Lenders and servicers should anticipate an influx of questions and possiby borrower deliquencies as student loan forbearance comes to an end. Read more.

At Experian, we like to share success stories with automotive professionals—especially when it relates to one of our solutions—AutoCheck! Below is a case study involving our client, LexisNexis. We discuss how they were able to help their customer, a large national insurance company utilize AutoCheck vehicle history data to help manage risk and ensure more accurate underwriting. The challenge: LexisNexis Risk Solutions is a leader in providing essential information to help customers assess, predict, and manage risk. So, when a national insurance client asked them to evaluate the automotive mileage data model they were currently using for their underwriting, LexisNexis was happy to help. The client wanted to make sure they were analyzing the most accurate, up-to-date mileage data available. They wanted to make sure they were best managing risk, while continuing to offer competitive rates and a high level of customer service to their prospects and client base. The approach: First, the LexisNexis team set out to validate the frequency of recent VIN-level mileage data being populated into the current mileage model. They prepared a data analysis for their client, comparing length of ownership to the age of the oldest reported odometer reading based on AutoCheck vehicle history data. Second, they reviewed the frequency of current AutoCheck mileage data records and compared that data to AutoCheck vehicle history records. They wanted to determine if there were more mileage records being reported currently versus in the past. The LexisNexis team analyzed a large sample of VIN records with impressive results. The solution and outcome: When the team compared data from mid-2020 to that from late 2021, the analysis confirmed there were more VINs populated with mileage records with the data pulled from late 2021. Specifically, 45% of VINs had mileage records from within the last three years that did not previously have a mileage record within that time frame. The national insurance company was thrilled with the lift in mileage data year over year! In summary, because AutoCheck vehicle history data is constantly enhanced and expanded, we can provide reliable, accurate data to industry leaders like LexisNexis so they can offer the best insights to their client relationships. Recent mileage data is a critical component to use when evaluating a vehicle’s history. Experian Automotive is committed to continuously expanding our AutoCheck vehicle history data overall, including the frequency and recency of reported mileage information. AutoCheck is the industrial-strength vehicle history report that automotive professionals trust to help manage risk and confidently underwrite more of the right vehicles. To learn more about the many benefits of becoming an AutoCheck subscriber contact us today.

It’s that time of year. All my tax documents are rolling in and I know I need to start working on my taxes. Like most Americans, I’m hoping to end up with a refund! In 2020, 170M people filed tax returns and according to the IRS, they issued almost $126M in refunds.¹ Additionally, 2020 surveys revealed that as much as 9 percent of over 100 million taxpayers spent their refunds on major purchases, including new or used cars!2 As a dealer, it’s not uncommon to see an influx of consumers looking to purchase a vehicle around tax refund time. This year, with the continued shortage of new inventory, dealers can look for consumer interest to remain focused on pre-owned vehicles. Take advantage of shoppers by optimizing your online presence Dealers can help buyers by making it easy for them to quickly find vehicle history information on all your online inventory. One of the best ways to do this is by providing an AutoCheck® Vehicle History Report on your Vehicle Detail Pages (VDPs). Be sure to provide this information on all consumer shopping portal sites where you list your inventory. Why is this important? Because seventy-eight percent of consumers visit two or more sites during their shopping journey.3 You need to do everything you can to quickly capture their attention, increase lead conversion and close rates for your inventory. So, why AutoCheck VHRs? Because AutoCheck is the only vehicle history report listed on all the top consumer vehicle shopping portals. Your VHRs are on display where consumers are shopping online. We work with all the top online automotive shopping sites to help dealers like you optimize your online presence. Consumers use VHR information to make purchase decisions Our research shows that consumers increasingly use vehicle history information to narrow their consideration pool and filter search result pages to help make purchasing decisions. This transparency about a vehicle’s history (that could include damage and accident information) is what consumers are seeking. It’s never been easier for dealers to share key vehicle history data to help consumers make an informed decision so they can turn to your dealership to purchase. For dealers that are not yet subscribers, here are a few other things you may not know about AutoCheck vehicle history reports. We do not re-market to shoppers or display competitive units as alternatives on your AutoCheck.com VDP listings. Our goal is to help your dealership sell your inventory. For dealers with an AutoCheck subscription, you can activate your vehicle listings for free on AutoCheck.com by calling client services at 1 888 409 2204. For dealers who are interested in learning more about the benefits of becoming an AutoCheck subscriber contact us today. Happy tax season! 1. https://www.cnbc.com/2021/03/31/will-you-get-a-tax-refund-or-owe-the-irs-32-percent-of-americans-dont-know.html 2. https://santanderconsumerusa.com/blog/do-people-really-buy-new-cars-with-their-tax-refunds 3. Car Buyer whitepaper. https://www.coxautoinc.com/wp-content/uploads/2021/02/Cox-Automotive-Car-Buyer-Journey-Study-Pandemic-Edition-Summary.pdf