Integrated Tool Helps Streamline the Consumer Automobile Purchasing Process
HOFFMAN ESTATES, IL – January 28, 2015 – CDK Global, Inc. ("CDK Global" or “CDK”) (Nasdaq: CDK) announced today that their Contract Validation solution will be released later this year to Fiat Chrysler Automobiles (FCA) dealerships in the U.S. During the vehicle buying process, the CDK Contract Validation solution quickly checks a vehicle purchase contract for accuracy and acceptability by Chrysler Capital. Contract Validation does this within the Sales workflow - while the customer is still engaged in the buying process and prior to the contract being reviewed by the financial institution.
Santander Consumer USA Holdings Inc. (“SCUSA”) through Chrysler Capital, its full-service finance provider for FCA, noted that all Chrysler/Dodge/Ram/Jeep/Fiat/Alfa Romeo dealerships utilizing a CDK Global Dealer Management System (DMS) in the U.S. will be eligible to use Contract Validation.
“Our technology is developed to make the car buying process more efficient for our dealership clients and their customers” said Steve Anenen, President and CEO of CDK Global, “We’re pleased to be the partner that brings this to FCA dealerships.”
CDK has worked with other manufacturers’ captive finance organizations, including Volkswagen, Mercedes-Benz and BMW, to launch similar versions of Contract Validation. The FCA solution will be shown at the NADA Convention in January in combination with a new integration point (Incentive Configuration Validation) to all U.S.-based CDK Drive and w.e.b.Suite dealers.
According to Tom Dundon, chairman and CEO of SCUSA/Chrysler Capital, “Finance and lease agreements can be complex. Nothing is more aggravating to a consumer or dealer than having to go back to the dealership to re-sign a contract. In working with CDK and their jointly-owned financial development organization, Open Dealer Exchange, we have designed a best-in-class approach to assisting our dealers with ensuring the accuracy of contracts prior to them being sent to our team for acceptance.”
Dealerships using the CDK Drive or w.e.b.Suite DMS platforms will be able to quickly and easily validate contracts from within their normal workflow, allowing them to streamline the car-buying process and give customers a better experience.
Chrysler Capital will be assisting in the roll out by providing benefits to dealers who subscribe to the new offering, such as faster contract funding through a flash-funding process for deals that have had the Contract Validation process applied.
About CDK Global
With nearly $2 billion in revenues, CDK GlobalTM is the largest global provider of integrated information technology and digital marketing solutions to the automotive retail industry and adjacencies. CDK Global provides solutions in more than 100 countries around the world, serving more than 26,000 retail locations and most automotive manufacturers. CDK Global’s solutions automate and integrate critical workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles, with an increasing focus on utilizing data analytics and predictive intelligence. Visit cdkglobal.com.
About Santander Consumer USA Holdings Inc./Chrysler Capital
Santander Consumer USA Holdings Inc. (NYSE: SC) is a full-service, technology-driven consumer finance company focused on vehicle finance and unsecured consumer lending products. The company, which began originating retail installment contracts in 1997, has a serviced portfolio of more than $40 billion (as of September 30, 2014), has more than two million customers across all credit grades, and is headquartered in Dallas.
About Open Dealer Exchange
Founded in January 2009, the company is a joint venture between CDK Global™, formerly ADP Dealer Services, Inc., the largest global provider of integrated information technology and digital marketing solutions to over 26,000 retail locations and manufacturers in over 100 countries around the world, and The Reynolds and Reynolds Company, a leading provider of integrated solutions that help automotive retailers manage change and improve their profitability.
As an open platform, Open Dealer Exchange can deliver integration and related services to all dealer system providers and finance sources that serve automobile and truck retailers, power sports and recreational vehicles.