Predictive Lending for Auto Dealership Financing from SelectFI

SelectFI^® Lender Selector^® is a pre-desking solution that uses Predictive Lending^™ that generates multiple financing estimates for each of your dealership's lenders using a soft credit pull. Your team gets higher closing rates, faster, more accurate first pencil, 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

Structure the Deal

Select the customer's vehicle of interest and we automatically book the vehicle using real vehicle value sources and structure the deal with the customer's trade and cash down.

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

Payment Estimates with No Credit Impact

We generate payment estimates using the same factors lenders use (credit, collateral, trade), and a customer's credit profile is vital to quote accurately. To understand credit, we use soft pulls (which do not impact customer credit scores) to reduce any customer resistance. It also helps dealerships understand their customer early and set expectations for affordability.

Fair Lending Compliance Tools

The threat of penalties or lawsuits related to fair lending regulations is ever present on the minds of our dealership clients - regulators are more aggressively pursuing dealerships for violations. SelectFI gives you the tools and controls you need to standardize margins and implement compliance processes without adding complexity.

Increase Approval Rates

Lender Selector's greatest ability is keeping track of how lenders approve financing in the real world. We process thousands of transactions and monitor the lender approval behaviors to determine how future approvals will be made. Our client's approval rates increase because their sales and finance teams aren't struggling to determine which lenders and what payment to quote for each customer.

Amazing Efficiency

SelectFI simplifies and improves the way dealership teams work deals for customers. The process takes minutes start to finish and reduces errors and speeds up the F&I process for each transaction. Sales and Finance teams are amazed by the results once they fully utilize 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 Can Manually

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.

Find Out How Easy It Is to Get Started

Dealership Success Stories

Doug Indovina
Vice President Operations - Transitowne Auto Group

“Lender Selector offered us the best way to structure deals compliantly and without hurting customer credit. The process was easy to implement into our existing desking and F&I procedures and gives us better information to work every deal.

Now we’re confident that we can handle even difficult credit situations, give each customers great financing options, and protect our dealerships from today’s compliance risks in lending.”

Amy Bork-Enos
Owner/General Manager - Upstate Chevrolet

“This product has opened the door for so many more customers. We get much further those customers that previously would have resisted the idea of running credit. Customers won’t proceed without knowing their payment, and now we can show them that payment without impacting their credit.

Even our website leads are better quality and easier to close. We are getting tremendous value from SelectFI.”

Predictive Lending™