By injecting innovative F&I technologies and processes into the vehicle delivery process, the Wayne, PA-based MaximTrak and its software help auto dealerships deliver a better buying experience for their customers and enhance their profitability and professionalism.
“The F&I process while buying a car involves enormous amounts of time and paper work, which is not only frustrating to customers but also to the dealer. We wanted to simplify the process and make the customer experience more enjoyable by giving dealers better tools that help them create a more friendly, transparent and profitable environment to do so,” says Jim Maxim Jr., President and Co-Founder, MaximTrak.
The company’s fully integrated, Cloud-based solutions consist of three broad product lines: MenuTrak, Dashboards and e-Trak.
MenuTrak’s online and mobile products enable dealerships to repeat successful business practices on every transaction. It streamlines the process flow and speeds up the deal, which appeals to busy customers, and it makes more money for the dealership.
“Dealers reported new-car Vehicle Service Contract (VSC) penetration lifts up at 32 percent and used-car VSC lifts to 33 percent. They also saw boosts in new-car Per Vehicle Retailed (PVR) and used-car PVR, all these lifts the result of using F&I menu software,” claims Jim Maxim Jr.
“With MaximTrak’s Cloud-based F&I menu systems, we’re already seeing PVR increases of 30 percent, and that is huge money,” says Ralph Mahalak Jr., Dealer Principal, Monroe Dodge-Chrysler-Jeep-Ram, Monroe, Michigan.
MaximTrak Dashboards, the company’s flagship management reporting product, pulls data from a wide array of business systems within the dealership and aggregates the data into a business intelligence warehouse and front-end reporting system.
e-Trak, the company’s electronic contracting platform, another key product of MaximTrak, allows dealers to get error-free VIN rating and e-contracting, with e-signature support and electronic registrations processing. MaximTrak’s e-contracting is integrated with more than 100 industry participants such as third-party administrators, insurers and captive and independent finance companies.
Harley Davidson Financial Services (HDFS), one of MaximTrak’s clients, converted all its dealerships over to the MaximTrak platform in a private labeled solution called MenuLink. This effort achieved a huge boost in F&I revenues for both HDFS and its dealers, with average dealer increases of over $350 per bike.
“We create ingenious solutions for the automobile industry that are 24 months ahead of the competition,” says Jim Maxim. “Our team of young and talented engineers has developed products and solutions that impact our customers’ bottom lines with 30 percent revenue gains while streamlining the back-end administrative nightmares all the while saving more than 15 minutes per deal. As a result, Harley’s Customer Satisfaction Scores are through the roof and dealers are happy with the results.”
MaximTrak is now aggressively expanding its services to many countries outside the U.S. It is doing so by building upon its success with invaluable clientele, including many of the top ten “megadealer” groups as well as major industry providers. Some of these providers include Harley-Davidson Financial Services, Nissan Extended Services North America, Chrysler Group LLC, Nations Safe Drivers, Allstate Dealer Services, American Auto Guardian, and RoadVantage, among others. The company’s current growth and expansion, fueled by innovation, continues to be the foundational promise of MaximTrak that its founders are proud to present to the automotive and powersports industries in the coming days.