IRVINE, Calif. — Insight, analytics, and data-enabled solutions provider CoreLogic announced its Credco division has launched Three-Bureau PreQual credit, a report and score solution for automobile dealers. The new tool was designed to provide dealers with an efficient, cost-effective and convenient way to prequalify potential vehicle buyers earlier in the sales cycle.
The new prequalification solution delivers instant, single-source access to a consumer’s credit report and FICO score from any of the three national credit bureaus — Experian, TransUnion or Equifax. The soft-pull solution allows automobile dealers to quickly assess each consumer’s credit report and score earlier in the buyer journey without negatively impacting the consumer’s credit score, all according to the announcement.
“Having access to a low-cost credit report and score earlier in the sales cycle, that doesn’t negatively impact the consumer’s chances of successfully securing a loan, is critical,” said Colby Park, senior leader, Automotive Credit Solutions for CoreLogic. “Our Three-Bureau PreQual solution addresses these challenges by helping dealers build more efficiency into their sales processes, all while improving the consumer’s experience.”