Chase Auto Finance Signs Up With RouteOne

Dealers to benefit from streamlined process

FARMINGTON HILLS, Mich., Aug. 24 -- Chase Auto Finance, one of the nation's largest automotive lenders, has joined the RouteOne credit application management system, becoming the 50th participating lender. RouteOne was created in 2002 by DaimlerChrysler Services, Ford Motor Credit Company, General Motors Acceptance Corporation, and Toyota Finance Services to streamline the automotive finance process for dealers.

Chase Auto Finance, the auto finance business of JPMorgan Chase & Co., is the largest bank purchaser of auto finance contracts within the U.S. through a nationwide network of 16,000 dealers.

"Chase is a preferred banking partner for many of RouteOne's 18,000-plus enrolled dealerships, making it an ideal partner for us," said Mike Jurecki, RouteOne CEO. "Chase's competitive rates, depth, and dedication to customer service make it a premier financing provider for the entire industry and a major plus for dealers on the RouteOne system."

"Our dealers have told us that RouteOne's business model makes sense for them," said Joe Scimone, President of Chase Auto Finance. "We are eager to complete the integration process so our dealers can begin reaping the benefits."

By connecting 18,000 dealerships to more than 30 integrated finance source partners, the RouteOne system has set record application volumes every month since its launch in June of 2004. The system, free to dealers, offers a wide variety of tools to assist the dealer in managing the day-to-day business, such as a detailed reporting suite, DSP integration, and credit bureau access, all within a single desktop application.

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 deliver vastly improved efficiencies in the credit application process for automobile dealers, their customers and participating finance institutions. The joint venture has developed a web-based system that will enable dealers and all their finance sources, including banks and other financial institutions, to manage the credit application and consumer financing process online. More information is available at http://www.routeone.com/ .