Automotive Credit Corporation Announces Agreement with Open Dealer Exchange for Credit Application Integration

Automotive Credit Corporation has announced its agreement with Open Dealer Exchange, LLC for credit application integration during the vehicle finance process directly from the dealership's dealer management system.

TROY, MI June 2, 2010 -- Automotive Credit Corporation (ACC) has announced its agreement with Open Dealer Exchange, LLC to provide a direct connection from a franchised dealership's dealer management system (DMS) to ACC’s loan origination system.

With the newly formed relationship, dealerships can now send credit application data to ACC and view credit decisions directly from their DMS. The process is completely streamlined within the dealers’ workflow and eliminates the need to leave their system-of-record during the credit approval process.

"The integration through Open Dealer Exchange will reduce costs and improve efficiencies on both ends of the lending process," stated John Cavanaugh, Chief Financial Officer for Automotive Credit Corporation. "A dealer will save time and effort which directly results in reduced customer wait-times and an increase in satisfaction during the vehicle buying process in the dealership."

Open Dealer Exchange provides lenders the ability to lower costs and increase speed to market by offering a one-stop, standards-based integration into a dealership's DMS."

"The key to our business model is complete integration between a finance source and a dealership at the DMS level," says Marty Zwolan, Vice President of Sales and Marketing for Open Dealer Exchange.

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About Automotive Credit Corporation

Founded in 1992, Automotive Credit Corporation has partnerships with hundreds of auto dealers throughout the United States, from the publically traded dealer groups to stand alone franchise and independent stores. Automotive Credit Corporation provides financing to dealer partners for consumers with limited access to traditional sources of consumer credit.

For more information on Automotive Credit Corporation, please visit www.automotivecredit.com.

About Open Dealer Exchange, LLC

A joint venture between ADP Dealer Services, Inc. and The Reynolds and Reynolds Company, Open Dealer Exchange is a technology leader within the automotive F&I process for connecting lenders and F&I product providers with their dealer partners throughout the United States and Canada. By providing a direct connection into the dealership's main network — the DMS — Open Dealer Exchange virtually removes the need for the dealer to leave their system-of-record during the F&I process. This innovative process results in increased operational efficiencies, reduced contract errors, and a more streamlined process with a lender or provider's franchised dealerships. For more information on Open Dealer Exchange and its divisions, please visit www.opendealerexchange.com.