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Jared Hamilton
From: Jared Hamilton
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Dave Page

Dave Page Owner

Exclusive Blog Posts

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More than half of all sales customers will abandon your dealership’s service department in the first year. It’s a widely varying statistic &nda…

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Lose a Sale, Save a Life: When a Test Drive Tests the Legal DUI Limit at Car Dealerships

Lose a Sale, Save a Life: When a Test Drive Tests the Legal DUI Limit at Car Dealerships

Seasoned car dealers and sales professionals are true masters of relationship marketing.  A vehicle purchase is an important decision for consumers, a…

7 Attitude Tips to help you Succeed in the Car Business

7 Attitude Tips to help you Succeed in the Car Business

I have found that one of the greatest traits of all the best salespeople to ever sell is a positive attitude. I experience it first hand in my own life, …

How Well Are Your Digital Campaigns Really Performing?

How Well Are Your Digital Campaigns Really Performing?

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Finally, an Ace Up the Dealer's Sleeve to Sell a Car

Car dealers are always looking for an easier way to sell a car. However, most of today’s technology seems to help the customer buy the car, not the dealer sell the car. Would you agree? The majority of the new tools designed to help dealers in the past few years seem to be helping them “race to the bottom”.

What if there was a tool that gave the dealer an ace up their sleeve? What if EVERY LEAD that came from the dealership's best lead source (dealer’s website) was armed with data about a customer via technology that the dealer didn't even have to ask for? Unfair advantage?

Well, today is your lucky day! What type of data am I talking about? Please reference the screenshot below. This data was made possible by simply collecting 5 pieces of information (same as ANY form on a dealer’s website).

  1. First Name
  2. Last Name
  3. Address
  4. City
  5. Email

Bureau Report

The data referenced in the screenshot above was acquired from the customer like any typical lead form. This data was appended to the original data as part of the pre-screen/soft pull process. Outside of the obvious benefit this gives the dealers BEFORE THEY CALL THE CUSTOMER for the first time, here are a few others you may have not been thinking about:

  • Real Time Data – (if you pulled a credit bureau today the numbers would match exactly)
  • No Hard Inquiry On Consumers Credit Bureau
  • SS# Not Needed To Obtain Data
  • Avoid Hard Copy App
  • Avoid Risk Based Pricing Notice
  • Avoid Adverse Action Letter
  • Avoid OFAC Red Flag
  • Avoid Privacy Notice

This data will CHANGE your dealership's selling process in store and here’s how.

 

 

 

 

 

 

 

 

 

 

Dealers can use this pre-screen process in other areas of their business such as:

  • Showroom Sales
  • Service Lane
  • Batch Offer Events (like Capital One Mailers)
  • Online Applications
  • Email Blasts
Sam Adams
If you're making a firm offer of credit, how is it that Risk Based Pricing is not required?
Dave Page
Risk Based Pricing is an Action required when a consumers key Identifiers (ss#, DOB) have been collected by a credit facilitator or credit grantor for the sole purpose of an application for credit. A soft pull, pre-screen, or promotional pull is one that pre-approves the consumer based on pre set criteria, called a scrape or decision model, that allows for a consumer to be pre-approved, or pre-qualified without the utilization of key identifiers (ss#, DOB). Since there is no such thing as a “decline”, or adverse decision in a pre-screen, the FTC does not require an entity to notify the consumer that they have in fact not qualified for the offer. The actual law on the books is 15 USC 1681 et seq. Hence, a pre-screen is not considered an “application” by the FTC, and no compliance that would normally burden a dealer with a full application is required. The only requirement by the entity, is that if a consumer meets the “pre-screen” criteria, that an offer of credit is provided to the consumer.

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