Thin and No-file Borrowers: Identifying Your Dealership's Next Big Opportunity

Over 100 million people in the US are under served by traditional credit scoring methods. Many of these people are vehicle shoppers who lack credit history, SSNs, or ITINs—people who you’re probably tired of turning away from your dealership. Lendbuzz’s unique, AI-powered platform is an ideal way to help you provide them with fast financing thanks to our AI-powered lending platform.

Lendbuzz benefits your business by serving a variety of typically underserved borrowers:

• Foreign and Guest Workers
  Many states—especially those with vibrant technology industries—have growing populations of guest, migrant, immigrant, and H1-B Visa-holding workers, and many need cars and trucks to thrive during their time here.
• Foreign Students
  Similar to foreign workers, foreign students here for college and university educations are another robust and rapidly growing group of potential vehicle buyers.
• FICO is Helpful and Optional
  While Lendbuzz’s platform was designed to work without the presence of a credit score, if a borrower happens to have a FICO, it will be factored into the approval process.

Why Prejudging Credit Hurts your Business

Prejudging the credit of customers (cutting off the sales conversation prematurely because they think that person won’t be able to get a loan) is an established tactic for most dealers. While it once saved time, it now costs potential sales, loyalty, and repeat business, as technologies like Lendbuzz’s Artificial Intelligence Risk Analysis (AIRA) have made it possible to accurately and quickly assess the creditworthiness of these borrowers.

Interested in Learning about how Lendbuzz can Help you Reach Thin and No-File Borrowers?

Read about how Artificial Intelligence Risk Analysis (AIRA) powers Lendbuzz's credit decisioning here.

Request a call from one of our sales representatives here.

Ready to sign up as a Lendbuzz partner? Click here to fill out our short dealer application here.

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