Our Credit reporting partner is the leading source of credit reporting and compliance solutions designed for the automotive industry.  Simple yet powerful, 700Credit offers quick and easy access to the information you need about your customers, your client base, and your dealership personnel and their performance.

At 700Credit, they understand that the time and money spent on each customer is critical, and all 700Credit solutions have been developed with this in mind.  Simple, yet powerful features include adding prospects, running credit, verifying identity including red flags, marketing source analysis, demographics, sales performance and more.

How it works

Credit Reports are the most common and standard type of report accessed.  We offer access to reports from the leading national credit repositories Experian, TransUnion and Equifax.  Credit Reports contain information from credit grantors, courts, and collection agencies regarding the historical loans by the consumer.  Credit Reports also include Scores (FICO and Vantage), and public records such as judgments, liens, and bankruptcies.  Credit Reports may include previous employers, addresses and other names used.  All 700Credit clients receive their choice of report format, score and ancillary products.

FICO Scores

Lenders use FICO scores to statistically rate the likelihood that a consumer will pay the requested loan.  Dealers use FICO scores to match applicants with the appropriate lender and program.  700Credit offers ALL FICO scores available, i.e., standard bankruptcy, automotive enhanced, classic scores, and next generation scores.

Vantage Score

Vantage Score is a new generic credit scoring model that opens doors to the opportunities that having credit creates. Created by America’s three major credit reporting companies, VantageScore’s highly predictive model uses an innovative, patent-pending scoring methodology to provide lenders with a consistent interpretation of consumer credit files across all three major credit reporting companies, and the ability to score a broad population.  This means lenders can help more creditworthy borrowers, and millions of Americans who use credit infrequently can be accurately scored.

Credit Report Summary

Provides a “snap shot” of activity in the credit report.  Returned at the top of the report credit report summary, it helps analyze the most significant factors in a consumer’s credit file.  This powerful tool contains many key calculations from the credit profile giving you a picture of the consumer’s debt, monthly obligations and payment history.  Also, users are alerted to derogatory items like public records, number of collection accounts, number of derogatory accounts, and more.

sales@virtualmotors.com
Phone 831-308-0404