CLIENT

Lonestar Truck Group

INDUSTRY

Dealer financing operations

SECTOR(S)

Sales, F&I, and Compliance

Enhancing Lonestar’s Dealer Financing Operations with Trnsact

Lonestar Truck Group operates across 24 locations, managing a range of commercial truck financing and sales operations. In 2023, facing operational challenges and the need for improved compliance, Lonestar sought a software solution to streamline their financing processes and enhance integration with their existing systems.

The Challenge

Limited compliance features in their previous software

Lack of integration with their DMS, Arcadium

Inefficient paper-based application processes

Need for improved soft credit pull accuracy

“We needed a solution that could provide more accurate soft pulls. Our previous system was limited and often inaccurate, which affected our ability to make informed decisions quickly.”
Cheryl Staples, F&I Lead for the Central Texas Region

The Solution

Enhanced Compliance:
Introduced crucial compliance checks, including OFAC and red flag rules.
Advanced Integration Capabilities:
Improved connectivity with Arcadium DMS, with plans for even more advanced tie-ins.
Digital Transformation:
Replaced paper applications with a user-friendly digital platform.
Accurate Soft Credit Pulls:
Implemented a more reliable soft pull feature for better decision-making.

“The new system integrated well with our existing processes. It filled in gaps we had identified and streamlined our workflows significantly.”

in transaction volume processed

$ 0 B+

improvement in finance penetration

0 %

overall reduction in processing time

0 %

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John Doe, COMPANY

The Timeline Operations with TRNSACT

Discovery & Workflow

Align on current workflows, compliance needs, and integration requirements.

Systems & Integration

Define touchpoints, data flow, and operational handoffs between Sales and F&I.

Configuration & Enablement

Roll out the user-friendly digital platform to replace paper-based processes.

Rollout & Optimization

Roll out the user-friendly digital platform to replace paper-based processes.

Projected Improvements in Compliance and Efficiency

While still in the process of full implementation, the Lonestar leadership team anticipates several key benefits. The new system is expected to significantly improve compliance by ensuring adherence to industry regulations. By integrating with Arcadium, the truck dealership aims to streamline workflows, making processes more efficient for their sales and F&I teams.

Commercial customers will also experience enhanced convenience, as digital applications simplify their experience, particularly for those frequently on the road. This shift to digital processes is anticipated to increase accuracy by reducing errors associated with manual data entry, while improving soft pull accuracy, and expediting financing decisions.