Dealertrack Canada has launched a branded finance tool for Kia Canada’s 189 stores.
The Centric Finance Portal works with Kia to operate in real-time and provide dealerships with information regarding new vehicle inventory, incentives, aftermarket products and accessories and certified pre-owned data so stores can be more effective in their markets.
Kia dealers that finance deals through Dealertrack’s network can submit credit applications through the portal. Dealertrack Canada also has built a branded portal for Hyundai stores, and it is exploring other possibilities.
The portal is completely separate from Dealertrack’s dealer management system; so far, it has a 50 per cent adoption rate.
“It’s an integration where we receive data from Kia’s system, and then we present that information to dealers to support the finance transaction,” Richard Evans, DealerTrack Canada’s vice-president, told Automotive News. “We get from them a feed we’re able to map back into the credit application process and present that information at the right time for dealers.”
Evans said Kia will get data back from the portal as well that will allow it to better understand market demands.
The real-time nature of the portal aims to speed up the transaction process and make buying a vehicle more convenient for consumers. In the past, Evans said the transaction process could be slowed because dealers would have to look up information from deal sheets.
Evans said: “At the point of purchase when a dealer is in the finance office transacting with the customer, it’s critical to have real-time information embedded in the transaction.”