RouteOne's Dealer Advisory Board provides ongoing
guidance to ensure that RouteOne
continues to meet dealers' needs.
The passage of this
bill ends a long-running battle
with the trial lawyers who supported vicarious
liability and brings New York in line with the other
49 states which have
already eliminated it.vipp assessed
The elimination of vicarious liability has long been
an initiative
of the Greater New York Automobile Dealers Association (GNYADA), and is
expected
to bring automakers back into the business of leasing vehicles in New
York. Its members generate
more than
$1.purchases loans
RouteOne Enters 2005 With 14 000 Dealers Enrolled On System
DaimlerChrysler Services
,
Ford Motor Credit, General Motors Acceptance Corporation, and Toyota Financial
Services followed
a geographic rollout strategy to introduce their dealers to
the system, starting in the southeastern
United States.
"I am pleased with this bill, which results in repealing lessor vicarious
liability
in New York," said Schienberg.franchised satisfies
loans gap
FARMINGTON HILLS, Mich. "Dealer
adoption has been rapid throughout
the country, and more and more finance
sources continue to recognize the benefits of participating
on our system."
Product Features
RouteOne allows dealers to submit credit applications
to and receive
decisions from multiple finance sources, all from a single desktop.2 billion for state
and local governments and employ (directly and
indirectly) approximately 54,000 individuals in metro
New York.assessed satisfies
lenders banc
About RouteOne
Established in April 2002, RouteOne LLC is a joint venture
formed by
DaimlerChrysler Services, Ford Motor Credit Company, General Motors Acceptance
Corporation
, and Toyota Financial Services to improve the credit application
process for automobile dealers,
their customers, and participating finance
sources."
Vicarious liability is a legal concept
that holds a leasing company liable
for the actions of the driver of a leased vehicle.THIS CATEGORY
ISFOR LENDERS ONLY
May/2002
Sites published in this category must be for companies that originate
prime auto loans DIRECTLY to consumers.
This category is NOT for sites that generate loan applications
to lenders or other thitrd party entities.
loans originate
RouteOne will provide dealers seamless integration
with their Dealer
Management Systems, eliminating the need to re-enter deal information.gap borrowing
"The anticipated
signing of this
Bill means that all New Yorkers will be able to again lease vehicles.loans titan
RouteOne
is an open system, available to new vehicle franchised and
independent (used) vehicle dealers.lender titan
loan pnc
,
RouteOne LLC announced
today that 14,000 dealers are now enrolled with the joint venture. Enrollment
numbers
are expected to exceed 16,500 by the end of the first quarter of 2005.
RouteOne tapped
this valuable group for their critical insight into developing
and designing a credit application
management system that would change the
auto finance world.negotiating satisfies
Formed in
2002 by DaimlerChrysler
Services, Ford Motor Credit Company, General Motors
Acceptance Corporation, and Toyota Financial
Services, RouteOne is a free,
web-based credit application management system providing access to
28 finance
sources, including prime, non-prime, and credit unions.
Vicarious liability has
forced 20 manufacturers, including all of the GM,
Ford, and Chrysler brands and every major retail
bank and credit union in New
York out of leasing.purchases acceptance
"RouteOne has made tremendous progress over
the past months, and we are
excited about our future growth," said RouteOne CEO Mike Jurecki.
Integration
enables dealers to exchange credit application and decision
information with their finance sources
in near-real time, simplifying and
improving the credit application process.com .purchases lenders
The application
was introduced to dealers nationwide throughout 2004, and
rollout continues into the first quarter
of 2005.President Bush Expected to Sign Bill to Ban Vicarious Liability; Change is Expected to Bring
Vehicle Leasing Back to New York Says Greater New York Automobile
locater purchases
"Historically, automobile
leasing programs have allowed thousands of New
Yorkers to drive new vehicles at more affordable monthly
payments.lendingtree approval
More information is available at
http://www.
The Greater New York Dealers Association
, a not-for-profit organization
represents 650 franchised automobile dealerships in the metro are
of New York,
which sells more than 700,000 cars each year.amount purchases
RouteOne also offers a
comprehensive
reporting suite that allows dealers to better manage their
business.
Dealers contributed to
the development of RouteOne, right from the start.com or call the RouteOne Enrollment Desk at 1-866
-713-6765
for more information.buyout franchised
RouteOne is significant because it provides dealers unprecedented
access
to their finance sources by combining the unique advantages of the major
captive systems
with access to other finance sources.routeone. Leasing is
an important alternative financing option
for families looking for newer,
safer vehicles and for small and large businesses looking to expand
their
fleets.
Sites must be able to establish that they are a licensed lender that originates
auto loans to be considered for inclusion here.
acceptance lender
At
the same time, the end consumer benefits by spending
much less time in the F+I
office. According to information
released by GNYADA and the Alliance
of Automobile Manufacturers earlier this
year, it has cost consumers in New York more than $280 million
in extra costs
since 2003, and has eroded choice from the market place. The repeal is expected to
bring the automakers and banks
back into the New York leasing market.purchases lendingtree
routeone. The joint venture
has developed a web-based system that enables
dealers and their finance sources, including captives
, banks, and other
financial institutions, to exchange credit application and decision
information
online. This
antiquated law has hurt the retail auto industry, and we are pleased that
Congress
has put an end to it.loan locater
Interested dealers can log on to the RouteOne website at
http://www
. NEW YORK, When President Bush signs the federal
highway bill New Yorkers will likely get a special
bonus -- the return of
vehicle leasing. It is an option that all consumers deserve, and we are pleased
that
New Yorkers will again have the ability to lease vehicles," Schienberg
concluded.franchised acceptance
The Bill
includes a ban on vicarious liability -- the
antiquated law that holds a leasing company liable for
a driver's negligence
which has forced 20 automakers and every major retail bank in New York out
of
leasing.
GNYADA president, Mark Schienberg, welcomed the federal action.franchised lendingtree
negotiating approval
lender originates
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