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.

The enhancements, which were launched on July 20, are available to all dealerships on the DealerTrack credit application network at no charge.

The Dodd-Frank Act further extends the necessary credit score disclosure information required in Adverse Action Notices. Under the Dodd-Frank Act, businesses that use credit scores to make a credit decision must provide the credit score used, the primary reasons affecting the score, and the range of possible credit scores for the model used, among other information, within the Adverse Action Notices.

With the new functionality, any dealership using the DealerTrack credit application network will be able to generate Adverse Action Notices with the required disclosure information.

In addition, dealerships subscribed to the DealerTrack Compliance Solution will be able to continue to securely and electronically store all Adverse Action Notices generated through DealerTrack and monitor activity on the one-of-a-kind compliance dashboard.

This premium functionality is especially useful in helping dealers not only maintain compliance within their dealership, but in helping them prove it in the event of an FTC or Attorney General audit.

According to Robert Granados, vice president and general manager, Finance Solutions, DealerTrack, “We continue to engage dealers from across the country and stay abreast of updates to federal and state regulatory requirements. It is our goal to continue to deliver industry-leading tools and powerful reporting capabilities to help dealers comply with these regulations.”

The DealerTrack Compliance solution helps protect a dealership throughout the sales and F&I process, including credit reports, credit application submissions, menu presentations, and document storage and retrieval, as well as compliance with the Red Flags Rule, the Risk-Based Pricing Rule and Dodd-Frank Act requirements.

The DealerTrack solution allows dealers to work all deals on one fully integrated and secure platform to streamline the process and protect their dealership and its customers.

The new Red Flags Guarantee from DealerTrack will cover associated government-issued fines up to $25,000, should a dealership be cited for non-compliance with the Red Flags Rule while using the DealerTrack Compliance Solution.

“With auto identity theft on the rise, a new era of regulatory requirements has emerged, and DealerTrack has dealers covered when it comes to compliance,” said Robert Granados, vice president and general manager, Finance Solutions, DealerTrack.

“Backed by our extensive experience navigating the compliance and regulatory landscape and years of safeguarding dealers from identity theft, we can confidently offer this guarantee. No other company delivers the breadth of compliance safeguards coupled with such a guarantee.”

The DealerTrack Compliance Solution helps protect a dealership throughout the sales and F&I process, including credit reports and Red Flags, credit application submissions, menu presentations, and document storage and retrieval.

The solution allows dealers to work all deals on one fully integrated and secure platform to streamline the process and protect their dealership and its customers.

The Red Flags Rule, which is enforced by the Federal Trade Commission (FTC), requires businesses and organizations to adopt and implement an Identity Theft Prevention Program. The program should be designed to detect, prevent and mitigate identity theft when establishing or maintaining consumer credit and certain business accounts.

The potential liability dealers could face from not complying with the rule includes, but is not limited to, $3,500 per violation under the Fair and Accurate Credit Transactions Act of 2003, up to $16,000 in penalties under the FTC Act, and potential lawsuits from the FTC and State Attorney Generals.

This membership, valued at $3,500, will enable DealerTrack to offer valuable AFIP products and services to their clients at a rate significantly lower than retail. In addition to its other offerings, DealerTrack clients will have access to the popular AFIP Certification Program courses, allowing them to certify their F&I personnel in the federal and state regulations that apply to auto finance and leasing to defend against expensive fines and lawsuits or damaging media exposés.

Additionally, because AFIP Certified F&I Professionals sign AFIP’s industry-derived code of ethics, DealerTrack dealers can be confident that their personnel can be held personally accountable for their dealings with customers.

Upon awarding the prize, AFIP Executive Director David Robertson noted, “DealerTrack has a great reputation and we’re excited to find out how we can help them give their dealers one of the most valuable training programs in the auto industry.”

The DealerTrack credit application network allows dealers to electronically submit credit application data to the industry’s largest and most diverse network of banks, independent finance companies, captive finance companies, credit unions and regional banks. The DealerTrack credit application network has grown from five lenders in 2001 to 1,000 lenders today.

“The DealerTrack credit application network has been the foundation upon which we have built DealerTrack. We continue to draw strength from our success in this area as we grow into the only truly open and integrated, end-to-end solution provider for the automotive retailing industry,” said Mark O’Neil, chairman and chief executive officer, DealerTrack Holdings, Inc.

“As the nation’s economic recovery continues, we are seeing more and more lenders of all types join our credit network, and become active in the indirect auto finance market. We believe that the addition of new lenders to our network is an extremely positive sign for dealers, giving them confidence that a broader range of competitive financial resources are available to help them sell more cars.”

The credit application network is one component in the DealerTrack Performance Suite of solutions. The integrated DealerTrack Performance Suite is the industry’s most complete offering of high-value automotive management solutions and services for dealers, including Dealer Management Systems (DMS), Inventory Management, Sales, F&I, Compliance, and Processing Solutions and Services.

