Pre-Approvals, Credit Checks Remain Critical Featured

By Staff Writer June 20, 2018

Pre-approvals and credit checks remain a critical component of the automotive shopping process.

That is among the findings Equifax Inc. unveiled through additional analysis in its ongoing study of consumer credit and shopping trends.

According to its latest findings, prospective purchasers view credit checks and pre-approval processes differently depending on where they are in the buying process.

The findings reveal that 52 percent of prospective purchasers have undergone a credit check, while just 15 percent have the intention of getting pre-approval on their desired vehicle.

Nearly a third said they do not plan to seek pre-approval during the shopping process.

Last modified on Wednesday, 20 June 2018 22:50

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