Sonic Automotive Subscribes to RouteOne Compliance Products for Use in Sonic Dealerships
FARMINGTON HILLS, Mich., Nov. 10 /PRNewswire/ -- RouteOne announced today that Sonic Automotive, Inc. (NYSE: SAH), one of the largest automotive retailers in the United States, will subscribe all of its dealerships nationwide to RouteOne's identity verification and electronic document storage products. Sonic Automotive, Inc., a Fortune 300 company and member of the Russell 2000 Index, is among the largest automotive retailers in the United States. Sonic Automotive's dealerships provide comprehensive services, including sales of both new and used cars and light trucks, sales of replacement parts, performance of vehicle maintenance, warranty, paint and collision repair services, and arrangement of extended warranty contracts, financing and insurance for the company's customers.
Sonic will purchase for each of its dealerships a subscription to both IDOne, RouteOne's identity verification and authentication tool powered by TransUnion, and RouteOne SecureDocOne, RouteOne's electronic document storage tool powered by WorldView. Both tools will assist dealers with meeting FTC compliance requirements, and will allow for coverage of all Sonic dealers' captive (Chrysler Financial, Ford Credit, GMAC, and Toyota Financial Services) and non-captive business. These subscription tools will complement the free RouteOne compliance services already enjoyed by Sonic, such as Activity Alert, an email notification tool that informs dealers of potentially suspicious dealership activity, and Adverse Action management, allowing dealers to automatically generate and print Adverse Action notices to consumer applicants who have been denied credit when applying for vehicle financing or leasing.
"Sonic looks forward to employing these compliance tools across our dealerships to help maximize efficiencies and automate the manual activities embedded within our dealership compliance processes. Processing all our credit applications through a single platform that encompasses the tools necessary to conduct our business will allow us to spend more time focusing on vehicle sales and less time on administrative tasks," said Todd Weeks, National Director of Retail Lending, Sonic Automotive.
"We are extremely pleased to be selected by Sonic Automotive to provide its dealers the tools they need to address the compliance issues that affect them and their customers," said Mike Jurecki, RouteOne CEO. "And because all Sonic dealers utilize the RouteOne platform for virtually all of their credit applications, they can be sure that our compliance tools will cover the full scope of their business, ensuring that all applications are scanned, monitored and stored appropriately."
RouteOne was formed in 2002 by Chrysler Financial, Ford Motor Credit Company, GMAC, and Toyota Financial Services to create a more streamlined credit application for automobile dealers and their customers. Providing access to more than 21,500 dealers in North America, RouteOne's web-based system allows automotive dealers to submit credit applications to the largest indirect lenders, request credit reports, and increase profitability with RouteOne's free Dealer Reporting Suite. RouteOne's open integration business model also allows the dealer to integrate with their choice of a wide variety of best in class providers, including DSPs, CRM systems, F&I modules and menu providers. RouteOne offers dealers a common platform for all their credit application financing needs. More information is available at www.routeone.com.
ABOUT SONIC AUTOMOTIVE, INC.
Sonic Automotive, Inc., a Fortune 300 company based in Charlotte, N.C., is the nation's third-largest automotive retailer, operating 153 franchises. Sonic can be reached on the web at www.sonicautomotive.com.
CONTACT: Suzi Straffon RouteOne LLC 248.862.7074
SOURCE RouteOne LLC
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