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Pre-screen and pre-qualification products may both be "soft-pull" credit solutions (e.g have no impact on the consumers FICO score or require a SSN), but they are very different in how they work and the impact they have on your dealership processes. Do you know the difference?
Pre-screens and pre-qualifications are both intended to accelerate engagement and conversion but irresponsible or misinformed opinions have created a lot confusion in the marketplace regarding the differences. They are not the same. It is important to understand the distinctions.
Before making the right decision for your dealership, here are (3) questions to ask any vendor offering pre-qualification or pre-screen products: