BURLINGAME, Calif.  — CarWoo and DealerTrack revealed this week that they are partnering to
deliver payment calculation and credit application capabilities
directly to CarWoo users.

DealerTrack's PaymentDriver and
FinanceDriver tools will now be directly integrated into the site's
marketplace and its new Dealer Premium offering, officials noted.

The DealerTrack advanced digital retailing tools will allow consumers
using CarWoo to see monthly payments and qualify for financing on a
specific vehicle with dealers who have signed up for the Dealer Premium
program, which will be available later this year.

"DealerTrack's
PaymentDriver and FinanceDriver allow CarWoo to provide dealers with
buyers who are very far down the purchase funnel. These buyers are ready
to close the deal and drive off," said Tommy McClung, CarWoo's chief
executive officer.

"CarWoo's online marketplace is the best
online approximation of the traditional in-dealership experience. It's
tailored to the growing population of customers who want to buy
everything online and created efficiencies for dealers that translate
into increased profitability," he continued.

How exactly does
the product integration work? The company explained that the financing
tools will be available to participants in its new Dealer Premium
program, which will be available later this year. First, a Premium
dealer presents an offer to a buyer. Then, the PaymentDriver tool allows
the buyer to see the range of payments they can expect.

"With
PaymentDriver, the buyer has the ability to enter his or her credit
score and trade-in value and then, based on current rates, residuals and
rebates along with lenders and terms configured by the dealer, see
vehicle-specific loan or lease deals," the companies explained.

And with FinanceDriver, the customer can be fully qualified based on a credit application that is filled out online.

Commenting on the news, Amit Maheshwari, general manager of digital
retailing solutions at DealerTrack, said, "Our digital retailing
solutions and tools help streamline the online buying process for
consumers while linking it with the dealer's in-store practices.

"The additional of FinanceDriver and PaymentDriver to the CarWoo
marketplace will enhance consumers' online car buying experience, while
putting more qualified buyers directly into the hands of dealers," he
continued.

Lastly, CarWoo officials highlighted some more
elements of its new Dealer Premium program, which offers the following
tools to dealers:

—In-market verification of buyers
—Customized profile pages and improved SEO (search engine optimization)
—The ability to upload photos, videos and PDFs along with an offer
—Loan or lease payment calculator
—Online finance qualification