FOR IMMEDIATE RELEASE:
Vincentric Releases Automotive Lending Decision Support Tool
BINGHAM FARMS, Michigan – November 13th, 2012 – Vincentric, the leading provider of automotive cost-of-ownership data in the U.S. and Canada, announced today the addition of an automotive lending decision support tool to its current product line. The Vincentric Dynamic Cost to Own system can now be used to support automotive lending by providing unique insights into ownership costs of new and used vehicles, resulting in the ability to make more informed loan decisions. Benefits include a better understanding of customers’ total ability to pay, lower delinquencies, and the ability to identify cost-appropriate vehicles for each consumer.
"Automotive loan decisions often focus on consumer credit worthiness and incorporate typical loan to value ratios. However, one factor frequently overlooked is the cost to own and operate the vehicle after the sale," stated David Wurster, President of Vincentric. "When these costs are factored into the loan decision process, lenders can use this knowledge to reduce loan delinquencies and defaults."
Automotive lenders can add this additional layer of insight in real time using the Vincentric Dynamic Cost to Own web-service, resulting in decreased loan portfolio risk while at the same time growing the total loan portfolio.
Further information regarding the automotive lending decision support tool can be found at www.vincentric.com or by contacting Dave Freed, Vincentric Managing Partner at firstname.lastname@example.org.
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. The data is used by organizations such as Yahoo! Autos, AOL, Cars.com, Chevrolet, Toyota, BMW, Mercedes-Benz, Kiplinger.com, Business Fleet Magazine, Volvo, NADA Guides, The AutoChannel.com, and Fleet-Central.com as a means of providing automotive insight to their clientele. Vincentric, LLC is a privately held automotive data compilation and analysis firm headquartered in Bingham Farms, Michigan.
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248-430-4121 ext. 109
©2012 Vincentric, LLC, All Rights Reserved.
For more information on this Automotive Lending Support tool, please click here.