eContracting
Consumers want a fast and easy deal process. Lenders want reduced risk and lower expenses. And it’s a lot easier for you to operate with cash in the bank quickly. You’re getting pressure from all angles to move to eContracting and streamline your dealership contracting processes.
What if you could…
- Submit contracts for validation prior to signing and get a response from your lender without leaving your DMS?
- Receive a required forms list from your lender after contract validation?
- Sign deal documents electronically with both remote and in-store customers?
- Electronically send signed contracts and ancillary documents to your lender for same-day funding whether the deal was completed in-store or remotely?
- View comprehensive reporting on your F&I performance including contracts-in-transit?
Here’s How
The docuPAD® System
Signing paper contracts can be a tedious and error-prone process. When they are complete, they sit in a stack on your desk waiting for the next FedEx run. Once they go out, how often are your deals rejected due to missing signatures? Even when they are clean, it still takes days or even weeks to get funded. With the docuPAD system, contracts are completed quickly and accurately the first time and funded in hours.
- eContract deals without printing, scanning, and shredding.
- Ensure all documents are accurate, signed, and complete the first time.
- Reduce the time and cost of managing paper.
- Enjoy a clean and matching deal from F&I to accounting.
- Allow remote customers to sign forms electronically using docuPAD Remote.
DEALsign
Electronic signatures can be a hassle. You capture a signature to make it easy on the customer, but it only gets applied to a PDF and your bank won’t accept it as an eContract. You end up printing out the contract with the electronic signature applied and shipping it to the lender anyway.
DEALsign allows you and your customers to sign fundable electronic contracts in-person or remotely through a secure, self-guided process that ensures accuracy and compliance.
- Deliver a digital signing ceremony that is consistent in-store and remote.
- Eliminate missed signatures and initials with a digitally-guided signing process that ensures accuracy.
- Stay compliant with a comprehensive audit trail, including date and time stamps, IP addresses, recipients, and action logs.
- Turn customers into fans by offering flexible options.
- Get rid of paper, toner, storage, and shipping costs with electronic forms.
eContracting
Not only are paper deal documents expensive to print and inefficient to ship, they often contain inaccuracies that lead to lender rejection. While you scramble to make corrections, you’re still unfunded for a vehicle you sold days ago. With eContracting, you can ensure documents are lender-validated prior to signing and electronically submit finalized documents for faster funding.
- Find and fix contract errors immediately so customers don’t have to re-sign.
- Receive a required forms list from your lender after contract validation.
- Electronically send contracts signed on the docuPAD system or DEALsign to your lender for funding.
- Save on paper and shipping expenses.
- Improve cash flow with faster funding.
CIT Intel
Your dealership completes a high volume of deals each month. When they are sent off to your lenders, how do you keep tabs on their funding status? Manually monitoring deals-in-transit is time-consuming and negatively impacts your cash flow if you lose track of unfunded deals.
With CIT Intel, you can proactively track your contracts-in-transit for eContracted deals and gain insight into your dealership’s F&I performance.
- Reduce your CIT time and improve your cash flow with proactive tracking.
- Ensure accuracy with data that is constantly updated.
- Gain insight into F&I performance across stores, employees, and products with pre-built reports.
- Identify which lenders fund the fastest, and which F&I managers aren’t using those lenders.
What can you experience:
“eContracting lets us get paid quickly. Instead of being paid in a week, we can get a contract cashed in four hours or less. That helps the cash flow a lot.”
