The automotive industry is shifting: Consumers are calling the shots and are more empowered than ever as they go through the car buying journey. They are demanding a more transparent, digital and faster process. Dealers and lenders alike must adapt to capture new customers while maintaining loyalty.
Equifax offers a suite of products and services developed especially for the auto industry. Determining a potential customer’s ability to pay utilizing The Work Number from Equifax delivers results within seconds—24 hours a day, 365 days a year—whenever car buyers are shopping. The Work Number® database contains income and employment records from tens of thousands of employers—public and private, small to large, across a variety of industries.
For additional transparency into household income on both employed and self-employed borrowers, Equifax offers a suite of income solutions that rapidly vet the consumer’s ability to pay: IRS tax transcripts - Form 4506-T, annualized income, and personal income models are just a few. Make sound auto lending decisions, without impacting your sales cycle, by using income and employment verification solutions from Equifax.