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Are Electronic Signature Legal
PACCAR Financial Becomes First OEM Captive Finance Company to Offer E-Signing
PACCAR Financial (PFC) has partnered with DocuSign® to offer a secure electronic way to sign PFC finance contracts, streamlining the process of purchasing new and used trucks through the Kenworth and Peterbilt dealerships, and PFC Used Truck Centers

The DocuSign® system provides an electronic document and signature service, or Digital Transaction Management™, through a secure website using bank-level security in full compliance with federal regulations. The cloud-based service can be accessed via any internet enabled device.

PACCAR Financial is the captive finance company of PACCAR Inc. and provides loans and leases at Kenworth and Peterbilt dealerships. “PFC is the first captive finance company for a truck OEM offering secure electronic document signing through DocuSign,” according to Todd Hubbard, President of PACCAR Financial.

“By offering customers this option, we can provide a more streamlined process for signing contracts, particularly if they cannot come into the dealership,” Hubbard said. “Because the loan documents are routed and stored electronically, this creates flexibility for our customer that was not available before.” 

Electronic documents and signatures also reduce any potential errors due to missed signatures or missing forms, which can slow down the truck delivery to the customer. The signature process won’t complete unless all the documents are signed.

The individual responsible for signing the contract can complete the process while in the office or on the road, at the same time as the driver is on the way to pick up the truck. Customers can attach additional documents and send them back to our dealers, virtually eliminating the shipping fees, paper and printing costs. DocuSign offers customers a free account that provides access to all previously signed contracts and documents processed through DocuSign.

“Using an electronic signature is becoming more of the norm in many industries; it just makes sense that we make this our standard way of doing business also,” Hubbard said.

Sean Walsh, a regional finance manager at The Pete Store, Peterbilt’s 2016 North American Dealer of the Year, recently had a situation in which documents had to be signed by two people in different locations.

“The customer had sent a driver into the dealership to pick up the truck,” Walsh said. “With DocuSign, I had the finance documents sent to the company owner for signature and then had the driver sign a few dealer documents. Funding was quick and the driver was able to drive the truck out of the dealership within minutes.”

Ellen Ledet at Kenworth of Louisiana also had a similar experience. “I sent the DocuSign documents to my customer at 9:00 am, and by 9:10 am I had them back.”

The DocuSign service is available to PACCAR Financial customers who purchase new or pre-owned trucks through Kenworth and Peterbilt dealerships in the United States.

For More Information On DocuSign through PACCAR Financial see our Docusign Help Page
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