DriveItNow announced on Wednesday the pilot release of its Credit Center technology, which is designed to streamline the consumer financing process on automotive dealer websites and portals.
Credit Center allows online shoppers to explore various credit services from one platform without having to provide sensitive information such as Social Security number or birth date.
Dealers can choose which features of Credit Center they want to offer—available services include short-form finance applications with instant pre-qualification, shop-by-payment functionality, trade-in equity analyzer, loan and lease special promotions and pre-qualified monthly payment buttons on vehicle inventory.
“DriveItNow’s Credit Center ties all auto finance-related services together through one simple-to-integrate platform,” DriveItNow President Tarry Shebesta said. “Online shoppers can easily access what they need in one place without having to provide personal information or complete multiple forms.”
The platform is driven by DriveItNow’s pre-qualification payment technology. Monthly payments displayed in vehicle listings show the dealer’s lender programs and reflect the consumer’s credit profile. Required federal disclosures are provided to the consumer, ensuring compliance with regulatory requirements.
“Other industry services that quote monthly payments and finance rates are not always consistent across a website and are not based on the consumer’s actual credit profile,” Shebesta said. “Shoppers see best-case scenarios which may give them an unrealistic expectation of what they can actually buy.”