FARMINGTON HILLS, Mich. and LAKE SUCCESS, N.Y. -- Mercedes-Benz Financial Services USA and DealerTrack today announced that DealerTrack Aftermarket Services, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), has been selected as the exclusive technology platform to support sales of Mercedes-Benz Financial Services's comprehensive line of Mercedes-Benz-branded vehicle protection products sold by dealers to their customers.
Since 2006, Mercedes-Benz Financial Services has been responding to the needs of Mercedes-Benz dealers and their customers by creating and executing an aftermarket product offensive of six vehicle protection products that are branded Mercedes-Benz Financial Services and guaranteed to use genuine Mercedes-Benz parts installed by Mercedes-Benz-trained technicians when repairs are needed.
In creating these products which protect a customer's investment and provides peace of mind, Mercedes-Benz Financial Services has partnered with best-in-class aftermarket product insurance underwriters who administer contracts and claims in addition to functioning as the back-office support for contract administration.
Now, to streamline this process and make the sale of these products easier for dealers and their customers, Mercedes-Benz Financial Services and DealerTrack Aftermarket Services, Inc., are in the process of signing up approximately 25 dealers for a pilot phase before a national rollout to all 355 Mercedes-Benz dealerships, targeted for March 1, 2011.
Safe-Guard Products International, Zurich, and Advantage Product Pipeline are the three underwriters of the Mercedes-Benz Financial Services vehicle protection products. Now all three companies will present rates to and accept electronic contracts from dealers through DealerTrack Aftermarket Network.
"The teaming up of our underwriters with DealerTrack is a great way for our dealers and their customers to benefit from DealerTrack's solution by streamlining the communication process with our underwriters and increasing customer satisfaction with the aftermarket selling experience," said Christopher Weinig, General Manager Insurance, Mercedes-Benz Financial Services.
DealerTrack's fully-automated and paperless workflow solution will streamline the selling process for Mercedes-Benz dealers by providing access to real-time rates, menu presentation tools and electronic contract submissions with preferred providers.
"This process will enable Mercedes-Benz dealers to reduce contract errors, increase Customer Satisfaction Index (CSI) scores and provide customers with complete legal disclosures to meet compliance requirements," said Raj Sundaram, senior vice president, solutions and services group at DealerTrack.
Mercedes-Benz Financial Services full line of aftermarket vehicle protection products and the years they were introduced include:
First Class Lease Protection
First Class Interior and Exterior
First Class Guaranteed Auto Protection (originally introduced in 2006)
First Class Wheel and Tire Protection Plus (originally introduced in 2006)
First Class Paintless Dent Repair
First Class Windshield Protection
Representatives from Mercedes-Benz Financial Services and DealerTrack will be demonstrating the fully automated process at the upcoming National Automobile Dealers Association (NADA) Convention February 5-7 in the DealerTrack booth (#727 S).
About Mercedes-Benz Financial Services USA LLC
Mercedes-Benz Financial Services USA LLC, headquartered in Farmington Hills, Mich., with Business Center Operations in Fort Worth, Texas, provides brand-specific financial services and products for Mercedes-Benz automotive dealers and their retail customers.
It also provides financial support to smart USA dealers and customers. In the U.S. trucking industry, it conducts business as Daimler Truck Financial and finances Daimler Trucks North America commercial vehicles branded Freightliner, Western Star and Thomas-Built Buses. Mercedes-Benz Financial Services USA LLC serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,500 employees. It is a company of the Daimler Financial Services Group, headquartered in Berlin, Germany, which does business in more than 40 countries with an employee base of approximately 6,700. Daimler Financial Services is one of the leading financial services organizations worldwide. For more information, go to: mbfs.com
About DealerTrack (www.dealertrack.com)
DealerTrack's intuitive and high-value software solutions enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, agents and aftermarket providers. Our solution set for dealers is the industry's most comprehensive. DealerTrack operates the industry's largest online credit application network, connecting more than 17,000 dealers with over 900 lenders. Our Dealer Management System (DMS) provides dealers with easy-to-use tools and real-time data access that will streamline any automotive business. Dealers using DealerTrack AAX get the inventory management tools and services needed to accelerate turns and increase profits. Our Sales and F&I solution enables dealers to streamline the entire sales process while structuring all types of deals from a single integrated platform. DealerTrack's Compliance solution helps dealers meet legal and regulatory requirements and protect their hard-earned assets. DealerTrack's family of companies also includes data and consulting services providers ALG and Chrome Systems. For more information, visit www.dealertrack.com.