Mercedes-Benz Financial Services Announces Use of DealerTrack for Credit Application Processing at Mercedes-Benz U.S. Dealerships

FARMINGTON HILLS, Mich. and LAKE SUCCESS, N.Y., Feb. 1, 2012 /PRNewswire/ -- Mercedes-Benz Financial Services USA LLC and DealerTrack (Nasdaq: TRAK)  today announced that MBFS will become a lender on the DealerTrack credit application network used by 350 Mercedes-Benz dealers in the United States, beginning in March.

(Logo: http://photos.prnewswire.com/prnh/20101028/DEALERTRACKLOGO )

Today's announcement builds upon the relationship established in early 2011 when DealerTrack's Aftermarket network was chosen as the technology platform supporting the sales of Mercedes-Benz Financial Services' exclusive line of vehicle protection products sold by Mercedes-Benz dealers.  

The DealerTrack credit application network allows dealers to electronically submit credit application data to the industry's most diverse network of banks, independent finance companies, captives, and credit unions. The DealerTrack credit application network, which has grown from five lenders in 2001 to more than 1,100 lenders today, continues to expand and remains the automotive retail market's largest finance network.  

"DealerTrack is positioned to support Mercedes-Benz Financial Services' leadership role as the primary lender of choice for Mercedes-Benz dealers across the United States," said Dietmar Exler, vice president, Mercedes-Benz Financial Services.

"Mercedes-Benz dealers will now experience a more efficient and integrated F&I workflow that leverages our aftermarket and industry-leading credit application networks, all while connecting with their captive lender," said Robert Granados, vice president and general manager, Sales and F&I Solutions, DealerTrack. "This partnership shows how the DealerTrack network and solutions can be an integral part of a total end-to-end workflow for dealers nationwide."

In addition to its credit application and aftermarket networks, DealerTrack will be demonstrating its new mobile apps for its credit application network and for vehicle inventory management and merchandising, as well as its DMS offering and popular Compliance solution, in the DealerTrack Booth (#1751) at the upcoming NADA Convention and Expo, in Las Vegas, February 4th – 6th, 2012.

About Mercedes-Benz Financial Services USA LLC

Mercedes-Benz Financial Services USA LLC, headquartered in Farmington Hills, Mich., with Business Center Operations in Fort Worth, Texas, provides brand-specific financial services and products for Mercedes-Benz automotive dealers and their retail customers. It also provides financial support to Sprinter and smart USA dealers and customers.

In the U.S. trucking industry, it conducts business as Daimler Truck Financial and finances Daimler Trucks North America commercial vehicles branded Freightliner, Western Star and Thomas-Built Buses. Mercedes-Benz Financial Services USA LLC serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,500 employees. It is a company of the Daimler Financial Services Group, headquartered in Berlin, Germany, which does business in 39 countries with an employee base of approximately 6,700. Daimler Financial Services is one of the leading financial services organizations worldwide.  For more information, go to: www.mbfs.com/corp or facebook.com/mbfsamericas.

About DealerTrack (www.dealertrack.com)

DealerTrack's intuitive and high-value software solutions and services enhance efficiency and profitability for all major segments of the retail automotive industry, including dealers, lenders, OEMs, agents and aftermarket providers.  DealerTrack, whose solution set for dealers is the industry's most comprehensive, operates the largest online credit application network in the United States, connecting over 17,000 dealers with more than 1,100 lenders.  DealerTrack's Dealer Management System (DMS) provides dealers with easy-to-use tools and real-time data access to enhance their efficiency.  DealerTrack's Inventory offerings provide vehicle inventory management and merchandising solutions to help dealers drive higher in-store and online traffic with state-of-the-art, real-time listings — leading to accelerated used-vehicle turn rates and higher dealer profits.  DealerTrack's Sales and F&I solutions allow dealers to streamline the entire sales process as they structure deals from a single integrated platform.  Its Compliance offering helps dealers meet legal and regulatory requirements, and protect their assets.  DealerTrack also offers additional solutions for the automotive industry, including electronic motor vehicle registration and titling applications, paper title storage, and digital document services. For more information visit: www.dealertrack.com.

Safe Harbor for Forward-Looking and Cautionary Statements

Statements in this press release regarding the benefits of Mercedes-Benz Financial Services joining the DealerTrack credit application network , any conclusions or statements based thereon, and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995).  These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

Factors that might cause such a difference include the utilization of Mercedes-Benz dealers of the DealerTrack network, the integration between the DealerTrack network and Mercedes-Benz Financial Services' network and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2010. These filings can be found on DealerTrack's website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.

TRAK-G

SOURCE DealerTrack

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED