First Approval Source Launches “Pre-Qual” Providing Dealers and Consumers Credit Qualification Information With No Impact on Credit Score

Share Article

No impact Pre-Qual provides users and dealers with detailed credit profile information while not impacting the customer credit score.

First Approval Source, the premier financial service provider, trainer and consultant to Marine, RV and Power Sports dealers, announces general availability of its “Pre-Qual” program to ensure, in cooperation with its dealer partners, the ability of customers to see what level of loan that they are qualified for without impacting their credit score. Customers can complete a simple form with just their Name, Address, Phone Number and Email (no Social Security or Drivers License) and see if they will qualify for a loan.

Relying on its technology heavy approach to providing F&I services and solutions, “Pre-Qual” from First Approval Source (provided by Drive-It-Now) flows from electronically submitted on-line “Get Pre-Qualified” forms. The results from these submissions are immediate and let both the dealer and the customer know how their credit stands relating to financing their purchase.

“90% of the time we get solid returns that we can work with,” explains Jeff Backus, Vice-President at First Approval Source, “Pre-Qual is a great program for both customers and dealers. We know up-front exactly what a customer’s credit profile looks like With that information we are able to help direct both the customer and the dealer to a unit that is best suited to the customer’s lifestyle choices.”

The ”Pre=Qual!” 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 Fess” – 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: http://www.firstapprovalsource.com; 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
@FirstApproval
Follow >
First Approval Source
Like >
Visit website