SOUTHFIELD – Open Dealer Exchange, LLC, announced a partnership for integration with VW Credit, Inc., the captive finance company which provides financial products and services specifically to Volkswagen and Audi dealers and their customers throughout the U.S.
The partnership includes processing credit application and contract data within the dealer management system (DMS) as part of VCI’s FinanceSource™ dealer program. The FinanceSource program allows VCI and various dealer service providers (DSPs)—like ADP Dealer Services, Inc. and The Reynolds and Reynolds Company—to streamline the F&I process within the DMS to expedite application processing and ensure accurate and validated contracts.
“This integrated solution will help our dealers improve profitability and the overall sales experience by creating a more efficient and smooth funding process,” said David Wicks, Vice President of Sales and Marketing for VCI.
Successful pilot programs with Audi and Volkswagen dealers using ADP and Reynolds and Reynolds systems in California and Massachusetts have showed promising results. Full dealer rollouts will continue on a state-by-state basis over the next 24 months.
“Open Dealer Exchange is proud to partner with an industry leader like VCI to provide technology solutions that allow the dealer and lender to interact seamlessly within the DMS. There’s no need for their dealers to ever leave the DMS in the first place,” said Steve Luyckx, General Manager for Open Dealer Exchange.
“And, with our solutions, a dealer doesn’t have to worry about the integration costs associated with third-party portals that go outside their normal workflow.”
Open Dealer Exchange, founded in 2009 as a joint venture between ADP Dealer Services and Reynolds and Reynolds, integrates a finance source or F&I product provider directly within an auto dealership's DMS.
By eliminating the need for dealers to log into multiple systems or re-key data into various applications during a vehicle sale, this innovative process results in increased operational efficiencies, reduced contract errors and a more streamlined process with a lender or provider's franchised dealerships.
