Customer credit-rating provider Can Can Car Finance is set to celebrate its first birthday on 26 December, following a successful trial with car supermarket Trade Centre Wales.

According to Mark Bailey, founder and chairman of Can Can, the company plans to launch another pilot scheme with a "very large car supermarket" in the north east of England in 2013.

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"By the end of 2013, we are hoping for another hundred car dealers that can use the Can Can Facility," Bailey told Motor Finance.

The Can Can product offers customers an online indication on their credit-worthiness within 60 seconds, using Equifax Credit Reference to assess submissions, which can then be taken to dealerships to arrange finance.

Pre-qualifying barometer

Can Can will also match customers to lenders, based on their credit result, and can count Close Motor Finance, MotoNovo, Santander Consumer Finance, Black Horse, Barclays and several subprime players among its lending panel.

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Bailey said Can Can’s trial, run since Boxing Day 2011, has fielded 18,692 online applications and introduced 1,100 customers to Trade Centre Wales, based in Neath.

The proposal for the north east scheme has been part-facilitated by Andy Shuter, managing director of software house Frontline Solutions, who also emphasised that in the Can Can model lenders agree the cut-off points for finance, giving them more control, but that only dealers in the Equifax Close User group would "directly benefit from the service". Shuter also explained customers would not be shown where they are on the credit "barometer".

Bailey added the model of returning "the probability of the customer being accepted for credit with a list of most-suitable finance providers, based on the dealers’ panel of lenders" matched that of iVendi’s Car Finance Checker, which was claimed to be the first of its kind.

An extended interview with Mark Bailey of Can Can Car Finance will be published in the January issue of Motor Finance magazine.

richard.brown@timetric.com