A new way to buy Internet leads gives dealers more choice and control over the leads they purchase.

DealerTrack is partnering with LeadPoint, billed as the world's first and largest online leads exchange, to provide a novel bid-based leads program for automotive retailers.

Called The Leads Network, it is a lead exchange program that allows auto dealers to bid on leads based on customized filters they have set up based on location, credit status and vehicle make and model.

Dealers can determine how much they are willing to bid on each lead while setting daily or monthly spending limits.

Dealers are able to track the leads using DealerTrack’s lead management tool. Dealers also can submit credit applications created from the leads to lenders without having to reenter the customer data. “We believe the DealerTrack Leads Network has the potential to fundamentally change how leads are purchased in the automotive industry, enhancing efficiency and profitability for our dealer customers," Mark O'Neil, DealerTrack’s chairman and chief executive officer says.