Rollick recently launched its online finance pre-qualification solution at the Powersports Finance Conference in San Diego, Calif. This add-on product helps dealers better serve the buying needs of consumers as they shop on their own websites, as well as GoRollick affinity buying program sites, according to the company.
Pre-qualification offers consumers the ability to know in real-time if their credit profile conditionally qualifies them for the dealer’s financing programs, thereby further connecting the online and offline components of the shopping process.
The solution will operate with the help of TransUnion, a global leader in credit and information solutions. As customers progress through the purchase process, they are asked questions about their personal information, employment and income. They are then prompted to authorize Rollick to request their credit report from TransUnion, which returns their credit score and results in a “soft” inquiry on the credit profile. This evaluation, which will not hurt the consumer’s credit score, will determine if they meet the minimum requirements of that particular dealership or if additional information or action is required, such as bringing a co-signer to the dealership or making a larger down-payment.
Future releases of the solution will integrate with specific lenders so that customers will not just know if they are pre-qualified, but also with which specific lender, what their estimated monthly payments would be on a specific vehicle given the qualifying rates and other loan terms, and start the application process online to save time at the dealership.