Wednesday, Aug. 16, 2006, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
FARMINGTON HILLS, Mich. -- RouteOne announced Thursday that its eContracting solution, jointly developed by DaimlerChrysler Financial Services, Ford Motor Credit Co., GMAC and Toyota Financial Services, has been deployed for pilot to a limited number of select Toyota and Lexus dealerships.
According to company executives, RouteOne's eContracting capability will enable the creation, execution, storage and management of motor vehicle finance agreement and ancillary documents. Additionally, the solution is designed to provide an imaging capability to eliminate the need for related paper documents to be sent separately from the eContract package.
"eContracting is the future of automotive financial transactions," explained Mike Jurecki, RouteOne's chief executive officer. "Based on the experience of our lender and dealer partners, RouteOne has built what will become the benchmark industry solution.
"Our product will minimize the need for process change and presents increased value to dealers and lenders alike," he continued. "We are committed to enhancing the product based on continuing back and input from our customers."
RouteOne said it currently has 120 lenders under contract for its credit application management system, including captive and non-captive companies.