MCLEAN, Va., Sept. 27, 2016 /PRNewswire/ -- XpressCredit — a leading provider of a patent-pending, web-based, indirect lending platform for independent automotive dealerships — has recently entered into an agreement with NADA Used Car Guide — the leading provider of used vehicle values — to accelerate the used vehicle sale and loan approval process.
The integration of NADA Used Car Guide's values into XpressCredit's BookOut product to its dealer and lender subscribers will greatly enhance the sale process, ultimately benefiting the customer. With the NADA Used Car Guide values enhancement, BookOut will allow dealers to save and obtain used car valuations and transmit vehicle valuations to lender subscribers as part of a credit application. It is a one-stop process which streamlines the use of several different tools into one software experience for dealers.
Mike Stanton, vice president and general manager of NADA Used Car Guide said, "We know the use of our accurate and trusted values will help dealerships close deals faster and with accuracy. With the integration of our values, dealers will no longer have to go outside of the XpressCredit platform to include critical used vehicle price information for lender approval."
According to XpressCredit's managing partner, Patricia Reinhold, "With the inclusion of NADA Used Car Guide Values into our BookOut product, everybody wins. Customers will spend less time running through the loan approval process and dealers will not waste any time booking out vehicles. This is a true winner."
Founded in 2005, XpressCredit is a leading provider of a web-based, indirect lending platform. Its patent-pending software solution links lenders with independent auto dealers nationwide. The company's software provides lenders the ability to decision credit and communicate via a secure internet link to the dealer.
About NADA Used Car Guide, a division of J.D. Power
Since 1933, NADA Used Car Guide® has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the U.S. and worldwide. Its editorial team collects and analyzes over 1 million combined automotive and truck wholesale and retail transactions per month. Its guidebooks, auction data, analysis and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. NADA Used Car Guide® and its logo are registered trademarks of National Automobile Dealers Association, used under license by J.D. Power.
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SOURCE NADA Used Car Guide