Chrysler Financial Enhances Contract-Origination Process

Chrysler Financial is enhancing its automated contract-origination process called AutOrigination.

Billed as an industry first, the exclusive contract data-validation system edits more than 300 fields and guarantees a contract is valid at the point-of-sale, eliminating errors and associated customer issues.

It is now available through 12 dealer service providers covering nearly all Chrysler, Jeep and Dodge dealerships.

“Our 2008 goal is to ‘AutOriginate’ more than 90% of all contract volume and process 25% of that volume through eContracting,” says Kelly Mankin, Chrysler Financial's vice president-marketing.

He says Chrysler Financial is the only U.S. automotive lender to offer a data-verification system that can support both retail and lease transactions.

With eContract First, paperless technology for Chrysler Financial retail and lease transactions is now available in all 50 states through CF Connect. Dealers need to contact their dealer-relations manager to request a start up kit and initial in-dealership training.

“With the national rollout of this technology, F&I managers now have another industry-first, the ability to provide customers with their account number and first payment coupon at the point-of-sale,” says Mankin.

Chrysler Financial says it is the first U.S. automotive lender to receive electronic deal packages from several dealers using CF Connect eContracting and ADP's Digital Contracting solutions.

Chrysler Financial enables eSigning of the Retail Installment Contract or Lease Agreement while ADP facilitates electronic signatures for nearly all the remaining forms to create a complete, signed electronic deal.

“Thinking of customer satisfaction and the elimination of unnecessary paper processing, we developed two ways to quickly obtain the eContract package via ‘eFax’ or ADP's Digital contract solution,” says Mankin. “Reducing the time it takes to book an eContract increases dealer satisfaction, cash flow and most important, eliminates post delivery customer re-contracting.”