Two new-concept finance & insurance exhibitors report high dealer interest as they appeared for the first time at a National Automobile Dealers Assn. annual convention and exposition.
They are RouteOne LLC, a one-system Internet clearinghouse for all of a dealer's loan applications and ExpressLink, a provider of point-of-sale vehicle insurance.
At this year's convention in Las Vegas, RouteOne staged its first exhibition floor booth presence and also distributed brochures at display areas of its four co-owners —Acceptance Corp., Credit, DaimlerChrysler Financial Services and Financial.
RouteOne, headed by formerCredit operations chief Michael D. Jurecki, is emerging from an extended pilot of its Internet software at 32 dealerships prior to a nationwide rollout.
On the eve of RouteOne'sdebut, another exhibitor, Inc. filed a patent infringement suit against it. Jurecki calls the suit “without merit” and announces that still another exhibitor, subprime specialist Centrix Financial, has joined the RouteOne portfolio.
ExpressLink is tackling the vehicle-insurance field directly as an F&I business opportunity. Licensed in five states, it wants to facilitate contacts with F&I managers so that uninsured motorists or those seeking lower premiums can be sold vehicle insurance along with other F&I products.
To date, only Ford Credit andFinancial Services have promoted F&I departments for arranging vehicle insurance, using Liberty Mutual as the insurer.