I agreed to give the QuickQualify soft pull link a try from 700Credit. We are an independent dealership and tend to deal with more prime, A&B credit, than subprime. My initial thoughts were that this would be more beneficial for subprime business…but I was wrong.
While I can definitely see a benefit for pre-qualifying poor credit customers, it has become a useful tool on the lot for us to be able to accurately calculate payments and interest rates without the customer having to worry about a credit pull that could affect their credit score. It seems to put the customer more at ease to initiate the beginnings of a car deal when they are more in the “just looking” stage without the added pressure of jumping straight to an actual credit pull.
We have also been able to keep customers from seeking their own financing when we can accurately quote an interest rate without that hard credit pull. In the past, some customers would want to check with their lender first, just assuming that rate would be lower. And when that’s the case, there is a good chance you might not ever see that customer again.
For the money, I really can’t think of a better tool to help us sell more vehicles and keep the customers on the lot. 700Credit integrated a banner link on our website and provided me with a QR code application link that I have used on the vehicles themselves, along with other marketing.
Would definitely recommend this product.
