BOZEMAN, Mont. — Zoot, a provider of advanced instant credit decisioning and loan origination solutions, announced the availability of its automated negotiation system, which is a fully customizable program for lenders that provides dealers with accurate and timely loan information.

Basically, the solution can help both lenders and dealers increase acceptance rates.

Driven by the need to provide dealers with the most extensive range of loan options to offer customers at the point of sale, Zoot said it developed a loan origination system that automatically generates a comprehensive listing of financing offers based on every parameter of the auto loan.

Automatic negotiation allows the dealer to present an offer based on what is most important to the customer, such as interest rates, loan length, trade-in value, payment amount, etc., without having to go back to the lender several times. According to officials, the ability to make immediate offers empowers dealers to avoid walk-away points.

Zoot's solution analyzes consumer credit requests, obtains credit reports from appropriate credit bureaus and provides information necessary to make credit decisions. In 2007, more than 98 percent of Zoot transactions were processed in two seconds or less, the company noted.

"With the decrease in auto sales forecasted for 2008, it is imperative to capture leads by offering the most immediate and timely information before the dealer chooses to seek a different lender," explained Chris Nelson, chief executive officer of Zoot Enterprises.

"Zoot is committed to matching even the most challenging loan requests to cater to each borrower's specific requirements, dramatically accelerating the closing process," he added.

Automating the lending process can enhance the way dealers work with their customers because their lenders can react quickly to changes in the market, executives highlighted.

With this amount of flexibility and control over their environments, lenders' systems likely will never get in the way of doing what works best for dealers and their customers.

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