Win more customers by focusing on what matters most to them

Seasoned salespeople can predict what a prospective customer wants in a vehicle after a few minutes of conversation. But in an era of online shopping and research, automotive marketers often lack the advantage of face-to-face buyer interaction. Instead, you’re forced to segment vast numbers of customers and prospects into fairly generic groups, which zaps your [Read More…]

Use existing CRM data to uncover high potential auto shoppers

In today’s business environment, working smarter is not a luxury. It’s a necessity. Yet despite budget belt-tightening, many auto marketers are spending millions of dollars marketing their latest and greatest vehicles to consumers who may not be a good financial fit for their brands and models. Equifax financial solutions can enhance existing shopper records to [Read More…]

Autotrader’s Car Buyer of the Future Study

Autotrader’s Car Buyer of the Future Study looked at the current shopping, buying and ownership process and asked more than 4,000 consumers about their ideal process. The study was a multi-stage approach with both qualitative and quantitative research. The study identified key areas where consumer demand is influencing rapid change, as well as important insights [Read More…]

Update Your Scorecard to Win

Tax season is sending loan volumes soaring, making right now the ideal time to freshen up your scorecards. It’s a smart, cost-effective way to better maximize every opportunity that walks through the door enabling you to win more customers without taking on more risk. So, where do you start? Here are a few ideas to [Read More…]

Equifax Releases its Latest Economic Trends Commentary Around Subprime Auto Loans

On February 18, 2015, Equifax released its latest Economic Trends Commentary, “Subprime Auto Loans: A Second Chance at Economic Opportunity,” which examines two groups of consumers with deep subprime credit scores (Equifax Risk ScoreSM below 550) over a three-year period: those who originated a subprime auto loan and those who did not. Equifax found that [Read More…]

Auto Advertisers Need to Leverage Offline Insights Online

It’s in an auto advertiser’s best interest to leverage additional data sources and tools to drive the best online marketing results. But auto makers are also sitting on top of tons of their own data, and that data is extremely valuable when it comes to online advertising. The issue is that it’s offline and needs [Read More…]

Balance of Auto Loans Tops Record-Breaking $900 Billion

Recent studies on the balance of auto loans show that consumers are borrowing more money to buy new vehicles, and loan-delinquency is at an all-time low.

Subprime Vehicle Financing at a Seven-Year High

SubPrime Auto Finance News recently published an article regarding the surge in subprime vehicle financing.  In fact, the numbers for March 2014 came in at $13.1 billion, higher than any single month for the past seven years.  But while the total dollar amount is at historic highs, the average amount per subprime loan came in [Read More…]

Auto Lending Sector Enjoying Boom Times and Record Credit Numbers

Boom times are back, and the auto lending sector is still going strong in 2014, according to the most recent Equifax National Consumer Credit Trends Report. “Auto lending continues to lead the recovery,” said Amy Crews Cutts, Chief Economist at Equifax. According to the report, while new sales in the auto industry have driven the [Read More…]

Automotive Fraud: Income Misrepresentation

Automakers are back on top, showing their best sales in 8 years. Consumers who previously struggled to free up the capital for a car loan are able to qualify again. Still, just because some consumers are playing nice with the auto industry, doesn’t mean all are. In a recent research study, Equifax found that almost [Read More…]