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VLS enjoys a strategic alliance with Credit Link to combine lead generation, loan approval and funding, in an automated process for dealer convenience and maximum profitability. VLS is always on the cutting edge, using the latest technology to combine lead generation, credit reporting, credit analysis, electronic application submission, and funding, all from a centralized service center, accessed on the World Wide Web.

Our technology allows the data to be generated, filtered, and processed to identify qualified customers, pair them with the appropriate vehicle, and obtain instant loan approvals, all through web-based technology. VLS products and services are available to independent and franchised automobile dealers in 42 states.

How does it work?

  • Leads come into the VLS website through Credit Link, or are entered manually for walk-in traffic. Leads appear on the lead screen of the VLS Contact Manager with a credit bureau report which has been read by the VLS decision matrix, and is assigned a status.
  • The VLS status let's you know if you have a Pre-Approval or a Decline, or something in between (Review), and allows you to sort your leads accordingly.
  • Leads can be managed through the VLS website Contact Manager and can be assigned to salespeople, sorted according to age, name, status, or salesperson, and all notes and comments can be recorded and displayed on the website.
  • Run a report from any of the three major credit bureaus right from the VLS website Contact Manager. Run all three, if you wish.
  • VLS website Contact Manager can be accessed by anyone who is authorized by password, from the salesperson to the dealer/principal, and from the office, home, or anywhere!
  • Dealer can choose to send the application to any lender through the VLS website (including Virtual Lending Source) with just a click of the mouse.
  • Approvals from VLS are instant (under 60 seconds) in most cases, and will appear right on the website View Decision Page, complete with terms, rate, amount to finance, and stips.
  • Rehashes can be done electronically which means no hanging on hold forever, waiting to talk to a credit analyst.
  • Everything is electronic until it's time for delivery. No paper files to organize or get lost. You just print out the application and have the customer sign it with the contract. No one lifts a pen until it's time to deliver the vehicle.
  • Funding will take place within 72 business hours after complete loan package is received by VLS.

Dealer Benefits
Enables dealership to identify qualified sub-prime customers within seconds.

  • VLS will save you the time and trouble of pulling credit bureau reports manually
  • Paperless deal management means better organization. No files getting lost or going home with anyone, or falling behind a desk.
  • Anyone authorized can access the deal, which means managers or even dealers can keep track of deals.
  • Web access means that you can access the deal from anywhere, even get a head start from home on Sunday night in your bathrobe and slippers.
  • Technology provides speed and efficiency that saves hours and hours. One person can do the work of two, or get his work done in half the time, which leaves him free for the important stuff.
  • Quick decision power can save deals through a speedy delivery
  • Even saves time when re-hashing
  • Consistent and expedited funding.
  • Technologically distinguishes your dealership from others.
  • Enhances your QCP /CSI
  • Makes the job more fun!

What are the costs?
These include cost of a credit bureau report that is pulled for each lead, whether on your own account or through VLS.

  • The monthly service fee, which is waived if you are funding deals with Virtual Lending Source.

If you use the VLS website and Contact Manager but choose not to fund deals with VLS, then there is a monthly service fee of $200.

How do I become a VLS Dealer?
Call for a VLS Application (800) 400-9192

Fax the completed application and VLS Dealer Agreement along with other documentation requested (such as your dealer license, insurance licenses*) on the application checklist.

You must have high speed internet access (not dial up), to get the full benefit of the VLS website Contact Manager. Your must have an established F&I department complete with contract software, and already be conducting indirect loan business with a subprime finance company.

Visit our Virtual Lending Source


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