Dealers have a suite of lending resources at their fingertips with a new industry partnership. Pre-Pair, an F&I lending and sales tool that originally debuted in October as ReserveMax, has broadened its abilities by collaborating with 700Credit.
Pre-Pair now includes 700Credit’s soft pull prequalification tool. The feature provides consumers with a FICO credit score, auto tradeline summary and a full prequalification report.
Pre-Pair CEO Stephanie Alderman said the feature “will enable dealers to empower their sales folks with more information and help their customers when they are financing by allowing them to figure out their financing needs and capabilities earlier in the process.”
According to Alderman, Pre-Pair chose to integrate 700Credit’s tool because of the data range provided. In addition to soft pulls, 700Credit’s auto tradelines summary includes consumers’ current monthly payments, auto loan interest rates, remaining balance/payoff payment history and remaining months on auto loans.
Alderman said the soft pull gives dealers additional information to navigate the lending process.
700Credit Managing Director Ken Hill said the integration “provides consumers with the right deal, from the right lender at the right rate—which, in turn, reduces the time it takes to fund a deal and sell a vehicle.”
Pre-Pair will soon reveal additional partnerships and upgrades within its F&I and sales platform.
