DecisioningIT’s Founder and President André-Martin Hobbs was recognized at the International Transportation & Automotive Summit in Las Vegas, Nevada in July thanks to “Lucy”—a program that takes the guesswork out of the F&I manager’s job.
More specifically, he was bestowed with the Excellence in Transportation & Automotive Award that recognized Hobbs’ efforts behind Lucy, which is operated by DecisioningIT, as part of “the foundation for a better tomorrow.” The platform was built to be user friendly, reliable and fast.
Hobbs said the manual work required by an F&I manager to look into a consumer’s file is lengthy. “Even the best of the best take at least 30 minutes to look at Equifax and TransUnion credit bureaus, bank statements and then to find the right lenders according to their financing criteria and finally send applications to get their prospects approved at credit,” said Hobbs.
Lucy, he said, does all of this in just 16 seconds—“without mistakes and with the most updated lender programs.”
Lucy came about when Hobbs asked five F&I managers to look at five client files, and discovered that each manager interpreted the files differently and came up with varying degrees of solutions, thereby pointing to a lack of consistency that Lucy is meant to provide.
The company aims to create a new standard in non-prime lending with Lucy, helping dealerships connect with consumers who have a history of difficulty in receiving the financing they need. The program also helps consumers whose profiles are top-notch too.
In fact, the program is meant to help F&I managers, no matter the customer profile, select the right lender programs in a short amount of time (seconds), and help them improve profits while offering the lowest payment available to consumers.
“Therefore, Lucy saves time and raises profits,” said Hobbs, later adding that “The challenge consumers face without knowing it, is that their financing options vary according to each and every F&I manager. This impacts years of vehicle payments with potentially interest rates that are too high.”
The program will be available online on dealer websites soon.
