The automotive industry is shifting…consumers are calling the shots and are more empowered than ever as they go through the car buying journey and are demanding a more transparent, digital process. Dealers and lenders alike must adapt to keep capture new customers and maintain loyal ones as well.

“I’ve used Equifax [credit reports] for 43 years …
they provide a valuable service at a fair cost.”
--Billy Threadgill, Owner, Van’s Auto Sales, Florence, SC

Solutions for Auto Dealers

Encrich Accounts

 

90% of the car buying process happens online1

Family Tree

 

Dealerships typically close less than 24% of deals that come into the showroom2

Solutions for Auto Lenders

Encrich Accounts

 

More than 50% of time in the dealership is spent in the F&I office.3

Family Tree

 

Dealers lose more than 50% of customers in their first three years of car ownership.4

Resources

1 - AutoTrader Car Buyer Journey 2017
2 - eLend Solutions
3 - 1AutoTrader/KBB Car Buyer Journey Study
4 - Statistics based on credit bureau performance analysis for auto loans originated in 2014 and appended to consumers from The Work Number database. These auto loans were evaluated over a 12 month period and 60+ DPD delinquency rates were monitored as a performance measure from 2014 to 2015.