Fastest Finance Results: First Approval's "Know Now"

Share Article

"Know Now" Provides Fast Answers To Dealer's Customers On The Results Of Their Finance Application.

"The first response to a Finance Application needs to be fast - and it needs to include the caveat that the best response may still be coming - that is how you keep your finance customers", Myril Shaw, COO, First Approval Source

First Approval Source, the premier financial service provider, trainer and consultant to Marine, RV and Power Sports dealers, announces general availability of its "Know Now" program to ensure, in cooperation with its dealer partners, the fastest responses to consumers requesting financing from Marine, RV and Power Sports dealers. With "Know Now", dealer's customers can get details on their initial financing opportunities within 40 minutes of the complete application being submitted.

Relying on its technology heavy approach to providing F&I services and solutions, "Know Now!" from First Approval Source flows from electronically submitted on-line credit applications which are processed and then electronically submitted to lenders. The lenders, in most cases, process and analyze credit bureau and credit application data to return "system responses" without the need for human involvement and those responses flow directly back to First Approval Source. The length of the entire process can be measured in minutes.

"Of course, there are variables," explains Jeff Backus, Vice-President at First Approval Source, "Credit approval programs and criteria vary from lender to lender, and not all shoppers are created with identical credit profiles. That said, it is usually a great thing to get back to a customer quickly with a real result for their financing request and then be able to explain that other answers may still be forthcoming and it may take up to a few hours longer to get the best results."

The "Know Now!" program is coupled with First Approval Source's "First GlanceSM", which delivers dealers a leading indicator of the probability of financing success and process duration for each buyer within minutes of receiving a Credit Application and before it has been submitted to a lender.

Adds Myril Shaw, Chief Operating Officer for First Approval Source, "Our mission is to deliver F&I excellence to our dealer partners and their customers. Not every dealer, nor, for that matter, every dealer's customer has the same appetite for speed over finality, so we work with our dealers to use these programs in ways that best satisfy the demographics of their client base. We are excited to be delivering services that can meet the requirements and desires of all of our dealer partners and their customers."

About First Approval Source: Since 2012, First Approval Source has been delivering F&I Training, Consulting and the provision of comprehensive F&I Services to Marine, RV and Power Sports dealers across the country. First Approval Source offers, for its full service dealers: "First Glance" - Fast indication of financing success; "Know Now" - Immediate customer contact with financing request results; "Flex Fees" - Accelerated dealer profits based on F&I sales volume; "Pre-Qual" - Soft credit pull technology for website, in-store or at-show use providing a complete credit profile with no impact on the buyer's credit score; "Score Up" - Bureau based rapid rescore and score improvement based on analytically targeted repayment of specific bureau based accounts; "Results Now" - Secure, private web-based access to every deal that is in-flight and reporting on every deal that has happened; Complete service - From application processing through loan sourcing, from terms negotiation through complete backend sales, from closing document preparation through lender funding. Dealers needing just an F&I refresh or desiring a full in-house F&I department can call of First Approval Source for on-site or web based, customized, training and consulting. First Approval Source works with 25% of the Top 100 Marine Dealers.

Contact First Approval Source at:; 1-678-866-8954; info(at)firstapprovalsource(dot)com.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Myril Shaw
Follow >
First Approval Source
Like >
Visit website