Wells Fargo Unveils Dealer Express Service
SAN FRANCISCO--June 26, 2002--Wells Fargo & Company today announced the launch of the Dealer Express Service Web site -- a revolutionary new online account management solution for auto dealers. With Dealer Express Service, Wells Fargo is providing premier auto dealers new levels of convenience when accessing and managing their inventory and flooring account activity. This service is provided free of charge to auto dealers who have flooring plans with Wells Fargo, and is available 24 hours a day, seven days a week, 365 days a year.
A leader in online banking, Wells Fargo is one of the first major banks to offer this powerful online management tool for auto dealers. With Dealer Express Service, dealers can manage their day-to-day account transactions online, providing them with more control and the ability to efficiently manage their cash balances. Essentially, what was once a labor-intensive, manual process has become simplified and Internet-based. The easy-to-use online service allows dealers to save time on daily operations enabling their businesses to reach new levels of productivity and take better control of their cash balances.
"Wells Fargo Auto Finance is continually looking for creative and innovative ways to help our customers -- whether they are consumers purchasing vehicles through dealerships or auto dealers looking for ways to improve their business operations," said Brent Fossey, senior vice president, Wells Fargo's Auto Finance Group. "Dealer Express Service provides auto dealers with a free service that enables them to conveniently manage their flooring account activities completely online with access anytime, anywhere."
The Dealer Express Service Web site is a fast and easy way for auto dealers to view their wholesale account information and perform a variety of account functions over the Internet. From this site, dealers have the ability to:
| -- | Payoff a floor plan vehicle |
| -- | Floor a used or program vehicle |
| -- | View and download a floor plan inventory listing |
| -- | Perform stock number maintenance |
| -- | Transfer funds to and from the special prepayment account |
| -- | Advance or pay down on a revolving line of credit |
| -- | Make loan payments |
Dealer Express Service is the latest addition to the innovative online solutions available on wellsfargo.com under Commercial Services. The new addition builds on the success of the Commercial Electronic Office(SM) -- a business portal that provides commercial customers a powerful suite of financial solutions from cash management to purchasing services.
Wells Fargo Auto Finance keeps auto dealers on the financial fast track with market leading online services such as Dealer Express Service and DealerTrack(TM), an electronic loan application system that enables dealers to submit customer applications and get credit decisions quickly. With over $17 billion in loan, lease and servicing portfolios, the Wells Fargo Auto Finance Group is one of the nation's largest automobile lenders and offers a full line of industry specific credit, banking and consumer financing products and services.
ABOUT WELLS FARGO & COMPANY
Wells Fargo is a $312 billion diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through 5,400 stores, its Internet site and other distribution channels across North America as well as internationally.
