Press Release Summary:
Built as web service, PaymentDriver(TM) offers online finance payment calculation for automotive industry portals and websites. Consumers can generate monthly payments for specific vehicles based on current finance rates and residuals available from dealership's finance partners. Supporting integration with online vehicle research and inventory workflows, solution also lets retailers customize lender and rate choices to provide 24/7 access to best available rates and programs.
Original Press Release:
Chrome Systems Announces Online Vehicle Payment Calculation Service Linked to Current Rates and Residuals
Advanced Functionality Delivers Accurate Monthly Payments Based on Real-Time Access to the Most Current Finance Rates and Residuals
SAN FRANCISCO -- Chrome Systems, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK) and a leader in managing automotive data, today announced PaymentDriver(TM), a solution offering an online finance payment calculation service for automotive industry portals and websites. This solution, which will be on display at NADA 2011 in San Francisco (DealerTrack Booth #727S, Moscone Center), gives consumers the ability to generate accurate monthly payments for specific vehicles based on the most current finance rates and residuals available from a dealership's finance partners.
Built as a web service, PaymentDriver can be seamlessly integrated into online vehicle research and inventory workflows on portals, manufacturer and dealer websites as well as mobile applications. Retailers have the ability to customize lender and rate choices to provide round-the-clock access to the best available rates and programs.
"A monthly payment is the key to vehicle affordability rather than the MSRP price tag, and that calculation must be accurate," said Amit Maheshwari, general manager, DealerTrack Data Services. "We believe that PaymentDriver delivers a level of accuracy and breadth of lenders unparalleled in the industry since it is the only calculation solution leveraging up-to-date finance rates and residuals from hundreds of lending institutions."
According to Maheshwari, "PaymentDriver is a valuable addition to Chrome's solutions in the online vehicle research and purchasing space. Together with DealerTrack's newly released CreditOnline product, a new solution enabling a consumer to complete a credit application directly from a dealership's website, PaymentDriver can help deliver an engaging online financing experience that converts online consumers into highly qualified prospects."
About Chrome (www.chrome.com)
Chrome Systems, Inc., provides vehicle content, software, technology and services to deliver complete enterprise solutions to all segments of the automotive retail industry. Chrome pioneered the technology behind electronic vehicle configuration with the introduction of PC Carbook, and since 1986 has collected, analyzed and enhanced "raw" automotive data from all manufacturers.