RouteOne has served as an industry leader in the online credit application management space, helping automotive dealers and finance sources to enjoy a faster, more efficient credit application process. The services that RouteOne provides have helped automotive dealerships sell more vehicles and have also provided finance sources a channel to grow their business. RouteOne continues to build upon the list of active finance sources on the platform.
Many used car dealers have also taken advantage of the tools available on RouteOne. RouteOne is currently growing its lender base within the used car niche. The combination of a strong used car market and a large number of participating finance sources makes RouteOne an excellent platform for both franchised and used car dealers.
RouteOne offers a host of useful features to its finance sources, all of which enhance the dealer user experience:
- eContracting
- Rates and Forms
- Reporting Suite
- Payoff Quotes
- Dealer Reserve Reports
- Vehicle Values
- Text Messaging
- Contract Status
- Deal Refresh
Using these tools enables a truly integrated process between the dealer and finance source, while maximizing customer satisfaction.
If you are a finance source interested in participating on the RouteOne platform or a dealer interested in viewing existing active finance sources on RouteOne, please click the appropriate button below and complete the form as directed.
Many finance departments maintain a Finance and Insurance (F&I) Log. The F&I Log can serve as a high-level ‘score card’ for finance managers, as it stores important information about each vehicle transaction. The most common categories in an F&I Log can include:
- Sales Gross per unit
- Finance Reserve per unit
- Life Insurance
- Disability Insurance
- GAP
- Service Contract
- Other Aftermarket Products
- New/Used
- Cash
- Lender
Maintaining an accurate F&I log is helpful when auditing pay plans, reviewing lender performance, and reviewing performance with F&I trainers.
Preferences for storage of these logs vary – some are kept on paper, in an Excel worksheet, within a web-based system or within the dealership’s DMS. If your dealership utilizes RouteOne and the DMS integration we offer, you can enjoy automated data population of your F&I Log, as the system will populate this report directly from accounting on all finalized deals. The automated F&I Log and Performance Report provides insight into a dealership’s profit (average profit per contract and profit per vehicle retailed) and penetration for each F&I Department, F&I product, F&I Manager, and/or salesperson. Dealers may compare segment performance between new/used/car/truck or retail/lease/balloon/payment call.
A free manual utility is provided for those dealers not utilizing DMS integration. Try using the F&I log within RouteOne to keep score of your Finance Department.
By Ariel Pugliese
Prior to joining RouteOne, I worked in the captive finance industry as a dealer credit analyst, also as a retail credit buyer and then as a sales representative. As a result, I understand the importance of establishing productive relationships with your dealership’s finance source partners.
Currently RouteOne is integrated with more than 550 finance sources, with nearly 100 more in the pipeline. A great number of these finance sources serve dealerships in my territory, which includes Illinois and the southern portion of Wisconsin. However, we always want to hear from our dealers about finance sources that may not yet be integrated to our platform. Call those finance sources and encourage them to be where their dealers are – RouteOne! Or contact RouteOne Customer Support as well, at 866.933.0663 or customersupport@routeone.com. We’ll do our part to get them engaged, but your feedback really helps to expedite the process.
For a complete list of our integrated finance sources, click here.
Ariel is the Chicago/Milwaukee Business Development Manager for RouteOne. His territory includes Illinois and southern Wisconsin. He can be reached at 248.890.2430 or apugliese@routeone.com.
We all know that consumer credit plays a critical role in the auto sales business. Running a credit report as soon as possible on potential customers allows you to quickly assess the type of financing you will need to obtain for the customer, saving you time and energy later on.
We also know that the credit application and credit reports go hand in hand – that’s why RouteOne offers you the ability to run a bureau directly from within the credit application on our platform. You can enter the bureau information first, before starting the app, and that information will pre-populate a credit application for that consumer, eliminating duplicate entry and increasing your selling time. Or, enter the app first and then run the report – the credit report request will be automatically populated with the customer data. It’s a win-win!
Additionally, when you run bureaus within RouteOne, credit score disclosure and/or adverse action notices will be pre-populated with that customer data – saving you valuable time and eliminating the risk for errors.
And imagine this – you meet a customer on the lot but sense he’s not yet committed to sitting down and running numbers, much less purchasing a vehicle. No problem! You can pull reports through your mobile devices such as the Android, iPhone, and iPad. Collect that customer’s information and run their credit report in the palm of your hand – no need for office time or lengthy paperwork – more time saved!
It doesn’t matter, either, which bureaus you are affiliated with - you can access virtually any credit bureau source through RouteOne by obtaining dealership account credentials, or codes, from your credit bureau service provider. You can then enter the codes into RouteOne and begin running bureaus immediately!
When you run bureaus through RouteOne, you can process and store the reports AND applications within the same system, which is not only efficient – it’s smart. We’re integrated with ADPs Credit Check and other resellers. We also provide access to the three credit reporting agencies – Equifax, Experian, and TransUnion. And credit reports are stored for 60 days within RouteOne – even longer if you’re a subscriber to our electronic document storage tool, SecureDocOne.
Get started today. Visit our website to learn more here, or contact the RouteOne Customer Support team at 866.933.0663 for more information. Thank you for your business!