Predictive Lending for Auto Dealership Financing from SelectFI

SelectFI^® Lender Selector^® is Predictive Lending^™ software that allows dealerships to instantly generate multiple financing estimates for each of the dealer's lenders from a soft credit pull. The result is higher closing rates, better efficiency for your team, and greater regulatory compliance.

Soft credit pulls save transaction costs
No impact on customer credit scores
Estimate financing from all your lenders at once
Use your existing F&I workflow

Enhance FTC fair lending compliance
Control how financing is presented to customers
Improve backend
Set customer expectations for affordability early in the process

A Better, More Intuitive Process for Dealerships and Customers

Step 1

Customer Enters Basic Information

Only basic customer information (name, address, birthdate) is needed for the soft credit pull. No SSN required! Your sales and business development teams can prompt a customer to enter their information via email or text. There's no impact on customer credit scores.

Step 2

Gain Customer Permission with Electronic Signature

Using electronic signature, the customer grants permission for us to soft pull and share information with the dealership.

Step 3

The Customer Inquiry Becomes a Lead

Your sales or business development team is alerted to get started with customer. The customer's previous estimates are available in Lender Selector^® for the entire process.

Step 4

Your Team Assigns Vehicle to Customer

By entering just the VIN, you assign a vehicle to the deal and we automatically book the vehicle using the same value sources used by your lenders.

Step 5

Financing Estimates in Seconds!

Our proprietary process analyzes the customer's credit profile and matches all lenders based on their lending guidelines and the most recent decision data.

Step 6

Review Lender Deals and Choose Which are Best

Every lender estimate shows rates with standard margins, as well as maximum dealer reserve and products permitted to be financed in the backend.

Get a Live Demo of our Predictive Lending^™ Technology

The Advantages of Predictive Lending for Auto Dealership Financing

No Impact on Customer Credit Scores

Soft credit pulls do not impact customer credit scores, which helps to reduce the resistance that customers raise when it's time to estimate their financing. Many of our clients encourage customers to complete our simple process before coming to their lot.

Fair Lending Compliance Tools

The threat of penalties and lawsuits related to fair lending regulations is ever present on the minds of our clients. SelectFI gives you the tools and controls you need to standardize margins and implement compliance processes without adding complexity.

Soft Credit Pulls Save Transaction Costs

You don't need to pay for hard credit pulls to understand how your lenders will finance each vehicle. For a fraction of the cost, we soft pull all three credit bureaus to produce highly accurate vehicle financing estimates for each of your lenders and give you visibility to the customer's full credit profile.

Amazing Efficiency

SelectFI simplifies and improves the way your team accesses and internally works out a deal for customers. The process reduces errors and speeds up the F&I process for each transaction. Your team will be amazed by the results once they experience our Lender Selector software.

Let Us Show You How We Do It!

Be the Customer's Financing Hero

Set Customer Expectations Early

Using multiple credit bureaus and options from more lenders offers transparency and optionality for the customer. Early in the process, your team can steer customers into the vehicle that makes sense for the payment they can afford. You can establish greater trust with the customer and improve your chance to close financed deals.

SelectFI Automatically Matches More Lenders Than You Manually Can

Daily variances in the lending landscape make it harder to anticipate which lenders are likely to approve customers based on their credit profiles. Dealerships typically have an average of 25 lenders in their working portfolio; our software reviews every one of them to produce deals that might surprise even the most experienced finance expert on your team.

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Hard Credit Pulls are Costing your Dealership Too Much

SelectFi's soft pull provides all the same information and more that you can get from hard pull at a fraction of the cost, and with no impact to customer credit. Particularly in today’s credit environment, if you aren’t looking at all three bureaus, it could be costing you sales.

For your most challenging customers to finance, credit scores can vary by 100 points or more across the bureaus. Knowing where to look is critical, but utilizing hard pulls to do it is too costly. It quickly adds up - check out our Savings Calculator to see!

Check out our Savings Calculator

Driving Dealerships Forward