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Instant Payoff Info?

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Eric88

Eric88

Full Sticker + Prep
Jan 27, 2019
24
12
First Name
Erik
#1
I posted in the cool tech channel about an instant payoff... it got me thinking a bit more about something that I think could be useful, and I kinda want to build, but I don't want to build it if everyone thinks it's a terrible idea.

The idea:
Instant payoff quote: text a VIN to a phone number, and you get a text back in as little as a few seconds with:
  • Payoff amount
  • Per diem
  • Good thru date
  • optionally, decoded VIN to confirm we found the right vehicle
This seems really fast. It would save people from having to call lienholders and go through frustrating IVR prompts, or having to wait for a customer to log into their account and do it. Equally, I could build support to take a lienholder name and account # if the VIN lookup fails. I could also probably pull lease information, so you'd get an accurate lease payoff quote as well. All this data would come from the lender.

Another idea is to build an integration to DealerTrack or CDK/Rey&Rey so you can check the payoff again if the deal extends beyond the good-until or you wanna confirm.

Would any of you guys buy something like this for operations?

Product Ideas.
 

✨ AI Highlights

  • Eric88 proposes building an automated SMS service that provides instant payoff quotes by texting a VIN, returning payoff amount, per diem, and expiration date within seconds—eliminating the need for customers or dealers to call lienholders or navigate IVR systems.
  • The concept would also support fallback options like manual lienholder lookup and potentially lease information retrieval.
  • The post seeks community feedback on whether this tool would be genuinely useful before development begins.

Eric88 proposes building an automated SMS service that provides instant payoff quotes by texting a VIN, returning payoff amount, per diem, and expiration date within seconds—eliminating the need for customers or dealers to call lienholders or navigate IVR systems. The concept would also support fallback options like manual lienholder lookup and potentially lease information retrieval. The post seeks community feedback on whether this tool would be genuinely useful before development begins.

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