OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--vAuto is introducing a Subprime Booking module as part of its Provision® system to help dealers address the challenges of properly acquiring subprime inventory and matching credit-challenged customers to those vehicles.
vAuto will unveil its new Subprime Booking module at the National Automobile Dealers Association (NADA) convention this month in San Francisco (Booth 1718S).
“With some analysts predicting double-digit increases in the number of subprime used vehicle financing deals in 2015, it’s ever-more important that dealers proactively take advantage of increased retail opportunities in this market segment,” says Dale Pollak, vAuto founder and executive vice president at Cox Automotive. “vAuto’s new Subprime Booking tool helps dealers address two of the persistent challenges they face with credit-challenged customers—stocking cars that will meet lender criteria and matching these cars to subprime customers right away in their sales processes.”
As the latest innovative module in vAuto’s Provision used vehicle inventory management system, the Subprime Booking tool helps dealers:
- Easily determine the subprime potential of every auction or trade-in appraisal
- Verify multiple lenders’ criteria against any appraisal at once
- Arm sales teams with available subprime inventory to efficiently match customers to the right cars early in the sales process
”Dealers often feel frustrated that they’re missing subprime deals because they can’t get customers ‘bought’ in the F&I office,” says Randy Kobat, vice president and general manager for vAuto. “The Subprime Booking module eliminates this frustration by giving dealers the opportunity to instantly recognize a vehicle’s fit as a subprime unit and helping their sales teams connect credit-challenged customers with the right cars before they get to the F&I office.”
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase sales volumes and profits. Founded in 2005, vAuto revolutionized dealers’ used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto’s visionary founder, Dale Pollak, the Provision suite guides used vehicle acquisition, appraisals, pricing, merchandising and more based on real-time, local market supply-and-demand data. In 2014, vAuto combined the Velocity method with the power of incentive management to create the Conquest™ new vehicle inventory management and pricing tool. In addition, vAuto Genius Labs provides smart, simple and stand-alone solutions including AuctionGenius. Headquartered near Chicago, Illinois, vAuto is wholly owned by Cox Automotive™, which also includes Manheim Auctions, AutoTrader.com®, Kelley Blue Book®, Xtime®, VinSolutions® and Haystak® Digital Marketing and HomeNet Automotive®. For more information, visit www.vauto.com.