eContracting for dealers: how to choose

eContracting tools generate retail installment and lease contracts, capture electronic signatures and deliver the contract package to the lender digitally. They pull deal data so numbers match the approval, and they check for missing fields before the package is sent.

Electronic contracts fund faster and have fewer errors than paper. That reduces contracts in transit and the cash tied up in them. Most major lenders accept eContracts, and many dealers now use them on the large majority of deals.

eContracting pairs naturally with remote and online deals, where the customer signs from home. It also connects to electronic title, which more states now require. Check lender coverage, state forms and how the tool stores the authoritative copy of each contract.