Instant Screen FAQs

Q - How much is it?
A - $99 per month connection fee and 99 cents per each Instant Screen.

Q - Is it legal?
A - Yes. According to the Fair Credit Reporting Act (FCRA) a dealer is a creditor and can "pre-screen" a consumer's credit as long as they are willing to offer "a firm offer of credit" based on any combinations of the "terms and conditions" listed in the terms and conditions summary above.

It must be noted a "firm offer of credit" is not at all a guaranteed offer of credit. A consumer still must fit all the terms and conditions, meaning if he falls short of job time, income or down payment, then they may not qualify for any credit, but yet the pre-screen was perfectly legal to perform.

Q - Are consumer credit pre-screens used in other industries?
A - Yes. Retail merchandising, and credit cards are two great examples. Have you ever been told you were "pre-approved" or "pre-qualified" for a store credit card at a high end retailer like Neiman Marcus, Saks, or Bloomingdales, etc. when you went to check out and paying with your Visa and asked if you wanted to get the card and save 10% or so on your purchase that day? If so you were "pre-screened"; you did not give them your SS#, fill out or sign a credit app or even ask if you wanted to be pre-screened. Of course you are not fully approved until you fill out an actual app and show you have a job and can pay the bill every month! A similar example is when you get a letter in the mail from a bank saying you have been "pre-approved" for a credit card up to "$20,000" or some other limit. Again you still must fill out the app to get final approval.

Q- What are my options for informing the customer they have been pre-approved for credit?
A- The dealership can give them a Pre-Approved certificate at the store (a great and positive way to let unsold showroom traffic leave the store!), mail it to the customer or have us mail it to the customer, email. It can also be given verbally, such as "Congratulations you have been pre-approved for an auto loan at our store for between $5,000 and $40,000 if you want to fill out credit application my finance manager can give you all the details."

Q- Can I "Instant Screen" my Internet Leads?
A- Yes. We can Instant Screen all your internet leads for you as long as they have a name, address, and email address. We can Instant Screen only certain lead providers you want or all of them. You choose.

Q- Are there any compliance regulations or benefits by using Instant Screen?
A- The only compliance regulation is to inform the customer they have been pre-approved as described above. There is no requirement to give the customer a Risk Based Pricing Exception Notice or an Adverse Action Notice based on pulling an Instant Screen like there is when pulling a Credit Bureau.

Q- How are the most successful dealers using Instant Screen?
A- By far the most successful dealers are using Instant Screen on every Prospect, Showroom Traffic and Internet Lead. All lenders now have multiple tiers and they are typically based on the CB score. Knowing whether a customer is sub-prime right away and directing him to the right car from the very beginning will mean the difference between him buying a car at your dealership or at your competition. Knowing whether a customer has the score to qualify for the special lease payment offered by the factory will again save hours of time for both the salesperson and the customer. Instant Screen will help your managers work smarter on EVERY customer and in the end EVERYBODY benefits!

Wouldn't you like to know this Before you start the deal?Credit Bureau score