Now car buyers can see if they pre-qualify for credit online, directly from a dealership, manufacturer or marketplace website
FOR IMMEDIATE RELEASE
London, Ontario, July 6, 2023 - The teams at AutoVerify, Equifax Canada and TD Auto Finance are excited to announce the release of AV Pre-qualify, a ground-breaking product that addresses a critical pain point expressed by consumers: uncertainty about what they can afford to spend on a vehicle.
AV Pre-qualify is an enhancement for the entire Canadian automotive industry. It allows users to determine the amount they can borrow and also see if they qualify for an auto loan from TD Auto Finance, right from an online listing on an OEM website, dealership website, or marketplace.
AV Pre-qualify empowers dealers, manufacturers, lenders and marketplaces to create an enhanced customer experience by providing consumers with the information they need to feel confident and empowered in the car buying process.
At the same time, vehicle sellers receive valuable consumer-led leads, which are powered by data from industry-expert Equifax, and showcase the most comprehensive credit information available in the Canadian market.
"We are thrilled to introduce AV Pre-qualify and are looking forward to offering this game-changing product to dealers, manufacturers and marketplaces across Canada," says Keith Murray, AutoVerify CEO. "This product addresses the pain points expressed by consumers and leverages the expertise of Equifax to provide the most comprehensive credit information available. AV Pre-qualify signifies our commitment to enhancing the car buying experience by enabling transparency, convenience, and informed decision-making."
The enthusiasm is shared by the Equifax team. "We are excited to contribute to the transformation of the car buying experience through AV Pre-qualify," says Sue Hutchison, President of Equifax Canada. "Using our extensive data to help power consumer auto pre-qualifications, we are providing transparency to car buyers and empowering dealerships, manufacturers, and marketplaces with the most comprehensive credit information available in the Canadian market."
In June 2023, AV Pre-qualify was launched as part of Kijiji Canada's Lead Driver Bundle with pre-qualifications being completed by TD Auto Finance.
TD Auto Finance is pleased to be involved. “AV Pre-qualify is will enhance how the industry engages with consumers and provide financing options, ultimately streamlining the overall vehicle-buying journey,” says Gino Caputo, Senior Vice President and Head of TD Auto Finance.
For more information about AV Pre-qualify and how it can enhance the car buying experience, please visit https://www.autoverify.com/digital-research or reach out to the contacts below.
About AutoVerify:
AutoVerify, powered by Mobials Inc., provides automotive dealers, OEMs, lenders, marketplaces, and suppliers with best-in-class tools that enable an omni-channel sales process in the North American automotive industry. AutoVerify offers a platform of digital solutions that make it easy for industry partners to leverage the power of technology to engage customers, merchandise inventory, and transact with consumers both online and in-store.
About Equifax:
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 14,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca
About TD Bank Group:
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.5 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 16 million active online and mobile customers. TD had $1.9 trillion in assets on April 30, 2023. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
