Posts Tagged ‘experian


BHPH Business, Not All Bad News. . .

Negative publicity for the Buy Here, Pay Here business lately in a couple of California newspapers. The scrutiny of the Buy Here, Pay Here business is nothing new but some industry experts are chiming in to let all know that there are lots of positive points to the Buy Here, Pay Here business. Counsel for the National Independent Automobile Dealers Association (NIADA) said, buy-here, pay-here plays a vital role in getting people back to work and keeping them employed and “if you want to get the economy growing, people need access to affordable transportation”. So it’s not all bad news for those in the Buy Here, Pay Here business and most importantly for those that need to, are able to take advantage of it. Experian Automotive analysis found that, “buy-here, pay-here attracted better vehicles and better customers than many believe.” And, “only 8 percent of the cars in the buy-here, pay-here deals Experian looked at had major issues reported in AutoCheck vehicle history reports”.

To read the full article in Used Car New, please click here.


Auto Finance Trends Looking Good

Looks like the auto finance marketplace is stabilizing or at least that’s what Experian Automotive’s director of automotive credit sees for the first quarter of this year. The overall higher tolerance for risk seems to be paying off with drops in 30 and 60-day delinquencies having the largest drops; 30-day delinquencies at their lowest point since 2008 and 60-day delinquencies dropped by 13%. With the stabilizing of the auto finance market, it allowed more lenders to have a higher tolerance for risk therefore giving consumers more opportunities to get a car loan. This quarter was also the best time in the past 30 months for consumers to get a car loan and it looks like this will continue.

To read full article in F&I Magazine, please click here.


A Better Way to Manage Credit Reports

Did you know that Nowcom is one of the largest authorized credit resellers in the nation?  That is why Dealer Desktop credit-scoreusers have access to three credit bureaus: Experian, Equifax, and TransUnion.  Running credit reports on your customers is vital to your business.  If you want to find the vehicle that is most suitable for them, then you need to know their credit score.  Whether you want to print the applications, set appointments and call backs, run the reports, or even store customer files, Dealer Desktop has it all with the customer and credit module.

If your customers are looking for ways to improve their credit score than direct them to this article.  Do you know of any other useful ways to improve credit scores?


November 2019
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