Auto by Auto Experts: Tammy Kaverman
Auto lenders and dealers want more knowledge and faster information about their markets and customers—on and off the lot so they can quickly close deals and grow their businesses. The Automotive Solutions team at Equifax is uniquely qualified to help with this and provide insights that drive results based on their 360 degree automotive expertise and respective tenures in the industry.
Our team has over 500 years of combined experience with lenders and dealers, either having lenders and dealers as their customers or in various strategic leadership roles. This means we have been in your shoes, and know what you need to help accelerate growth. This also means we care deeply about the industry that we’ve dedicated our working careers.
This Q&A blog series will highlight our experts and give you a glimpse into their background, accomplishments, view on the industry and even a peek into their “softer” side.
Q: What’s your background and how does it benefit lenders & dealers?
A: I have over 20 years of diverse experience — working for both national dealer groups as well as Fortune 500 lenders. Therefore, I have the ability to understand our customer’s business (both dealer and lender side) and can marry that perspective with various Equifax solutions in a very consultative approach. I thrive on getting creative and finding new ways to make things happen for our customers based on their needs and business objectives.
Q: What value does Equifax provide for lenders and dealers alike?
A: Equifax is a leader on providing industry solutions in both the lender and dealer world. We have the ability to drive insights based on the accumulation of data we have. One of our most prized and differentiated solution setsare income and employment verifications from The Work Number®. For dealers, verifications can be used throughout the car buying sales process – before the consumer gets into the car to test drive to ensure affordability, as a fraud and compliance tool and in the F&I office as a stipulation clearing tool. For lenders, it can be used at application, approval and funding across the credit spectrum to help reduce fraud and mitigate risk. There is nothing remotely close to this product available today.
Q: Where do you see the auto industry for lenders and dealers in five years and why?
A: The next five years will prove to be challenging for both lenders and dealers. The current regulatory environment may change some, but lenders continue to struggle to meet Return on Asset expectations, losses continue to rise, and this will directly affect the dealers overall vehicle sales. If lenders continue to tighten up on loan originations, dealers will need to find alternative ways to deliver vehicles.
Q: Why do you love working at Equifax on the automotive team?
A:. Equifax is 118 year old company with solid integrity and great people. The auto team is diverse and has deep automotive experience. We are constantly sharing industry knowledge in order to achieve more together—the comradery is great!
Q: What do you enjoy when you are not focused on auto and data insights?
A: My family loves to boat, golf, fish and travel – and we make sure we do it together—enjoying all of these activities whenever we can!
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