Experian partners with Auto Trader to drive change in digital car-buying journey

Car dealerships and brokers will get the broadest and most insightful view of a potential customers’ affordability, thanks to a new partnership between Experian and the UK and Ireland’s largest digital automotive marketplace, Auto Trader.

Sellers using Auto Trader’s AutoConvert platform will for the first-time benefit from Experian bureau data, enhancing credit-risk decisioning processes and offering unique and more accurate insights into a customer’s suitability for lending.

By incorporating Experian data into its panel, AutoConvert users can better determine the suitability of potential customers 24 hours a day and, as a result, only submit applications which pass borrowing criteria, boosting efficiency for lenders and dealers alike. Finance applications made via autotrader.co.uk will also benefit from the new partnership.

Gerardo Montoya, Managing Director Experian Automotive UK&I, said: “Experian data insights are renowned for helping businesses from across sectors make faster, more accurate, and better decisions, bringing enormous benefits to both them and their customers.

“We’re delighted to be partnering with Auto Trader, a name synonymous with the car industry for more than 40 years and who are at the forefront of improving the digital car buying journey for buyers and sellers.”

Fiona Mackay, Head of Automotive Finance and Leasing, Auto Trader, said: “Utilising Experian’s world class bureau data will play a key role in our commitment to making the car buying and selling experience as efficient and convenient as possible.

“As well as driving more efficiencies through the AutoConvert platform, it will be an important component to our future finance proposition on Auto Trader. This will benefit both consumers and our more than 13,000 retailer partners as we look to enable them to offer the hybrid retail experience today’s car buyers are looking for.”

As part of the agreement, Auto Trader will also be working with Experian to deploy an enhanced car finance eligibility service.

Eligibility gives dealers and lenders the ability to identify potential customers that are likely to be accepted much earlier in the journey, removing applications that would later be declined, improving conversion and acceptance rates.

For consumers, it will mean they have a clearer picture of the financing options available to them – without it affecting their credit score – giving them the confidence to go ahead with their purchase.