Over the years, Lenders have been forced to turn away business due to a lack of data and time-heavy processes to assess LCVs, Bikes, and prestige vehicles.
Many Car finance providers still use limiting processes and data such as:
- Trawling dealer and other classified sites
- Tedious manual validation protocols
- Time-consuming processes
- Overall operational expense increase
Building insight is key but is difficult with traditional valuation suppliers due to their limited coverage and trade-based nature. Other data sources required for validation purposes are time-consuming to source. The amount of different tools and varying data sets needed to perform any kind of accurate valuation assessment is unreasonable and at times commercially not viable. Whilst this limits business, there is no doubt this all affects the customer's journey and experience.
Understanding which tools can support and streamline processes will help. But finding a singular digital companion that provides everything you need to quickly power lending decisions whilst maintaining the trust of customers is pivotal in any manual underwriting process.
The Cazoo Data Services Companion tool demonstrates a whole-market data view. Providing a vehicle's current sale information as well as other similar vehicle listings that traditionally can take hours to gather and assess. Helping finance-lenders speed up from manual to slick informed decisions. Our Free Ebook explains further how having access to real-time factual data and insights can provide a clear understanding of the market.
Assess risk and have confidence in using Cazoo Data Services's future valuations Companion tool to deliver better outcomes, now and in the future