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App launched to encourage treating customer fairly

DSG FS has launched an app allowing dealers to pre-screen customers at the point of sale and helping them comply with the FCA’s treating customers fairly principles.

‘PREview’ sits within DSG FS’s quote comparison software QST and allows dealers to identify the most appropriate lenders based on the customer’s credit profile.

It runs just a soft search leaving no footprint of credit applications visible to other lenders so it protects the customer’s financial profile and helps dealers meet the FCA’s TCF guidelines.

PREview also increases customer satisfaction levels by setting realistic expectations from the outset. 

By performing a soft quotation search based on the customer’s details, dealers are able to match their credit profile to the lenders most likely to accept them and the terms they will potentially qualify for.

Sales director at DSG FS, Mark Gow, said: “PREview is the latest IT system we have created in-house specifically for car dealers. Historically, dealers have always presented their car finance offers to customers based on the customer having an A1 ‘prime’ credit status.

“This assumption however, can lead to customer dissatisfaction if they then receive a phone call from the dealer advising the finance terms have now changed and the monthly payment is much higher than originally stated.

“So by using PREview, not only are dealers following FCA recommendations by ensuring they present the customer with terms that are most suited to their financial profile, they are also protecting the customer’s credit rating at the same time.

“It allows dealers to provide a more accurate point of sale quoting process that is quicker, more efficient and ultimately leads to better finance penetration and customer satisfaction.

The free technology is already being used by a range of dealers across the UK.

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