SAN FRANCISCO -

Emphasizing three main capabilities, vAuto introduced what it dubbed a Subprime Booking module as part of its Provision system to help dealers address the challenges of properly acquiring subprime inventory and matching credit-challenged customers to those vehicles.

As the latest innovative module in vAuto’s Provision used-vehicle inventory management system, the Subprime Booking tool is geared to assist dealers:

• Easily determine the subprime potential of every auction or trade-in appraisal

• Verify multiple lenders’ criteria against any appraisal at once

• Arm sales teams with available subprime inventory to efficiently match customers to the right models early in the sales process

Officials from vAuto unveiled their new Subprime Booking module at the National Automobile Dealers Association Convention, which opened on Friday in San Francisco.

“With some analysts predicting double-digit increases in the number of subprime used vehicle financing deals in 2015, it’s ever-more important that dealers proactively take advantage of increased retail opportunities in this market segment,” said Dale Pollak, vAuto founder and executive vice president at Cox Automotive.

“vAuto’s new Subprime Booking tool helps dealers address two of the persistent challenges they face with credit-challenged customers — stocking cars that will meet lender criteria and matching these cars to subprime customers right away in their sales processes,” Pollak continued.

With a proper vehicle as part of the deal, vAuto vice president and general manager Randy Kobat believes the company’s latest solution will help stores push out contracts that have a better chance of the loan being purchased by multiple finance companies

”Dealers often feel frustrated that they’re missing subprime deals because they can’t get customers ‘bought’ in the F&I office,” Kobat said.

“The Subprime Booking module eliminates this frustration by giving dealers the opportunity to instantly recognize a vehicle’s fit as a subprime unit and helping their sales teams connect credit-challenged customers with the right cars before they get to the F&I office,” he went on to say.