May 2018 Newsletter

PRODUCT SPOTLIGHT:  700Credit Auto Summary
– Now Includes APR!!!

Did you know that 700Credit offers an Auto Summary – a unique automotive profile detailing all auto tradelines on a consumer’s credit report – designed exclusively for the automotive retail market. Our Auto Summary provides a quick snapshot of all auto-specific information contained in the credit report including: 

  • Current/previous auto loan history displayed in one location
  • Displays the number of auto trade lines
  • Shows monthly payment amounts and current loan balance
  • Past due information highlighted in RED
  • Payment patterns identified
  • NEW:  APR’s for all open auto loans!

Auto Trade Lines do not stand out or are easily interpreted in a Credit File.  By providing all automotive-related information from the credit file streamlined and summarized at the top of the report, the dealer benefits include:

  • Reducing the chance for human error
  • Increasing the speed and accuracy in identifying and interpreting auto-specific information
  • Easy identification of past due auto trades
  • Better decision-making ability due to the streamlined reporting

We have a special offer for all 700Credit clients and prospects:  a 30-day free trial of our unique Auto Summary – now with APR on all open tradelines included!

Click Here for your Free Trial


New Products Updates!

Consumer Consent Letter
We now have the ability of presenting a letter to consumers who question giving consent when filling out our QuickQualify and QuickApplication web-based soft-pull and full credit application solutions on a dealer’s website.  This letter includes the date of transaction and IP address from when and where the consent was given. 
 
Out of Wallet Now in the Compliance Dashboard 
We have added Out of Wallet (OOW) transaction counts to our Compliance Dashboard. This data will provide insight into overall OOW history/usage, as well as view into number of OOW transactions requested compared to consumers resulting in Red Flag Alert. It includes applicants where OOW was requested, those that passed/failed/abandoned, and where questions were not available.
 

The Benefits of Multi-Bureau Pulls
June 5th and 7th 


Last quarter we kicked off our new Educational Webinar Series with our first topic:  How to Read a Credit Report.  The response and participation was overwhelming – thank you to all who joined!   

Our second quarter webinar is scheduled for June 5 & 7.  The topic is “The Benefits of Multi-Bureau Pulls: Fund the Best Deal for your Customers”.  Recent studies have proven that dealers who pull more than one credit score on consumers have higher closing ratios and gross profits than dealers who pull only one score. In a recent study 55% of applicants with 2 credit bureaus pulled have risk scores that vary by more than 20 points, and the variance increases to over 30 points when all three scores are pulled. This implies the possibility of your customers qualifying for better rates on the majority of your deals!

In this session, we will discuss the statistics and walk through real-life testimonials of how dealer’s like yourself have greatly benefited from pulling multiple bureaus during the funding process.  We will also discuss how you can make multi-bureau pulls work for you.

Click Here to Register

We are offering a 60-day free trial for our existing credit customers!  If you are currently pull one credit bureau, we will offer the other two at no additional cost for 60 days. If you are pulling two bureaus, we will offer the third at no cost. 

Click Here to Sign Up Now


Upcoming Webinars in Series:

Soft-Pull Solutions – September 4th & 6th 

Are You Ready for a Compliance Audit? – December 4th & 6th 




Look Who Joined DrivingSales.com?  We Did!
 

Now we need your help!  We invite you to rate our products and services to help us boost our ratings on the site. You can click here to find us easily:  https://www.drivingsales.com/700credit Thanks in advance for your support!

Send a screenshot of your review of 700Credit to inquiries@700Credit.com before July 1, 2018, to be entered to win a $100 Amazon Gift Card!


Where to Find Us Next:
 
May 14 – 15 – Rockstar Auto Show – Las Vegas, NV

May 20 – 23  – Agent Summit – Las Vegas, NV 

June 18 – 21  – NIADA NABD Conference

 


SAVE THE DATE!

We are hosting our first-ever Dealer Summit! This will be a great opportunity to mix and mingle with other 700Credit dealers and share best practices, tips and techniques for making the most of our products and services.  You will also have behind-the-scenes access to the 700Credit team as well as many of our software partners including: CRM, DMS, ILM, direct marketing, lead generation, websites and much more!

Click Here to Learn More

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