Auto Trader has partnered with Experian, giving dealerships and brokers a more insightful view of a potential customers’ affordability.
Sellers on the Auto Trader AutoConvert platform will have access to Experian bureau data, improving credit-risk decisioning processes and providing more insight into a customer’s suitability for lending. Only applications that pass borrowing criteria will be submitted to the lenders and dealers.
Fiona Mackay, head of automotive finance and leasing at Auto Trader, said: “Utilising Experian’s world class bureau data will play a key role in our commitment to making the car buying experience as efficient and convenient as possible.
“As well as driving more efficiencies through the AutoConvert platform, it will be an important component to our future finance proposition on Auto Trader. This will benefit both consumers and our more than 13,000 retailer partners as we look to enable them to offer the hybrid retail experience today’s car buyers are looking for.”
As part of the agreement, Auto Trader will also be working with Experian to deploy an enhanced car finance eligibility service. For consumers, it will mean they have a clearer picture of the financing options available to them – without it affecting their credit score – giving them the confidence to go ahead with their purchase.
Gerardo Montoya, managing director of Experian Automotive UK & Ireland, added: “Experian data insights are renowned for helping businesses from across sectors make faster, more accurate, and better decisions, bringing enormous benefits to both them and their customers.
“We’re delighted to be partnering with Auto Trader, a name synonymous with the car industry for more than 40 years and who are at the forefront of improving the digital car buying journey for buyers and sellers.”
Auto Trader recently published its performance results for September, revealing record price growth for used cars.