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Employment Insights for Prequalification and Financing

Employment Insights designed for auto dealers, is an integrated solution delivering verified employment/income data alongside the Equifax Credit Report. It uses data from The Work Number® to reduce the need for manual documentation, and helps accelerate deals right in the showroom.
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Verified Employment & Income Insights to Support Confident Auto Financing

Employment Insights for Prequalification and Financing is an integrated solution designed for auto dealers to deliver key employment and income verification information seamlessly alongside the Equifax Consumer Credit Report. 

In the fast-paced auto showroom, this product eliminates the significant bottleneck of relying on stated income and manual collection of documentation (STIPs). By leveraging trusted data from The Work Number® database, it allows dealers to make more confident, risk-mitigated decisions earlier in the process. 

Employment Insights for Prequalification
High-level view to segment borrowers and set expectations at the initial shopping stage. 
Employment Insights for Financing
Verification report at deal closure to clear lender stipulations and finalize the package, including SSN/Name Match.

Improve Dealership Customer Experience

Leverage The Work Number® data at two critical points: Prequalification and financing. Reduce reliance on manual documentation (STIPs), mitigate risk with SSN/Name Match, and deliver a faster, smoother customer experience.

Prequalification at the Dealership

Segment borrowers and set realistic expectations early in the shopping process.

Financing at the Dealership

Provide comprehensive verification, clear lender stipulations, and help finalize the deal.

Streamline Prequalification and Financing

  • For initial shopping, the Employment Insights for Prequalification solution gives dealers an early, high-level view of a consumer’s financial stability. This allows staff to efficiently segment borrowers, set realistic expectations, and reduce the need for further documentation requests (STIPs) later in the process
  • At the point of deal closure, the separate Employment Insights for Financing solution provides a comprehensive verification report to help finalize the financing package. This report is used to quickly clear lender stipulations and also includes an SSN/Name Match to provide a crucial layer of identity verification and fraud mitigation.

Invest in the Future of Auto Finance Verification

Stop losing deals to slow, manual verification processes and the uncertainty of stated income. Employment Insights is more than a data solution; it's a direct investment in your dealership's efficiency, risk mitigation, and customer experience. 

By instantly delivering trusted, employment and income data from The Work Number® alongside every credit report, you gain the power to make faster, more profitable decisions from prequalification to final financing. Reduce STIPs, mitigate fraud, and deliver the smooth, rapid approval experience today's customers demand. 

Equifax data can help you transform your showroom, accelerate deals, and secure more business.

Frequently Asked Questions

Equifax’s Employment Insights is an integrated solution for auto dealers that provides verified employment and income information delivered seamlessly alongside the Equifax Consumer Credit Report. It is designed to supplement slow, manual verification processes with instant, reliable data.

The solution accesses trusted, current employment records directly from The Work Number® database, a leading commercial source for verified employment and income data.

The product is used at two critical stages of the deal:

  • Prequalification: Used in the initial shopping stage to give a high-level view of financial stability, helping dealers to segment borrowers and set realistic expectations.
  • Financing: Used at the deal closure stage to provide a comprehensive verification report that helps clear lender stipulations (STIPs) and finalize the financing package.
     

The Financing solution helps mitigate risk by including an SSN / Name Match to validate the borrower’s identity. Additionally, using verified data from The Work Number helps ensure the employment and income information you rely on is current.

These solutions are exclusively available through Equifax's existing data and technology partners. Please reach out to your current provider to inquire about availability.

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Integrate key employment and income verification data alongside the Equifax Consumer Credit Report. This solution is designed to help auto dealers make faster, more confident prequalification and financing decisions.

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Accessing these Valuable Solutions

Employment Insights for Prequalification and Financing are only available through vetted and integrated data and technology partners. Please contact your current provider to inquire about availablity.

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