Ally to Expand Econtracting to All 50 States
March 23, 2016
LAKE SUCCESS, N.Y. — Currently, dealers in 42 states can complete an econtract with Ally as the finance source through Dealertrack. The company is aiming to complete the set by adding Arizona, Hawaii, Michigan, Mississippi, Montana, New Jersey, New Mexico and Wisconsin to that list over the next several weeks.
By granting the remaining eight states the ability to econtract through Ally, Dealertrack officials said in a press release that the company aims to spur the adoption rate of digital technologies among automotive finance sources and dealers.
“Econtracting is gaining momentum and popularity — and will be a vital part of the car buying process in the years to come because of its convenience and efficiency,” said Tim Russi, president of automotive finance for Ally. “The broad availability of eContracting on the Dealertrack F&I platform gives more dealers the opportunity to evolve their contracting process and receive faster funding with Ally, thus giving car buyers a better customer experience.”
Since the introduction of its econtracting solution, which also works on mobile devices, Dealertrack has booked more than three million econtracts. Its end-to-end solution, the company stated, generates contracts for execution and performs electronic verification, signature, submission and storerage of contracts.