Equifax unveiled it's newest generation of Equifax Verification Services at the recent NADA Convention in New Orleans, enabling automotive dealers and lenders to more efficiently verify income and employment - and for the first time - rent, auto insurance and address.
As the auto industry nears the peak 2014 selling season, these tools allow dealers and lenders to shift their focus to what counts; delivering vehicles.
Verification of rent, auto insurance, and address - as well as income and employment- are crucial components of ensuring that lenders have the right information when booking loans and mitigating loss.
This burden of verification has fallen mainly to dealers which is time consuming and keeps them from doing what they do best - selling cars.
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