DealerTrack Expands e-ContractingSecuritizations

Register now

LAKE SUCCESS, N.Y. - (11/08/05) -- DealerTrack Inc. said last week thatNissan Motors Acceptance Corp. has securitized $8 million ofelectronic vehicle contracts originated and stored on the company'seContracting system, marking the first time that electroniccontracts were included in an automotive securitization on a widebasis. DealerTrack's eContracting is integrated with the company'sonline credit application processing and enables car dealers tosubmit retail sales contracts electronically to credit unions andbanks. With eContracts, the consumer receives a paper copy of thecontract, but the legal copy of the sale remains in electronicformat and is stored with DealerTrack or the lender.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER