The streamlining of financing is happening in the subprime space, too.
RouteOne announced on Monday that Exeter Finance is now an available eContracting finance source for dealers utilizing the RouteOne platform. Officials reiterated eContracting can enable the digital exchange of critical contract documents and data between dealers and finance sources to increase efficiency and reduce contracts in transit.
RouteOne is one of the industry leaders in eContracting, booking more than 8.2 million eContracts to date. RouteOne has more than 6,600 active eContracting dealers that have access to more than 40 finance sources to deliver a variety of financing options. The availability of these finance sources has led to notable growth in RouteOne’s non-captive eContracting share which has more than doubled every year since 2014.
“As eContracting becomes the standard, and not the exception when financing a vehicle, RouteOne’s goal is to make this service available for all financing scenarios,” said Jeff Belanger, RouteOne’s senior vice president of business development. “The demand from dealers is present and we anticipate our integration with Exeter Finance will continue to accelerate eContracting growth.”
Exeter Finance offers personalized service and flexible financing options for credit challenged customers through thousands of franchised dealers nationwide.
“At Exeter, we are continually looking for ways to enhance our dealer experience,” said Brad Martin, Chief Operating Officer at Exeter Finance. “With the addition of eContracting, our dealers should see a decrease in returned contracts and faster funding times.”