Dealertrack’s new partnership with Darwin Automotive, a digital retailing and analytics company focused on F&I products, will allow dealerships to map sales processes and increase revenue through financed aftermarket products, Cheryl Miller, senior vice president and general manager of Dealertrack’s F&I Solutions, told Auto Finance News.
Darwin’s platform uses big data to personalize the sale of ancillary products to consumers in the back office through menu presentations to prospective consumers, Miller said. It will also increase transparency by displaying how consumers’ choices affect down payment requirements, loan terms and monthly payment amounts. Darwin currently works with over 5,000 dealerships, according to the company’s website.
“We want to really listen to what our dealers are asking for,” Miller said, noting that transparency and the amount of time consumers spend at the dealership continue to be major pain points for the industry.
In fact, Dealertrack unveiled numerous updates to its workflow to address these issues, Miller said, including new integration with its customer relationship management (CRM) technology, allowing dealers to push completed credit applications directly from their CRM to Dealertrack. In addition, Dealertrack has partnered with StoneEagle F&I, which provides analytics data on performance and profits across all aspects of dealer operations.
Dealertrack works with over 22,000 dealerships and has 1,600 lenders on its platform.
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