700 Credit, LLC, the automotive industry’s leading provider of credit reports, compliance solutions and consumer pre-qualification products, announced its integration alliance with AutoLoop, the leading provider of auto industry sales, service, and marketing solutions. With this new alliance, AutoLoop has incorporated QuickScreen, 700Credit’s prescreen solution, into their AutoLoop Quote equity mining platform to increase sales opportunities sourced from dealer’s service lane business.
The benefit to utilizing prescreen data within the Quote 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 AutoLoop 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 is a powerful tool which allows dealers to provide customers automated 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.
With the ability to perform a soft credit pull, dealers will be able to equip their staff with valuable information on service customers that they didn’t have before. “The new integration is the latest way Quote is streamlining the upsell process,” affirmed Steve Anderson, CEO of AutoLoop. “The best part is it doesn’t register on the customer’s credit report, nor does it negatively affect their credit. So it’s a win-win for both dealers and customers.”
Dealers subscribed to AutoLoop Quote have access to this new integration today. Those interested in learning more about how to use 700Credit integration with Quote can visit AutoLoop at NADA booth 3634S in San Francisco from January 25-27, 2019, or call 877-850-2010 for more information.
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, Red Flag 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. For more information about 700Credit, visit 700credit.com.
Source: 700 Credit