Dealers can use soft-pull credit data to sell cars in for service
Farmington Hills, MI – December 18, 2019 – 700Credit, LLC, the automotive industry’s leading provider of credit reports, compliance solutions and consumer pre-qualification products, today announced its integration alliance with AutoAlert, the creator of the automotive industry’s leading software and communication solutions. With this new alliance, AutoAlert has incorporated QuickScreen, 700Credit’s prescreen solution, into their AutoAlert CreditConvert platform to increase sales opportunities sourced from a dealer’s service lane business.
The benefit to utilizing prescreen data within the CreditConvert platform is that it allows dealers to identify conquest customers who are in a good equity position and may be ready for a trade. 700Credit leverages its VIN Match technology to match the vehicle in for service with the auto tradeline information from the consumers credit file. This allows AutoAlert to both identify the estimated payoff amount and equity in the vehicle to then provide a customer with a more accurate quote on a new vehicle.
“Prescreen data allows dealers to provide customers with payment quotes in the service lane,” noted Ken Hill, Managing Director of 700Credit. “By pulling soft-pull data in the service lane, dealers can identify vehicles that are in a good equity position or have high interest rates, so they can put customers in a new vehicle at lower rates, potentially lowering their monthly payments. Soft-pull data is particularly useful for conquest customers when the vehicle in service was not purchased at that store,” added Hill.
“The service lane is an incredible, but often overlooked, opportunity for sales and customer growth,” says Julian Johnston, AutoAlert’s VP of Innovation and Platform Philosophy. “700Credit unlocks the door for AutoAlert to build relevant connections in the service drive with their service conquest customers. Pair that with AutoAlert’s Customer Experience Management (CXM) platform, and these former service-only customers now become lifelong advocates for the dealership.”
700Credit is the automotive industry’s leading provider of credit reports, compliance products and prescreen services. The company’s product and service offerings include credit reports, dealer-facing prescreen and consumer-facing pre-qualification platforms, OFAC compliance, Identity Verification 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. To learn more, visit 700credit.com.
Since 2002, AutoAlert has continuously innovated, evolving from a single software program to a full customer experience system. Today, our purpose-built automotive intelligence platform leverages multiple patents to deliver insight-driven outcomes and connect OEM, captive finance, and dealer operations to engage customers in a meaningful way. Visit us and read our blog at AutoAlert.com.