Staffordshire-based car supermarket The Motorhouse has reported a "noticeable" rise in PCP in its first month using credit pre-qualifying system Car Finance Checker from iVendi.
Chris Elcock, finance manager at The Motorhouse, said integrating both the pre-qualifying tool and iVendi’s Quotevine online finance quote generator on the company’s website had increased applications for, and penetration of, car finance.
"In the last month, we have sold a wider spread of finance products and more of them, with a growth in PCPs being the most noticeable development," said Elcock.
Launched in December, Car Finance Checker calculates the probability of a customer being accepted for finance against a list of suitable providers.
Integrated credit checking tools and software for dealers have gained traction in the market in the past 12 months with fellow provider CanCan Car Finance intending to have 100 dealers on its books by the end of 2013, having celebrated its first year of business at the end of 2012.