Crossroads Automotive

We probably have six or seven 45 foot containers full of deal files. We have box trucks full of deal files. We have overhead in the parts department full of deal files. In the last 10 or 12 years, the paper deal file has almost doubled in size because of all the regulations. So there's a lot of paperwork to do at the sales tower and a lot of paperwork to do in the finance office. We probably process about 2,500 deals a month. They end up everywhere. We'd have deals that were in contract and transit that were out there for a little bit longer than they needed to be. It was difficult locating all the papers for a deal. Our farthest store is about 150 miles from us. We spend probably $15,000 or $20,000 a month in courier fees just to process the deals. For the last three or four years, we've invested in technology to try to eliminate paper. The electronic deal jacket allows us to just pull up a deal right away without having to go next door or travel or sift through a whole bunch of papers. Everyt It goes through doc, you can get sent right immediately through accounting and it's a done deal. So there's really no lag time in how a deal gets funded. Instead of the customer getting reams of paper when they're done, they go in a little USB flash drive. We checked with our legal counsel and have them vet all the forms so that now everyt So we really feel very, very confident about our deal structure. If you're a dealers It's not going anywhere. Paper is gone very, very, very soon.