Cox Automotive Canada and BMW Group Financial Services Canada have announced a strategic alliance that will see BMW Group retailers (BWM, MINI, Motorrad and Rolls-Royce brands) benefit from the Dealertrack Credit Application Network.
The company said this will ensure a more streamlined buying experience for both the customer and the dealer facilitating the transaction. The recent partnership also positions BMW Group retailers as the first to experience Dealertrack’s Digital Contracting workflow, which helps provide a fast and efficient end-to-end funding 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.”
It also ensures better security and compliance at every step of the way, said Erlewein, “making both the retailer and customer experience more positive.”
BMW Group Canada retailers are expected to benefit from a range of capabilities, including an integrated partner network, a mobile application for retailers and Lender Field Sales staff to track applications, and Existing Dealer Management System integrations. VIN-level vehicle validation also helps to ensure consistency and accuracy.
“Cox Automotive, a subsidiary of 120-year-old Cox Enterprises, Inc. has through its brands, has been serving the automotive industry since 1926,” 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.”
