Dealertrack and BMW Announce Partnership
Cox Automotive Canada partners with BMW Group Financial Services Canada to include BMW, MINI, Motorrad, and Rolls-Royce brands onto the Dealertrack Credit Application Network.
Cox Automotive Canada and BMW Group Financial Services Canada have announced a new strategic alliance that will include the BMW brand on the Dealertrack portal as a new client. The collaboration connects the broad expertise that Dealertrack provides during the vehicle funding process to the strength of parent company Cox Automotive.
“BMW Group Canada can rest assured that they are partnering with an organization that is committed to our industry and to supporting the growth of their business,” said Cox Automotive Canada President, Maria Soklis. “Our technology is set to reinvent the way dealers operate in ways we’ve not seen before, that will help to keep them relevant and sustainable into the future, in particular as we move through a period of transformation.”
Simultaneously, this partnership will give BMW Group Canada Retailers a chance to experience the new Digital Contracting workflow capabilities. It will further allow them to use the Dealertrack’s network and Lender Portal to modernize the buying experience for both customers and the dealer facilitating the transaction while streamlining the end-to-end funding process.
As data is pulled from a single source, all documents will be available before funding. Dealertrack delivers OEM aftermarket products, residual accessories handling, rebates and incentives support, and comprehensive reports (such as credit validation before a credit, or contracting validation before funding).
BMW Group Canada Retailers will also benefit through:
- An integrated partner network;
- A mobile application for retailers and Lender Field Sales staff to track applications;
- Existing Dealer Management System Integrations;
- VIN level vehicle validation to ensure consistency and accuracy;
- The ability for the system to automatically track required documents; and
- Ensuring dealers are always in sync with the applications and delivering 100% full transparency in the validation process.
“Our greatest ambition is to make it easier for our Retailers to work with us,” said Carola Erlewein, President and CEO, BMW Group Financial Services Canada. “Harnessing Dealertrack helps us in that endeavour. With a more streamlined structure that houses our policies and guidelines under one roof, Dealertrack promises a smoother, more straightforward process. This, in turn, ensures greater security and compliance at every step of the way, making both the retailer and customer’s experience more positive.”