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Trade-In Appraisal Tool Adds Credit Score Functionality

Digital Power Solution, a technology company that provides website tools for powersports dealerships, updated its trade-in appraisal tool in November to allow dealers to find leads based on customer credit scores, Chief Executive Steve Moore told Powersports Finance.

Called Trade Cycle, the web-based tool provides consumers vehicle valuations based on data from Black Book or NADA Guides. A new feature allows consumers to enter their credit scores when they have their trade-ins valued.

“When [the dealer is] looking at these trade evaluations that come in, [it is] able to see, ‘Wow, this customer’s got a 735 credit score. I really need to get a hold of him because they can buy right now,'” Moore said.

Additionally, customers can submit the name of the finance provider and how much is owed on the unit. Dealers can then use that information to find customers searching for new vehicles, with an understanding from the outset of those customers’ financial backgrounds, Moore said.

Trade Cycle was updated to be faster, cleaner, and with more customizable features for the dealer, such as aesthetic choices and better interaction with the dealer dashboard, he added.

Kennesaw, Ga.-based Digital Power Solutions provides website tools for 300 powersports, RV, and marine dealerships.

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As Associate Editor of Powersports Finance, Matt Wood reports on the latest developments and trends of the powersports finance world, from innovation to new partnerships. He's also a movie/TV show buff and is willing to argue about Lost anytime. Former bylines include Scout Media and CinemaBlend.

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