For Immediate Release
Collaborative effort aims to provide automotive lenders with unique insight into competitive pricing programs based on local markets, vehicle type and risk tier
Camarillo, Calif. and New York, N.Y., October 29, 2019 – Market Scan Information Systems, Inc., an industry-leading automotive data and solutions provider, today announced a joint effort with Experian to help automotive lenders gain insight into competitors’ ever-changing rate and programs pricing. Through the collaboration, Experian and Market Scan will offer mGauge, a state-of-the-art analysis tool, to automotive lenders hoping to gain more insight into the interest rates that competitors offer based on geography, vehicle, and credit risk tier.
“We are excited and proud to join with Experian to evolve automotive commerce,” said Market Scan President and Co-Founder, Rusty West. “With Experian’s extensive industry relationships and Market Scan’s unique software, data and calculation technologies, this joint effort builds on the natural synergies between our two companies. Together, we will offer one-of-a-kind solutions that empower automotive lenders and OEMs to create compelling and competitive programs for their clients and specific offers directed at consumers.”
“Together, we will offer one-of-a-kind solutions that empower automotive lenders and OEMs to create compelling and competitive programs for their clients and specific offers directed at consumers.”Rusty West
Market Scan President and Co-Founder,
Powered by Market Scan’s proprietary technology, analytics and data, mGauge, analyzes competitors’ published lease and loan finance programs. This enables lenders to create and offer competitive finance options for in-market car buyers and automotive dealers—ultimately leading to an increased bottom line and improved customer loyalty. For example, a lender could see that a competitor will offer a subprime car shopper a specific rate on a full-sized pickup truck—opening the door to offer a better interest rate or match the loan terms.
“In an overly competitive marketplace, lenders need to find ways to attract and retain car shoppers—comparable loan terms are a keen way to accomplish that goal,”John Gray
Experian’s President of Automotive.
“In an overly competitive marketplace, lenders need to find ways to attract and retain car shoppers—comparable loan terms are a keen way to accomplish that goal,” said John Gray, Experian’s President of Automotive. “Unique insight into how competitors are pricing vehicles can level the playing field across the lender spectrum. More importantly, consumers can access favorable loan terms that can make vehicles more affordable and improve their financial health down the road.”
To learn more about mGauge, visit https://www.marketscan.com/OEM/Products/mGauge. For more information about Experian’s automotive suite of products and services, visit https://www.experian.com/automotive/auto-data.
About Market Scan
Market Scan is a leading provider of technology and analytical solutions for the automotive industry. The company’s proprietary technology and analytics mine value from vast amounts of data to enable efficient, frictionless and scientifically accurate transactions. Market Scan’s solutions facilitate easier, more complete, competitive and accurate results, enabling automotive dealers, lenders and manufacturers to provide better products, experiences, and profitability to serve customers and take share. For more information, call 800-658-7226 or go to www.marketscan.com.