Over the weekend at the NADA Convention & Expo, Experian Automotive launched a new program within AutoCheck that sends out alerts to users to notify them of changes in a vehicle’s condition or history “in a timely manner.”
AutoCheck allows OEM certified pre-owned programs and lenders to track 28 different elements, which include things like changes in reported accidents, title brands, failed emissions or auction announcements.
“Automotive professionals rely on our AutoCheck vehicle history reports to evaluate the condition of a vehicle or to determine if it is eligible to become certified pre-owned,” said Scott Waldron, president of Experian Automotive. “The new AutoCheck Triggers program builds on that service to alert users of specific changes to their vehicle inventory, allowing them to make critical decisions in a timely manner.”
Experian Automotive senior product manager Kamal Tahir sat down with Auto Remarketing at NADA to discuss the product in more detail. One of the highlights of AutoCheck Triggers, he said, is that the fact that notifications can be sent to multiple parties.
“One of the real cool things here is that down to a VIN level, I can send multiple emails out. So what that means is that a vehicle could be sitting in Cary, N.C., on a lot there … and if something changes, that information can go to the OEM CPO manager at the headquarters, and at the same time, the same email is going to the dealer whose lot the vehicle is sitting on,” he said.
Automakers can also use the service to check the inventories across their dealer body to see which units would match CPO program requirements.
As for lenders, they would use the product more to assess their portfolio. This can be crucial for lenders, being that if there is an accident or branded title, the value of a particular vehicle in their portfolio could go down.
The company is currently beta-testing the product with dealers, Tahir said. They’re essentially taking the same product and looking at what works for them and what may need to be changed.
Going forward, Tahir said Experian is considering expanding the number of elements in the Triggers.
“We’re going to be looking to enrich that. Which is interesting, because the other part is that we now have access to an exclusive data source that is providing accident information even for states that do not provide accident information,” he said.
“AutoCheck reports are very robust, and we’re investing in it to bring in more information, No. 1, to provide depth of information,” and the company is also looking at the additional needs of its customers to see where else it can help, Tahir added.