding package from the dealer.
*Source: 2019 Cox Automotive Car Buyer Journey
78% of dealers in a recent survey* said they are using an eContracting solution, or they are ready to adopt as soon as their lenders are on board. And fast funding is one of the TOP 3 reasons a dealer chooses a lender partner.**
*Source: 2019 Dealertrack Lender Insights Survey
*Source: 2019 Cox Automotive Car Buyer Journey
You want to be where the dealers are – and not every dealer uses the same eContracting platform. With Dealertrack you have access to the largest dealer-lender-aftermarket provider network in the industry, which means added and exclusive efficiencies for you.
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