The integration, approved via DealerTrack’s OpenTrack Certification program, allows for seamless and secure connectivity between the AEROS CRM application and the DealerTrack DMS. The certified integration ensures the integrity of the customer, vehicle, F&I, general ledger, service and parts data exchanged between the two companies’ systems, reported F&I and Showroom.

“As DealerTrack continues to forge its leadership as a diverse technology solutions company for the automotive industry, it’s important that our dealers recognize e-autobusiness and its solutions as certified by DealerTrack to meet the customer relationship management needs of today’s auto retailers,” said Christian Thornton, managing director of e-autobusiness.

“DealerTrack is committed to supporting technology needs through our OpenTrack Program, which enables secure, real-time integration between systems running in a dealership and DealerTrack solutions,” said Allan Stejskal, vice president and general manager of DealerTrack DMS. “Working closely with OpenTrack-certified partners, such as e-autobusiness, we can deliver an effective, easy and affordable integration platform that allows our mutual dealer customers to use the solutions that best fit their needs and businesses.”

The addition of a certified integration with the DealerTrack DMS now ensures that AEROS seamlessly integrates with all major DMS systems in use by automotive retailers.

e-autobusiness’ AEROS CRM Software Suite, is a modular application that lets dealers build the level of sophistication in their CRM that best fits their business needs and budget. Dealers can add components as needed, over time. Certified by 15 manufacturers, the AEROS Software Suite helps dealers experience bottom-line results in sales, service, F&I, special finance, and parts, while providing web-based CRM, internet lead management, BDC control, lease and finance desking, and new media customer marketing.

Extending their long-standing relationship and commitments to providing the industry with compatible interfaces, the companies will develop certified interfaces between the Reynolds ERA® DMS and the DealerTrack AAX, eMenu and Salesmaker solutions. The new interfaces are in addition to certified interfaces with Reynolds’ DMS and DealerTrack’s credit application processing and eContracting solutions.

The RCI Program provides a standardized approach to handling dealership data from a Reynolds DMS in a safe, secure, and verifiable manner, which improves the security and supportability of interfaces for both dealerships and third-party vendors, reported DealerTrack.

“Delivering secure and reliable certified interfaces between the various systems that a dealership may use is critical to their success and the smooth running of a dealer’s operations,” said Raj Sundaram, senior vice president, DealerTrack, Inc. “With this certification, we can ensure that our common dealer customers will be able to securely and seamlessly exchange information between DealerTrack’s F&I solutions and the Reynolds ERA DMS platform.”

DealerTrack is committed to supporting dealers’ technology needs through its OpenTrack program that enables secure, real-time and seamless integration between systems running in a dealership and DealerTrack systems and solutions.

Since 2005, Reynolds and Reynolds has been working with dealerships, OEMs, and other software providers in the automotive industry on the safe, secure, and verifiable exchange of dealership data with a Reynolds DMS.

“While Reynolds and DealerTrack remain competitors, cooperating on developing certified interfaces between our solutions is in the best interest of our mutual dealership customers,” said Trey Hiers, vice president of Marketing for Reynolds. “And, that’s who both our companies are serving in the most efficient and most effective ways possible. For Reynolds, this is one more example of our focus on developing the technologies that help improve dealership productivity and deliver results for dealers.”

The Reynolds approach to data management provides a number of methods for dealerships to work with the vendor of their choice in a safe, secure, and supported manner in handling dealership data. This includes the Reynolds Certified Interface (RCI) Program.

LAKE SUCCESS – DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc., a leading provider of on-demand software and data solutions for the North American automotive retail industry, and Enterprise Car Sales, a division of Enterprise Rent-A-Car, today announced an agreement to deploy the DealerTrack Compliance Solution in all of the more than 140 Enterprise Car Sales’ locations nationwide.

The DealerTrack Compliance Solution, which complements Enterprise Car Sales’ focus on outstanding customer service and data protection, will enable Enterprise locations to maintain, monitor and audit compliance activity throughout every step of their sales and F&I process.  From credit application submission to identity verification, menu presentation, contract processing, tracking, reporting and document management, theDealerTrack Compliance Solution helps protect a user’s business by encouraging and simplifying adherence to all applicable laws and regulations, including Risk-Based Pricing and Red Flags Rules.

“DealerTrack’s Compliance Solution will make it easier for Enterprise Car Sales to keep up with current state and federal regulations and help maintain best practices for compliance,” said Raj Sundaram, senior vice president, Solutions Group, DealerTrack.  ”The broadening of our relationship with Enterprise is an important way DealerTrack can add value to their sales and F&I workflow process.”

According to Mark Cochrane, assistant vice president-Business Management for Enterprise Car Sales, “After thoroughly researching the market for a solution to help our Car Sales locations manage the ever-changing rules, regulations and trends affecting our business and our customers, we found the DealerTrack Compliance Solution to be well suited to our needs.”

