F&I management systems provider Frontline Solutions has
announced a partnership with consumer credit information company
Equifax, which it claims will allow dealers to pre-screen car
buyers for the best finance deal on its F&I system.
Frontline Solution’s managing director Andy Shuter said: “This
means we can provide users of our Elite DealTrak123 system with the
opportunity to protect a customer’s credit rating, by enabling them
to evaluate at point of sale important credit information obtained
by the consumer from their credit file held with Equifax. This will
enable customers to be pre-screened in a way never seen before in a
sophisticated dealership sales process, enabling the finance
proposal to be sent to the most appropriate prime, near prime or
sub-prime lender.”
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Shuter has long been a proponent of the US
model of credit checking in point of sale motor finance, whereby
credit is checked before the financial transaction begins.
Shuter added: “We feel confident it will also improve acceptance
rates for all our lender partners, saving time and creating
efficiencies, as well as improving the customer experience, whilst
further complying with the Consumer Credit Directive
legislation.”
The new facility is aimed exclusively at Frontline Solution’s Elite
customers, although Shuter says discussions are under way to
broaden access to other DealTrak123 users.
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