The Nation's Largest Source of Alternative Credit Data Made Available to Buy-Here-Pay-Here and Various Other Credit Providers
Provide critical insights into a consumer's stability, ability, and willingness to repay, that is not available on a traditional credit report
Speed up decisioning by having this additional data available to your lenders
Reliable data that can mean the difference between funding and not funding a questionable buyer
Alternative data is non-traditional credit data such as: payday loans, rental payments, utility companies, student loans, public records, title loans, drivers' licenses, secured/unsecured loans, unique social security #'s, and short-term installment loans.
CBC's eClear Credit Risk Report "alternative credit data" credit report is designed for buy-here-pay-here dealers and automotive lenders in the sub-prime space. Powered by Clarity Services massive consumer database, you can now receive valuable insight into the credit worthiness and risk level of your buyers based on data not delivered with traditional credit reports. This enhanced consumer assessment will allow BHPH, independent dealers and lenders to recognize potential risk prior to contracting a high-risk, bad payer.
In a world that is more data-driven than ever and something that is, at least, partially driving this momentum can be best explained by a finding from an Experian survey: "70% of consumers are willing to provide additional financial information to a lender if it increases their chance for approval or improves their interest rate for a mortgage or car loan".
This "additional information" is what we mean when we say alternative credit data. This generally includes data that is not found in a traditional credit report. This can include, but is not limited to, alternative financial services data, rental data, full-file public records and account aggregation. Alternative Credit Data has already become a staple because it allows for better decisioning when determining credit worthiness.
Do you offer in-house financing? Then eClear Credit Risk Report is the ideal solution for you. CBC's eClear Credit Risk Report provides invaluable insights into credit worthiness and risk, and is powered by Clarity Services.
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Credit Bureau Connection (CBC) and Clarity Services have partnered to now provide thousands of automotive dealers a first-of-its-kind, comprehensive view of a consumer's credit history.