e-contracting | Auto Finance News | Auto Finance News

Indiana CU rolls out e-contracting to increase marketshare

As credit unions are feeling the pressure of competition in auto finance, Forum Credit Union will adopt e-contracting for its 150 dealership partners by yearend to regain marketshare, Ben Wire, dealer division manager, told Auto Finance News.  The Fishers, Ind.-based credit union first piloted e-contracting with “a few” of its dealer partners last quarter, Wire said, […]

Compliance Complexities Lenders Should Know About E-Contracting

Recently, the auto finance sector has seen traditional paper consumer sales and financing documents replaced with electronic documents. Greater familiarity with electronic transactions, accessibility of simple, secure technology, and acceptance by capital markets may have each contributed to this trend. However, these transactions are still relatively new. What does this mean to lenders? Essentially, lenders […]

Citizens One Prioritizes Dealers and Digital Initiatives, President Says

Citizens One Auto Finance will adopt e-contracting by yearend, President Craig Lamp told Auto Finance News. “In the second half of the year, we want to deliver e-contracting [to our dealers],” Lamp said. The e-contracting push is one element of a broader strategy launched in June 2017, when Citizens refreshed its loan-origination system with an […]

Consumers, Dealers Seek Greater Transparency Through E-Contracting

Consumers and dealers alike increasingly prefer the transparency and fast funding that comes with e-contracting as lenders who offer the service scored “considerably higher” on the J.D. Power 2018 U.S. Dealer Financing Satisfaction Survey. Dealers scored captives 65 points higher on average while non-captives added 52 points to their overall score when e-contracting options were […]