Autotrader’s My Wallet can generate specific financing details during online shopping journey

Well done Jessica Stafford & Autotrader US!

When making a large purchase decision like buying a vehicle, Autotrader stressed that consumers need to understand not only how it fits into the overall big picture of their finances but also how it impacts their monthly spending.

My Wallet can help guide shoppers through setting up their budget so they can get personalized pricing and monthly payment details as they browse, select and move toward a purchase, giving shoppers more accurate pricing than other listings providers.

To activate the power of My Wallet on Autotrader, shoppers can enter their individual purchase details, estimated credit score, desired term, down payment and trade-in value that is seamlessly generated through an integration with Kelley Blue Book’s

Powered by Cox Automotive Inc., My Wallet can generate the deal pieces earlier in the shopping journey, allowing consumers to determine their trade-in, down payment, financing terms and credit range on every vehicle listed on Autotrader.

We, at DecisioningIT have created an API which allows automotive websites and other online digital retailing tools to pre-qualify consumers, regardless of their credit history.

Unfortunately the credit score isn’t sufficient to pre-qualify consumers that fall under the subprime and deep subprime segment.

There are so many aspects of a consumer credit file (EquifaxTransUnionExperian) that make it or break it, that you cannot rely on just the credit score. Collections, judgements, bankruptcies, consumer proposals, active trades, past auto trades, etc.

Some financial institutions even rely on bank statements to make their lending decisions and not the credit score nor the credit file.

Of course, DecisioningIT and its Lucy Platform and suite of tools can pre-qualify consumers based on the full credit file or bank statements.

Find out how you can add the Lucy API to pre-qualify 85% of your in store or online consumers, regardless of their credit history.

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