Replies to This Discussion

Permalink Reply by Elise Negrin on September 15, 2008 at 9:14pm

I'm about to use Route One in conjunction with XpressCredit.net. Will advise you further of my humble opinion. So far, I am not in love with DealerTrack.

Permalink Reply by Brian Hiatt on September 23, 2008 at 10:44am

I and my 7 finance managers use both and they both work very well. From and administrative point they both are easy to administer and manger users and security. As to submitting applications they both are very reliable and have good effective user interfaces.
wish I could help you more with one or the other.

Permalink Reply by Scott Winter on September 25, 2008 at 2:34am

Our credit union currently uses Dealer Track however we are exploring Route One and CUDL. Here is my humble opinion:

In our region, DT seems to be losing market share with franchise dealers and trying to make up for it by getting more independents signed up. We have been trying to test auto-approvals through DT but cannot get it to work. The other day they sent us an erroneous message that one of my larger dealers went out of business. The message stated that this closure was confirmed. They were also less than receptive when I visited their NADA booth (guess they don't need lenders). Fairly expensive and no reports available at my level.

I don't have much experience with Route One. Many Toyota dealers in our area are on Route One but not DT (and who doesn't want Toyota deals these days?). Switching to RO would give us access to those dealers but we run the risk of alienating our supportive dealer base that is currently on DT. I believe they are less expensive than DT and from they demo I viewed, their reporting seems good.

I am a big fan of CUDL. It is web based so I can work anywhere, anytime. Reports are great. Blanket dealer agreement. CUDL reps in the field give me an extra set of eyes and ears. Most of their management has credit union backgrounds so they may not understand the dealership world as well as others. Expensive and dealers only have access to credit unions.

We still capture a majority of our deals the old-fashioned way: faxing and having an underwriter in the field a couple of days a week. Our dealers love it! Plus, as a lender, there is no substitute for being able to review an entire deal package before we book it (you wont see that extra credit app thats in the deal jacket on any lending platform)