CUNA Mutual Group has introduced new technology that assists credit union members in shopping for and purchasing a vehicle. AskAuto™ is a downloadable smartphone and tablet application that offers credit union members vehicle information and loan application assistance to simplify their vehicle-buying experience by enabling them to apply for a loan anytime, anywhere using their smartphone.
By scanning the vehicle identification number, the member learns basic vehicle information, including average retail cost of the new or used vehicle and EPA mileage estimates. The application saves this information along with the member’s notes and ranking preferences to allow for an easy comparison between vehicles before deciding to purchase. Once a decision is reached, the member can also submit a credit union loan application through AskAuto. In addition, AskAuto uses patent-pending technology to help credit unions reach their members on the car dealer lot by sending messages to them. These messages are customizable and can provide members guidance on the best loan available from their credit union.
The smartphone technology uses CUNA Mutual Group’s LOANLINER.com® product, which is used by more than 500 credit unions nationwide. More than $600 million in loan requests have been submitted via CUNA Mutual Group’s smartphone loan technology since it debuted in June of 2011.