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Grow Loans While Helping Members Buy Smart With the AskAuto App™

Thursday, August 29, 2013   (0 Comments)
Posted by: Leah Redding
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AskAuto App logoIn today’s wireless world, there’s an app available for just about anything you might want to do with your mobile device. But, until now, there hasn’t been an unbiased car shopping app for credit union members.

The AskAuto™ app is a powerful tool designed to make shopping for a car and applying for a loan easier for tech-savvy and younger members in their peak borrowing years.  

After piloting the new research and lending application with eight credit unions, the app is now available to all credit unions using CUNA Mutual Group’s loanliner.com® and Smartphone Loan technology.

How Does It Work?
With the AskAuto app, members can scan vehicle identification numbers, or VINs, to get basic information, including average retail cost of the new or used vehicle and EPA mileage estimates. Plus they can make notes on the vehicles they like. The AskAuto app saves this information for comparison later.

Meanwhile, your credit union can send messages about loan options and dealer relationships that might interest the app user--while they’re on the dealer’s lot!

Once a decision is reached, the member can apply for a loan using their smartphone and the AskAuto app, which interfaces with CUNA Mutual Group’s SmartPhone Loan and loanliner.com technology. By scanning their driver’s license*, the AskAuto app prefills the loan application, saving keying time and ensuring accuracy of the data. Scanned vehicle information will prefill into the loan application, too.

VIDEO: Features of the AskAuto app in action 

Smartphones Are the New Shopping Tool

Consumers are using their smartphones during the car buying process at an ever-increasing rate, jumping from 17% in 2010 to 31% in 2012.1

In a 2012 JD Power & Associates Automotive Mobile Site Study, more than half of the car shoppers surveyed said they would access their mobile device to aid in car shopping while physically at the dealership.

The AskAuto app is one more way CUNA Mutual Group is innovating, providing new lending tools to support credit unions’ changing needs in our marketplace.

Start attracting new, younger members with the AskAuto app, SmartPhone Loans and loanliner.com technology today. Contact your CUNA Mutual Group Sales Executive or call CUNA Mutual Group at (800) 356-2644 to learn more.

* Driver’s license scan not available in all states.
1 Source: 2012 JD Power & Associates Automotive Mobile Site Study

CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates.

LL-0713-5289 © CUNA Mutual Group, 2013. All rights reserved.