In addition to the Compliance Solution, the DealerTrack Performance Suite includes high value solutions in the areas of dealer management systems, inventory, sales and F&I.

The acquisition is expected to significantly expand the breadth of DealerTrack’s transaction business, and to further strengthen DealerTrack’s relationships with lenders and automobile dealers.  The acquisition is expected to close in the first quarter of 2011, subject to customary closing conditions.

FDI Collateral Management (“FDI”), one of triVIN’s two primary businesses, provides electronic and paper-based lien and title solutions that allow lenders to outsource the management of vehicle and titles held as collateral for loans.  This business is an excellent complement to DealerTrack’s existing electronic contracting and paper processing services, and will create a comprehensive suite of outsourced solutions for lenders.

FDI provides services to some of the nation’s largest banks and captive automotive finance companies, many of which are existing customers of DealerTrack.  FDI connects more than 2,000 lenders with state Departments of Motor Vehicles (DMVs) to process, monitor and report electronic lien and title data.

General Systems Solutions (“GSS”), which is triVIN’s other primary business, provides vehicle registration solutions that allow automobile dealers, fleet companies and other third-parties to electronically register vehicles with DMVs in twelve states, and provides paper-based solutions that allow its customers to obtain vehicle registrations in all fifty states.  GSS has relationships with more than 4,000 dealers, rental and fleet companies.

Through mytitlesupport.com and RegUSA, triVIN helps make on-line title and electronic vehicle registration transactions easier and more efficient for consumers, dealers and lenders.  triVIN and its businesses will be key building blocks for DealerTrack to continue to build its leadership position in providing a comprehensive set of purchase and financing solutions for the retail automobile market, both in store and online.

triVIN is currently a portfolio company of American Capital, Ltd. and is  headquartered in Groton, Connecticut, with a major facility in Sacramento, California. While triVIN’s 2010 financial statements are not yet finalized, we expect its 2010 revenue to be between $54 and $56 million.

Mark F. O’Neil, chairman and chief executive officer of DealerTrack, commented, “The combination of DealerTrack’s and triVIN’s businesses creates a comprehensive suite of transaction services available to automobile lenders and dealers. We believe the combined entity will benefit considerably from the ability to cross-sell value-added solutions and services.”  O’Neil continued, “We also believe that this acquisition will better position DealerTrack long-term to facilitate the online purchase and financing of vehicles.”

Mark Furcolo, president and chief executive officer of triVIN, commented, “We are very excited to join forces with DealerTrack since our combined businesses are complementary.” Furcolo continued, “This transaction will benefit our customers by allowing us to offer a broader array of services through one organization.  We believe the combination will allow us to leverage our platforms and accelerate the development of new services for our customers.”

The triVIN executive team is expected to remain with the combined company.

The acquisition has been approved by the respective Boards of Directors of both DealerTrack and triVIN. The transaction has also been approved by triVIN’s stockholders.

DealerTrack was represented by O’Melveny and Meyers LLP in this transaction.

LAKE SUCCESS, N.Y. — DealerTrack Inc., a subsidiary of DealerTrack Holdings Inc., has added functionality to its DealerTrack Performance Suite that will enable dealers to comply with the Federal Trade Commission’s new Risk-based Pricing Rule, which goes into effect on Jan. 1, 2011. The enhancements are available automatically for free to all dealerships on the DealerTrack credit application network.

The Risk-Based Pricing Rule requires dealers who use credit reports to issue a notice to customers who receive credit from them on terms that are less favorable than terms received by most of their other credit customers. Dealers do not need to determine who falls into this category if they simply issue to all their credit applicants a credit score disclosure “exception notice.” This notice includes the customer’s credit score and other information that puts the score in context.

With the new functionality, any dealership using the DealerTrack credit application network will be able to print credit score exception notices pre-filled with all required information, as well as exception notices on their lender’s behalf for two-party financing. In addition, dealerships subscribed to the DealerTrack Compliance Solution will be able to electronically store and view status reports on all exception notices generated by their dealership though the solution’s dashboard and audit tools.

“We’re very pleased to further expand DealerTrack’s leading F&I offerings by including risk-based pricing functionality at no additional charge,” said Raj Sundaram, senior vice president, Solutions and Services Group at DealerTrack. “These and other enhancements underscore our ongoing commitment to providing dealers with the industry’s most comprehensive package of compliance capabilities, thus reducing their exposure to legal and regulatory risks.”

Dealers who do not comply with the new Risk-based Pricing Rule are subject to potential fines of up to $16,000 per violation, as well as possible penalties at the state level. The FTC is also scheduled to begin enforcement on Jan. 1 of the Red Flags Rule, which requires dealers to take steps to detect and prevent identity theft. DealerTrack’s Compliance Solution includes tools to help dealers comply with the Red Flags Rule as well.