IVENDI has launched a new online tool to allow dealers and buyers to look at detailed information about motor finance eligibility.
Showroom Eligibility works for any dealer’s panel of lenders and allows visibility into three key sections – credit rules, applicant rules and vehicle rules.
It is designed to be used by dealer and buyer together, looking at a wide range of different finance products with user control over the finance pricing.
Where it appears that an applicant may be turned down, Showroom Eligibility provides guidance about the rejection factors, so that they can be potentially corrected or other products tried instead.
James Tew, CEO at iVendi, said: ‘On one level, this product is a new way for dealers and buyers to look together at motor finance offers in the showroom, looking at the potential benefits of each to find the best offer.
‘It also provides accurate information about the likelihood of being approved for a specific finance application, something that provides reassurance for the the buyer and also allows the sales person to use their time much more efficiently.
‘However, what we believe to be unique is the way in which this product creates, really for the first time, a means by which the dealer and buyer can dig down into the factors behind motor finance eligibility.
‘This creates a level of insight and potential control over the motor finance process that has never previously been available. Interest from dealers is already high.’
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