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First Advantage CREDCO Assists Dealers with Minn. Law Compliance

January 02, 2008

To help ease compliance with a new Minnesota state law, First Advantage CREDCO is providing Consumer Report Disclosure Notices free of charge to all automotive, RV and marine dealer customers, automatically with every consumer credit report ordered.

Effective January 1, 2008, the new law – which falls under Minnesota Senate File 1333 or Minnesota’s Car Buyer’s Bill of Rights – requires Minnesota dealers to deliver a Consumer Report Disclosure Notice to residents prior to the sale or lease of a vehicle every time a consumer credit report is ordered.

“We’re pleased to offer this service free to our automotive, RV and marine dealer customers,” said Eric J. Rumsey, president of First Advantage CREDCO. “It’s part of our ongoing commitment to help our Minnesota dealers remain compliant so they can focus on sales, while protecting their customer’s right to stay informed on consumer credit inquiries.”

The Consumer Report Disclosure, which will be delivered to the consumer at the point of sale, will be conveniently included as a separate sheet along with the First Advantage CREDCO credit report. Minnesota dealers will not have to take any action to receive the free service, as it will be automatically provided with every consumer credit report beginning January 1, 2008.

First Advantage CREDCO also provides consumer disclosure notices free of charge for California automotive, RV and marine dealers to help them comply with a similar state requirement, which became effective July 1, 2006. Unlike the California consumer score disclosure, Minnesota law doesn’t require dealers to provide the credit score obtained from a credit reporting agency to the consumer.

First Advantage CREDCO Teams with Market Scan

First Advantage CREDCO, a leading provider of vehicle purchase requests and specialty credit reports to the automotive industry, recently announced it will be providing a suite of prospect lead solutions to Market Scan, a leader in vehicle desking technology for the automotive market. Under the agreement, dealers using the Market Scan Desking System can access First Advantage CREDCO’s Lead Prospector Internet, Bankruptcy, Targeted and Subprime lead solutions directly from its online dealer portal, CREDCOServices.com, via a desktop button.

The availability of First Advantage CREDCO’s lead solutions will enable participating U.S. automotive dealers to efficiently target and manage customer prospects in their direct market area.

“Partnering with First Advantage CREDCO for lead-prospect solutions will greatly assist our dealer customers in identifying in-market prospects and managing the lifecycle of a consumer’s automotive buying process,” said Market Scan national sales manager James Mason. “A consumer’s decision to purchase a vehicle is greatly influenced by a fair amount of research and comparison shopping first. Now we can provide dealers the tools they need to effectively communicate with consumers – and manage their purchasing expectations – throughout the buying lifecycle.”

Market Scan dealers now have fast and convenient access to lead-generation solutions that help them reach Internet, bankruptcy and subprime prospects – in addition to targeted lead prospects that they can identify and contact via direct mail.

“Our expanded relationship with Market Scan enables our mutual customers to access quality consumer leads in an efficient, convenient manner,” said Eric J. Rumsey, president of First Advantage CREDCO. “Our suite of lead solutions allow dealers to optimally manage their contact strategy so they can maximize their marketing results and sales opportunities as consumers shop for and purchase vehicles.”

First Advantage CREDCO provides Market Scan dealerships with an integrated credit reporting solution to help make fast, accurate and reliable business decisions. Since 2001, the two companies have enjoyed a successful business relationship based on First Advantage CREDCO’s credit information services. The availability of lead generation solutions expands this relationship, providing another value-added service to Market Scan dealer customers.

For more information, visit www.FADVCredco.com.

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