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DealerTrack Enhances Compliance Solution with Industry-Leading Adverse Action Functionality

^{Published on 2009-01-24 09:43:07, Last Modified on 2009-01-24 09:44:28 - Market Wire}
 

LAKE SUCCESS, N.Y.--([ BUSINESS WIRE ])--DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced that it has enhanced the DealerTrack Compliance Solution to make it easier for dealers to automate their adverse action notice communications. As required by federal law, dealers must send adverse action notices to consumers who seek dealer assisted financing and are denied credit.

All dealers on the DealerTrack platform are now able to take advantage of the new Adverse Action Manager, which automatically identifies which customers may require adverse action communications through its robust rules engine. It provides a centralized view of these customers, allowing for easy processing of required notices. In addition, subscribers to the DealerTrack Compliance Solution can take advantage of the following powerful tools:

• New automated mailing services*
• Ability to customize adverse action notices
• Ability to generate and print notices in "batches"

"These enhancements continue to build on our commitment to provide dealers with a complete compliance solution," said Raj Sundaram, senior vice president, solutions and services group at DealerTrack. "The tool also includes the industry's first fully-automated mailing service and reporting capability, taking the burden of mailing and tracking off of the dealer."

DealerTrack also has enhanced its eMenu F&I product selling solution with the integration of a financial reporting tool that enables dealers to create customized reports. These reports will allow them to quickly analyze revenue and profit trends. The new functionality allows users to generate reports on revenue and profit performance by deal, product, employee or store, and can create side-by-side user and product comparisons with charts and graphs for trend analysis. This flexible reporting tool also supports reporting management for dealer groups with multiple locations.

"With this enhancement, eMenu becomes an even more powerful platform," said Sundaram. "The new reporting functionality will help dealers gain valuable insights into their sales process that can be leveraged to increase profits and F&I product sales. eMenu is a key component of our overall Compliance Solution, enabling dealers to present F&I product options fully and consistently to all customers, and to capture and store their signatures electronically."

The DealerTrack Compliance Solution is the industry's most comprehensive suite of compliance tools, allowing dealers to work deals electronically from end-to-end on one fully integrated and secure platform. DealerTrack also continues to provide a variety of training and educational resources, including its Red Flags Identity Theft Prevention Program, the industry's only compliance website ([ www.thecomplianceguide.com ]), and a series of compliance "best practice" webinars. In addition, DealerTrack has just published its 2009 "Compliance Guide," which is available free to dealers.

*Available in Spring 2009

About DealerTrack ([ www.dealertrack.com ])

DealerTrack Holdings, Inc. (Nasdaq: TRAK) is a leading provider of on-demand software and data solutions for the U.S. automotive retail industry. Our solutions enable dealers to receive consumer leads, submit credit applications, compare financing and leasing options, sell insurance, vehicle accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the DealerTrack DMS (dealer management system) is used by dealerships nationwide. Over 20,000 dealers, 730 financing sources, and many other service and information providers are active in the DealerTrack network. For more information, visit [ www.dealertrack.com ].

Safe Harbor for Forward-Looking and Cautionary Statements

Statements in this press release regarding DealerTrack, the benefits of our products and services, and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

Factors that might cause such a difference include: increased competitive pressure from other industry participants, the inability to execute any element of DealerTrack's business strategy, including the retention of dealers and aftermarket providers; selling additional products and services to existing and new customers; success in expanding our customer base and product and service offerings and integrating acquisitions; and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2007. These filings can be found on DealerTrack's website at [ www.dealertrack.com ] and the SEC's website at [ www.sec.gov ]. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.

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