Ally Financial Inc. will now offer full e-contracting capabilities to its dealer partners through RouteOne’s indirect auto financing platform, the companies said today.
“E-contracting provides a variety of benefits to our dealers and streamlines the transaction for the consumer,” Tim Russi, president of auto finance at Ally said a press release. “Ally continues to invest in our technology to provide dealers the tools for faster funding and increased customer satisfaction.”
Specifically, RouteOne’s e-contracting provides compliance auditing throughout the entire contracting life-cycle and signing process that can be done using signature pads, tablets, or “nearly any touch-screen device.”
The company’s e-contracting volume more than doubled in 2014, according to the release, and expects to be on target to exceed 4.5 million e-contracts booked since the company was founded. RouteOne attributes that growth to “strong participation by finance sources,” and a growing roster of more than 5,000 dealers with coverage in all 50 states.
““We are pleased to have Ally become part of eContracting on RouteOne,” RouteOne Chief Executive Mike Jurecki said in the release. “The availability of leading financial sources, like Ally, further drives the adoption of eContracting by dealers, and enhances the entire vehicle purchasing journey for all parties involved: dealers, finance sources, and customers.”
In October, Los Angeles-based Westlake Financial Services announced it would be offering e-contracting to its dealer base nationwide through RouteOne as well.
““For Westlake, RouteOne e-contracting is all about providing faster funding to our dealers,” Ian Anderson, Group President of Westlake Financial Services said in a release at the time. “We’ve always been about auto-decisioning, and we see this as a step toward auto-originations.”
RouteOne was formed in 2002 by Ally, Ford Motor Credit Company, TD Auto Finance, and Toyota Financial Services. The company’s flagship products include credit applications, e-contracting, compliance, and online and mobile retail services, according to the release.