#nada used car guide
NADA’s Used-Vehicle Values Featured in New DealerTrack Product for Lenders
McLean, VA, August 10, 2009; NADA Used Car Guide (NADA) has been tapped to provide used-vehicle values for a newly launched product by DealerTrack, Inc. that is designed to enhance lenders’ efficiency and further streamline the auto lending process.
Lenders nationwide depend on used-vehicle values from NADA to determine collateral value. Now, with DealerTrack’s new “BookOut for Lenders,” they can access them directly through the DealerTrack credit application system. Values are provided based on the year, make and model, as well as the condition of the vehicle. The new product also saves time and helps reduce errors by eliminating the need for a lender to manually “bookout” vehicles or “cut and paste” into an application.
“We are pleased to expand our partnership with NADA through the launch of our new BookOut for Lenders solution,” said Robert Granados, vice president and general manager at DealerTrack. “In today’s volatile market, lenders need the easiest possible access to accurate, up-to-date bookout values, and that’s why we designed a solution that is fully integrated with the DealerTrack network.”
“It’s critical that vehicle values reflect the dynamics of short-term market volatility, as well as longer-term cyclical patterns, for the most complete picture,” said Mike Stanton, vice president and chief operating officer, NADA Used Car Guide. “DealerTrack recognizes that NADA’s values do that, and we’re very pleased to team up to provide this information to lenders in an easy-to-use, automated delivery method.”
About NADA Used Car Guide
Over a 76-year history, NADA Used Car Guide has earned its reputation as the leading provider of market-reflective vehicle valuation products, services and information to businesses throughout the U.S. and worldwide. NADA’s editorial team collects and analyzes over one million combined wholesale and retail automotive-related transaction prices per month. Its guidebooks, auction data, analysis, and data solutions offer automotive, financial, insurance, and government professionals the timely information and reliable solutions they need to make better business decisions. For more information, visit www.nada.com/b2b.
DealerTrack’s high-value software solutions enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, agents and aftermarket providers. DealerTrack operates the industry’s largest online credit application network, connecting approximately 19,000 dealers with over 750 financing sources. Our solution set for dealers is the industry’s most comprehensive. Our Dealer Management System (DMS) enables dealers to effectively manage data and operations from a system with an open integration interface. With DealerTrack Inventory Optimization, dealers get better data along with the tools to make smarter, more profitable inventory decisions. Our Sales and F