Finance Pre-qualification 

Frequently Asked Questions

Date: 11/10/2019

• How can I tell apart regular leads from Finance pre-qualification leads?
  • Each finance lead will have a financing pre-qualification icon  on the Opportunities grid and inside the opportunity. 
• Where do I see the details of the Finance Pre-qualification leads?
  • Finance leads will come in just like your other leads, but with a new flag for Pre-qualification Pass/Fail, which you will find by clicking inside the opportunity. Once you open the opportunity, there will be a hyperlink for Pre-qualification: Pass/Fail, and if you click on it, you will see further details about what passed or what failed. 
• How do I find how many Finance pre-qualification leads I have?
  • On the Opportunities grid, there is a new filter in a form of the icon  that is next to the other iconographic filters for Notes, Text, Emails, Calls, Appointments.  If you click on that icon, it will filter out just the customers who have completed the finance pre-qualification flow. 
• Where does the pass/fail criteria for income, years on the job, and FICO score come from?
  • The pass/fail thresholds are set in the Partner record by you, the dealer. The Rollick Concierge team can help you adjust the defaults.
• Why am I not seeing the customer’s FICO score?
  • Our implementation with TransUnion does not require your dealership to have a direct integration or any contractual license with TransUnion. It is all handled by Rollick. Due to legal regulations, this implementation prevents us from showing the actual consumer’s score. However, the minimum score of what qualifies as a PASS is based off of the dealer preferences. 
• Will I be getting Finance Pre-qualification leads from GoRollick.com and my own Website? 
  • Yes, finance leads can come from both places. 
• How will I know when someone has completed Finance Pre-qualification? 
  • A new email notification will go out instantly when a shopper completes Finance pre-qualification steps.   The subject line and the email body will contain the words “Finance pre-qualification” to quickly spot and contrast regular leads from Finance leads.  
• What are the Years On The Job pass/fail ranges?
  • Self-employed, Under 6 months, 6 to 12 months, 1 to 2 years, 2 to 3 years, Over 3 years.  You set the minimum years for Pass based on your Finance & Insurance office guidance. 
• What are the FICO score pass/fail ranges?
  • Scores range from 350 to 850 on the FICO 8 scale.  The scores come via a soft pull from TransUnion based on the shopper’s reported legal name and address.  If the pass criteria in the Partner record is set to 500, for example, then any score of 500 and above will be a pass and any score below 500 will be a fail. 
• What are the income criteria pass/fail ranges?
  • Shoppers self-report their income ranging from $0 to $9,999,999/year.   Then, based on dealer settings and vehicle price, the minimum income can either pass or fail. As an example, dealer can set a minimum income of $15,000 for vehicles between $1,000 and $5,000, and an income of $60,000 for vehicles between $50,000 and $100,000.
• I see “Incomplete” on some Finance pre-qualification leads. What does that mean? 
  • A Pass/Fail status of “Incomplete” may appear next to FICO score. This means that TransUnion could not identify the shopper in any of their credit history records. This could be because the shopper has recently moved to a new address, or the shopper provided inaccurate or false address/name combination. 
• Why don’t I see any Finance pre-qualification leads; I thought I was all set up?
  • Most shoppers should see the Get Pre-qualified button. However, since the finance pre-qualification questions appear at the end of the lead flow, some shoppers will not want to answer additional questions after providing their lead information; others may not be comfortable with giving their home address; and still others may drop off half way through the flow if we cannot find their TransUnion profile and need to verify them with SSN and DOB.   However, it is possible that your setups are incomplete – please have your Rollick Concierge team confirm if you’re not seeing any Finance leads but feel that you should be. 
• Does the shopper ever see a Fail message?
  • No, the shopper never sees any language that indicates they have failed pre-qualification for financing. Rather, we always show “More information is required” messaging and let the dealer speak to the customer and consider if there are any other options. Oftentimes, with a higher down payment, a co-signer, or sub-prime lending, financing can still be obtained. Your F&I Manager should help find the correct financing for each shopper. 
• Does Rollick send anything to the shopper if they do not pre-qualify/fail?
  • No, it is the dealer’s responsibility to communicate all finance options to the shopper. 
• What do I need to do if the customer shows as Fail?
  • It is recommended to reach out to all customers – regardless of pass or fail status – and walk them through various financing options as well as provide alternatives should the pre-qualification fail.  Your F&I Manager should help find the correct financing for each shopper.