Nissan Motor Acceptance Corporation to Offer Electronic Credit Application Submission and e-Contracting Technology to Its Dealerships

    TORRANCE, Calif.--March 4, 2003--Nissan Motor Acceptance Corporation (NMAC), the captive automotive financial services arm for Nissan North America, Inc., announced today that it plans to enter into associations with three of the key providers of online credit applications for its Nissan and Infiniti dealer network.
    Credit Online, Inc., DealerTrack, Inc., and RouteOne LLC will provide online credit application submission, connectivity and eventually, electronic contract submission from Nissan and Infiniti dealerships. These electronic tools will ultimately allow a dealership to significantly reduce the time required for contract processing and funding.
    "NMAC is selecting all three companies rather than just one so that our dealerships can determine which process works best for them," said Tom Lyons, Senior Manager, Corporate Planning Office, NMAC. NMAC is concurrently working on developing content and tools for dealers to access critical information, such as, customer payoff information and dealer funding status of pending contracts on Nissan's Dealer Portal."
    NMAC will continue to have the technological ability to interface with software solutions from multiple vendors and accept credit applications from the various sources currently available to the dealers. However, NMAC's goal to streamline operations and processes is to migrate to only one widely accepted technology standard for both electronic credit application and contract submission. Migrating to one technology standard is not intended to limit the dealers' options, but rather streamline the process to connect to NMAC.

    About Nissan Motor Acceptance Corporation

    NMAC and its Infiniti Financial Services (IFS) division purchase from their dealers throughout the United States retail and lease contracts for the complete line of Nissan and Infiniti vehicles. NMAC also provides wholesale floorplan, equipment, capital and mortgage loan financing to Nissan and Infiniti dealers. These programs and services are made possible by the approximately 700 employees of NMAC & IFS, who are located at our corporate headquarters in Torrance, California and at NMAC's Customer Service Center in Dallas, Texas, as well as a nationwide network of Financial Services Managers who work directly with Nissan and Infiniti dealers. Together, NMAC and IFS service over $15 billion in outstanding loans and leases for approximately one million customers. In addition, NMAC and IFS service over $1.6 billion in outstanding commercial loans.

    About Credit Online, Inc.

    Credit Online is the e-commerce subsidiary of First American CMSI. The company facilitates business-to-business transactions through its Internet gateway and its patented CreditConnection technology. Credit Online's innovative technology instantly and electronically connects businesses that are credit originators (such as automotive dealers) to credit bureaus and multiple funding sources or "electronic" lenders throughout the United States and Canada via the Internet. The service is available 24 hours a day, seven days a week, expediting the credit application approval process from days to minutes. For more information, visit www.cmsinc.com.

    About DealerTrack, Inc.

    With over 19,000 dealers and 23 lenders currently connected, DealerTrack is North America's premier independent web-based platform that automates and accelerates the entire dealer-to-lender relationship, from financing to daily information sharing. The DealerTrack platform enables application processing, credit bureau access, electronic contracting and lease comparisons -- all in one easy-to-use, integrated solution. More information on DealerTrack is available at www.dealertrack.com or by calling 877-357-8725.

    About RouteOne LLC

    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 financial institutions. The joint venture is developing a web-based system that will enable dealers and their finance sources, including automotive captive finance companies, banks and other financial institutions, to exchange credit application and decision information online. More information is available at www.routeone.com.

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