Integration helps auto dealers manage expenses and efficiently prequalify potential buyers via soft credit pull
CoreLogic® (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, announced that CoreLogic® Credco® integrated its Three-Bureau PreQual credit report and score solution on eLEND Solutions, an automotive technology company specializing in online and in-store credit and finance solutions. The integration of the prequalification solution gives CoreLogic Credco customers who use eLEND instant, single-source access to a consumer’s credit report and FICO® score from all three national credit bureaus – Experian®, TransUnion® or Equifax®.
The Three-Bureau PreQual solution from CoreLogic Credco is a soft inquiry credit report and score that provides dealers with an efficient, inexpensive and convenient way to prequalify potential buyers earlier in the sales cycle. The solution leverages a soft inquiry as opposed to a traditional credit report’s hard-pull, so a consumer’s credit score is not negatively impacted.
“We are excited to make our new Three-Bureau PreQual solution seamlessly available to all of the auto dealers currently using eLEND,” said Colby Park, senior leader, Automotive Credit Solutions for CoreLogic. “We have found that dealers like the solution because it allows them to effectively manage their credit reporting costs while efficiently pre-qualifying prospective car buyers earlier in the process. Consumers benefit because, unlike a traditional hard-pull credit report and score, it doesn’t negatively impact their credit score when it matters most – like when they are shopping for a car and trying to understand their eligibility for financing. It’s a win-win.”
“We’re dedicated to providing tools that help auto dealers sell cars faster to improve their profitability and the consumer experience,” said Pete MacInnis, CEO at eLEND Solutions. “Adding access to soft inquiry credit pulls through Three-Bureau PreQual will help set our auto dealer network up for future success by increasing speed and transparency within the sales cycle. Quickly providing access to additional insights into consumers’ credit standing, without impacting their credit score, will benefit consumers and auto salespeople alike.”
The Three-Bureau PreQual credit report and score is currently available by contacting CoreLogic Credco Specialists at (800) 694-1414 or via email at [email protected]. For more information on the Three-Bureau PreQual credit report and score from CoreLogic Credco, please visit https://credcoservices.com/credit-services/three-bureau-prequal-solution.
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
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Source: CoreLogic Press Release