Market Scan Unveils New Retail Finance System
24 January 2000
Market Scan, the Creator of Lease Prophet, Unveils New Retail Finance System
ORLANDO, Fla.--Jan. 24, 2000--Scientifically Perfect Answers to Every
Retail Finance or Lease Scenario
Market Scan Inc. (www.marketscan.com), creator of the legendary Lease Prophet II (the automotive industry's most comprehensive powerful leasing technology), introduced its Market Scan Retail Finance System(R) at the NADA (National Automobile Dealers Association) Convention and Exposition 2000 in Orlando.
The Retail Finance System is based on the Lease Prophet II platform that connects dealers to the massive Market Scan lender database and offers a complete retail finance solution for every car and truck they have in inventory.
"Market Scan Retail Finance System's technology and unprecedented features will allow scientifically perfect solutions for retail financing...just like we have done for years in retail leasing," said Mike Mullen, vice president and chief operating officer. "The system is a complete solution for every deal that is financed at the dealership...new or used cars or trucks...prime, non-prime, or sub-prime...all terms, all lenders, all interest rates, all advance policies. I could go on forever. This one-of-a-kind system was designed for dealers who want to save money, improve unit sales, and increase gross profit."
According to Mullen, "In almost every instance, a customer walks out of a dealership because his or her financial terms or conditions are not met. In a majority of those instances, a deal can be put together, but because the combinations and options are so vast, it's often impossible to do it in a matter of seconds...which is the time span when many deals are made or lost. Now dealers can structure that seemingly impossible deal within seconds and have the best of both worlds...the lowest payment possible with the greatest gross allowable."
Market Scan, the creator of Lease Prophet, is demonstrating the Retail Finance System, along with its Lease System for New Cars and Lease System for Used Cars (formerly called Lease Prophet II) at the NADA Convention and Exposition 2000.
Market Scan's proprietary software and state-of-the-art hardware connects dealers, over the Internet, to the massive Market Scan database. "Updated every business night with the largest database in the world for new and used car leases, and now for prime, non-prime, and sub-prime financing, automobile dealers across the country will never walk a customer because they didn't have a solution to structure the best deal," stated Mullen.
"Magic on the showroom floor" is how Mullen describes the new system. "In my nearly 20 years of automobile retailing, I've never seen anything more exciting. Imagine the dealer and customer, working in unison, to determine which car in the inventory matches all of the customer's financing objectives...within seconds. Our market research indicates that when a finance deal is not put together, it's for one of two very basic reasons: the customer is too `upside down' (negative equity), or the customer's impaired credit doesn't allow conventional financing to work. With Market Scan, scientifically perfect solutions for all retail automobile transactions are now just seconds away. It's almost like having Superman running your front end. With an interface to most major D.M.S. providers, the possibilities are endless."
Several dealers who already have Lease Prophet II (now called Market Scan Lease System for New Cars and Market Scan Lease System for Used Cars) were recently introduced to the Market Scan Retail Finance System and signed agreements without hesitation.
For the past three years, Market Scan has been named in Inc. magazine as one of America's 500 fastest-growing privately held companies. Market Scan has headquarters at 31416 Agoura Road, Suite 205, Westlake, Calif. 91361. The phone number is 818/707-8338. Fax is 818/707-8339. The Web address is www.marketscan.com.
The company maintains satellite offices in Arizona, California (northern and southern), Colorado, Florida, Massachusetts, Missouri, New Jersey, Ohio and Texas. Training centers are located in Southern California, New Jersey, Florida and Ohio.