Dealers benefit by having customer FICO® score and auto tradeline data to work smarter deals earlier in the sales process.
Southfield, Michigan – March 22, 2018 – 700 Credit, LLC, the auto industry’s leader in providing credit reports, compliance solutions, prescreen and consumer pre-qualification products and services, today announced an exciting new relationship with Edmunds, the leading car information and shopping platform that helps millions of visitors each month find their perfect car. With this new alliance, Edmunds will incorporate the 700Credit’s pre-qualification platform into the consumer car shopping experience on Edmunds.com.
The integration of the 700Credit pre-qualification technology will enable Edmunds to send just a name and address to 700Credit to run a soft-pull on the online shopper. Edmunds in return will receive the consumer’s live FICO® score and information on all open auto tradelines including monthly payment, interest rate and remaining balance. This will also enable Edmunds to provide consumers with accurate car payment quotes instantly based on the vehicle they interested in.
“Consumers are spending more time than ever shopping for vehicles online. Not only do they want to find the right car, but they also are looking to move further down the sales process before stepping into a dealership”, noted Ken Hill, Managing Director of 700Credit. “By providing soft-pull data to dealers earlier in the process, consumers can be offered proposed monthly payments and interest rates sooner – when they are still online deciding who they will buy their vehicle from – encouraging them to purchase at the dealership making the offer.”
“With their feature-rich solution and large network of dealers, 700Credit helps us deliver on our mission to make car buying easy,” said Nick Gorton, vice president of product innovation at Edmunds. “As we look to move more of the car shopping process online, 700Credit enables us to provide more meaningful connections between qualified, ready-to-buy shoppers and dealers in a seamless, mutually beneficial way.”
700Credit is the automotive industry’s leading provider of credit reports, compliance products and prescreen services. The company’s product and service offering includes credit reports, dealer-facing prescreen and consumer-facing pre-qualification platforms, OFAC compliance, Red Flag solutions, score disclosure notices, adverse action notices and more. 700Credit’s goal is to provide its clients with the highest quality data in a compliant framework in the most efficient manner possible. For more information about 700Credit, visit www.700credit.com.
Edmunds is on a mission to make car buying easier. With industry-leading vehicle reviews and shopping tips from an in-house team of experts, plus a 20-year-old forums community of car shoppers and enthusiasts, Edmunds helps millions of shoppers each month find their perfect car. Edmunds provides transparent pricing from thousands of dealers and continually embraces new technologies to help shoppers buy smarter. Regarded as one of America’s best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.