AutoVerify developed a tool called Credit+ to help dealers set realistic expectations around customer payments, while also providing auto retailers with in-depth credit information.
The company said it is now critically important for dealers to have accurate customer credit information to sell vehicles that fit the customer’s financial situation. The need is even greater now, they say, because more consumers are searching and shopping for vehicles online.
“Today, Credit+ helps dealers save time and resources by directing customers towards a vehicle they can afford and setting realistic expectations around the interest rates and payments they can expect to make,” said AutoVerify President Marty Meadows.
In the first quarter of 2022, he said the solution will also allow dealers to determine whether a customer has negative equity on a vehicle, which should help provide a more in-depth understanding of that buyer’s financial position.
AutoVerify Credit+ is a free enhancement to the company’s AutoVerify Credit tool, which is part of its Digital Retailing Suite.