Welcome DealerCenter members! As you know, most consumers understand the impact late or missed auto loan payments can have on their credit report. Although paying on time is always important, some borrowers don’t prioritize their car loans as they do other payments.
Many people simply assume that paying their car payment is no big deal, especially since many dealers and car lots don’t report to the four major credit bureaus.
Reporting auto payment information to the credit bureaus is an option…and it’s easier than you think
Like utilities, in-house financing, and other non-bank payments, auto loan payments are often unreported because the process is too time-consuming, expensive, or complicated for smaller organizations.
That’s why a group of credit professionals created Datalinx in 2001. We offer our clients simple, user-friendly technology. Plus, we provide unlimited support to easily and accurately report negative payment records to the credit bureaus. We’re excited to partner with DealerCenter to offer our services to its members.
Credit reporting offers instant benefits for dealers
Sometimes, simply telling your borrowers that you’re using Datalinx’s services will make a difference. If they know you’ll report late payments to the major credit bureaus, this may make your auto payment more of a priority.
You can help your payors understand the damage even one past due payment can make on a credit report. Plus, they may be surprised to learn these items can have a negative effect for up to seven years. The potential impact to their credit score should drive your borrowers to pay you on time.
In addition, your partnership with Datalinx and DealerCenter gives you great benefits, including:
- Fewer collection calls and visits
- More revenue; you won’t have to split your profits with a collections company
- Leverage to get customers who might think about paying late to pay on time instead
- No costly late fee or lien processes, and no more lawsuit filings
- Better financials and more cash flow
Potential benefits for borrowers
Datalinx also offers the option of reporting all loan payments, both positive and negative. With this program, your customers who pay on time will also enjoy:
- Positive credit report notes
- Higher credit scores
- Building a long-term “paid as agreed” payment history
Call Datalinx today
Datalinx’s customized software integrates easily with most existing systems. Plus, our software seamlessly converts your auto payment information to the Metro 2 credit bureau format.
Best of all, our team works closely with you through the setup process. Plus, we’ll be there for you anytime you have a question. Complete the form above or call 425-780-4530 to start reporting your auto loan payments today.