DealerTrack Partners With N.A.D.A. Official Used Car Guide(R) Company To Launch New BookOut(TM) Feature

DealerTrack Partners With N.A.D.A. Official Used Car Guide(R) Company To Launch New BookOut(TM) Feature

Industry Leaders Join Forces to Integrate Used Car Values With Online Credit Applications

MELVILLE, N.Y. and MCLEAN, Va., Dec. 13 /PRNewswire/ -- DealerTrack, Inc. and the N.A.D.A. Official Used Car Guide(R) Company today announced that they are partnering to launch DealerTrack BookOut(TM) with N.A.D.A. Official Used Car Guide(R) values. This will be the industry's first product that integrates automatically updated used vehicle valuations with an online credit application system.

Scott Lilja, chief operating officer of the N.A.D.A. Official Used Car Guide Company, said, "This tremendous partnership brings together two industry leaders to provide a value-added solution for all of our mutual customers. DealerTrack BookOut with N.A.D.A. Official Used Car Guide values transforms a cumbersome, time-consuming process into a seamless integrated bookout solution, with significant benefits for both dealers and financing sources."

Currently, many automobile dealers and financing sources subscribe to N.A.D.A.'s printed guides, which are issued monthly with updated vehicle valuations. To complete a credit application involving a used car, dealership personnel must locate the latest guide, look up the correct vehicle -- with all appropriate options, equipment and mileage -- and then enter the information manually on the application.

DealerTrack BookOut allows dealers to accurately and quickly obtain N.A.D.A. Official Used Car Guide values, which will be updated automatically each month. The dealer can then seamlessly transfer all of the information about the vehicle and its value to a DealerTrack(TM) credit application, print it, or save it to an online database, where it can be accessed again at a later date.

When DealerTrack BookOut is used to calculate the value of a used vehicle and to pre-fill a credit application, a "BOOKOUT" flag is automatically checked -- a signal to financing sources that the value shown on the credit application is derived from an industry standard guide.

Mark O'Neil, DealerTrack's president and chief executive officer, said, "Dealers have been asking us to integrate N.A.D.A. valuation guides with the DealerTrack platform, so we are very pleased to be able to deliver this innovation. For our dealer customers, BookOut will save time, reduce the likelihood of errors and help ensure that trade-ins and financed vehicles are valued consistently and appropriately."

Mr. O'Neil concluded, "For DealerTrack, the addition of BookOut represents another key step toward our objective of creating a comprehensive technology solution that streamlines and integrates dealerships' sales and finance processes."

About the N.A.D.A. Official Used Car Guide(R) Company

The N.A.D.A. Official Used Car Guide(R) Company, a NADASC subsidiary, has provided used vehicle valuation products and services to the auto, finance, fleet/lease, government and insurance industries since 1933. In addition to the N.A.D.A. Official Used Car Guide(R), N.A.D.A. also produces the N.A.D.A. e-Valuator(R) valuation software family, various developer's tools, the ATD/N.A.D.A. Official Commercial Truck Guide(R), AuctionNet(R) Online, consumer and business web sites (nadaguides.com and nada.com/b2b), and a full line of appraisal guides, including RVs, boats and motorcycles.

About DealerTrack, Inc.

DealerTrack operates the leading online automotive sales and finance platform, enhancing efficiency, profitability and customer satisfaction for dealers and their financing sources. More than 24,000 dealers and 100 financing sources are currently connected via DealerTrack's online credit application system, which is free to the dealer. By integrating the full suite of subscription products, dealers can build a comprehensive sales and finance management solution that enables them to desk their deals, get credit decisions quickly, complete contracts electronically, and improve compliance in their dealerships. DealerTrack also offers access to credit reports and used vehicle valuations, activity reports, a dealer website product, and integration with dealer management systems. Through its participation in AFSA, ASC X9, SPeRS, STAR and other organizations, DealerTrack continues to drive industry-wide technology standards to support the total financing process. More information on DealerTrack is available at http://www.dealertrack.com/ or by calling 877-357-8725.


Source: DealerTrack Inc.

CONTACT: Stacey Chosed of DealerTrack, Inc., +1-631-574-4547, ext. 1070,
stacey.chosed@dealertrack.com; or Cathy Sentnor of N.A.D.A. Official Used Car
Guide(R) Company, +1-703-749-4702, csentnor@nada.org

Web site: http://www.dealertrack.com/


-------
Profile: intent