LAKE SUCCESS - DealerTrack announced that the number of active lenders connected to its DealerTrack credit application network has surpassed 1,111 U.S. lenders.
The DealerTrack credit application network allows dealers to electronically submit credit application data to the industry's most diverse network of banks, independent finance companies, captives, and credit unions.
The DealerTrack credit application network, which has grown from five lenders in 2001 to more than 1,111 lenders today, continues to expand.
"With the overall improvement in the automotive retail industry, the DealerTrack credit application network continues to be the biggest credit network for dealers and lenders," said Mark O'Neil, chairman and chief executive officer, DealerTrack.
"The number of lenders that continue to join our credit application network is a bright spot for the automotive retail industry and the economy in general."
As part of this milestone achievement, DealerTrack will be running a promotion for all dealers in the United States, in which dealers can win $1,111.
For the promotion, DealerTrack will be asking dealers to refer lenders who aren't already electronically connected to the DealerTrack network. If the referred lender electronically connects to the DealerTrack network before December 31, 2011, the dealer has a chance to win $1,111 cash prizes.
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