"Finance Express is the best platform I've seen for integrating buy here pay here
and special finance together. It can be a total capital solution."
Kenneth B. Shilson, CPA
President, Subprime Analytics
Principle, Shilson, Goldberg, Cheung & Associates, LLP
Founder and President, National Alliance of Buy Here Pay Here Dealers
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ADP Dealer Services Announces Alliance with Finance Express
HOFFMAN ESTATES, IL, January 5, 2006 . In an effort to enhance
its forms management solutions for independent and non-franchised auto
retailer customers, the Dealer Services Group of Automatic Data
Processing, Inc. (NYSE: ADP) today announced an agreement with Finance
Express. The Finance Express offering will provide independent dealers
with a single, Web-based software system to handle dealership
requirements as related to the auto finance process. Finance Express
operates the first online auto finance platform specifically designed
for the independent dealer, and accelerates the dealer-to-lender
relationship. The Finance Express system helps fulfill many of the
lender's time consuming, expensive and risk-oriented tasks, so the
dealer can receive accurate answers quickly. One of the system's key
benefits is the electronic processing of funding. The dealer submits
loan documents to the lender and the lender approves or denies the
application through the system in "real time."
"There are many aspects to delivering a completely electronic F&I
solution for the management of forms and contracts. With Finance Express
we can safely deliver the management and transmission of these forms to
the lenders and third parties," said John Watson, vice president of
North American transaction products for ADP Dealer Services. "Built to
address both the practical demands of both independent dealer and
lender, Finance Express provides an easy interface that expedites the
loan application and approval process. Our solution also lets dealers
consider multiple lenders," said Dave Huber of Finance Express.
The Finance Express solution is part of a comprehensive package of
technology products and services that ADP delivers to the independent
dealer market. ADP also offers w.e.b.Suite1000, an affordable dealer
management solution; AutoCheck Express, a vehicle history report
service; and DealerCAP, a complete forms package developed with Keith
Whann, general counsel for the National Independent Dealers Association.
"With the Finance Express solution, ADP now offers the most
comprehensive array of technology services to the independent dealers,"
said Watson.
About ADP Dealer Services
ADP Dealer Services provides integrated computing solutions to nearly
25,500 auto, truck, motorcycle, marine and recreational vehicle dealers
throughout the United States, Canada, Europe, Africa, China, Asia and
the Middle East. ADP Dealer Services is the third largest business unit
of Automatic Data Processing, Inc. (NYSE: ADP). ADP, with $8.5 billion
in revenues and 550,000 clients worldwide, is one of the largest
providers of a broad range of premier mission-critical, cost-effective
transaction processing and information-based business solutions. More
information on ADP Dealer Services is available on the Internet at
http://www.dealersuite.com.
About Finance Express:
Finance Express provides financing programs for all levels of credit
through 40 national and regional lenders. It offers a full range of
services including credit application processing, credit bureau access,
inventory management, electronic contracting, dealer management tools
and licensed escrow services. It is a comprehensive program that
provides auto dealers with online access to lenders, credit bureaus and
a full range of dealer management services in a single seamless
solution. At the same time, through its fully licensed escrow company,
it provides auto lenders with a method of completing their transactions
safely and securely.
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