There is only a 96-point spread between the top credit tier and a lower tier, excellent credit versus credit challenged. That small difference gives dealers an opportunity to put their customers into a higher tier by simply pulling from one or multiple bureaus. By pulling from several bureaus, you may be able to qualify your customers for a better interest rate and give them a positive experience with your business. Your dealership may also benefit from the prospect being pulled into a higher tie by receiving more reserve income on the loan.

The difference in point spread among the credit bureaus can range from 5-100 points, averaging around 50. Different scores occur for several reasons: data reported in the credit file being sent varies by bureau, data from lenders is reported to the agencies on different dates, data may be missing for one agency, old data may be closed at one bureau but still used at another, and reporting errors may only appear at one agency.

As a dealer, know which agencies your lenders accept, especially if your customer falls just a few points shy of the next tier. Some lenders will look at more than one agency, but only if asked by the dealer. Deal Pack Pro is integrated for Credit Pulling with Experian, Equifax, and TransUnion and will display the Credit Report on the prospect within the system. Contact an account specialist toll-free at 1-800-526-5832 today for more information.