Answers to the questions funders and dealers ask most about CheckVentory FunderConnect.
For funders
Questions from funders
Does the funder see where a vehicle is?
No. The funder sees whether each vehicle is on the lot or off it. The dealer’s documented locations, such as compound yards, logistics parks and bodyshops, count as on the lot.
Where does the data come from?
Connected-car data from the vehicle’s own systems. Nothing extra is fitted to the vehicle.
What does FunderConnect actually tell us?
Two things about each vehicle on your floorplan: whether it’s at the dealership or away from it, and whether it’s parked or being driven. Your rules turn that into a decision, using the vehicle type from your floorplan data. A demo out on the road is fine as long as it comes back. A brand-new car being driven that isn’t a demo is flagged as likely sold.
How often is each vehicle checked?
Once a day by default. That keeps the cost down while giving a constant heartbeat on every funded vehicle, and it can be checked more often if you need it.
What share of vehicles report?
With our first customer, more than 94% of funded vehicles report in within any rolling 30-day period. Vehicles that don’t report are read against your Auditor checks, so a car parked in storage isn’t treated like one that’s missing.
What happens if a vehicle stops reporting?
It depends on the vehicle’s status. FunderConnect reads the silence against your Auditor checks. If the vehicle was counted on the lot, it’s most likely parked in storage and isn’t a worry for a while. If it’s silent and wasn’t found on the lot at a check, it can be escalated straight away.
How does FunderConnect tell a demo from a sold car?
It reads every vehicle against your floorplan data, so it knows whether a vehicle is new, used or a demo. Your rules then apply the right logic. A demo off the lot is expected; a brand-new car in active use that isn’t registered as a demo is flagged straight away.
What happens when a vehicle is flagged?
It’s sent to the dealer automatically through CheckVentory, before any physical audit. The dealer checks the vehicle or explains it with evidence in Auditor, and your team closes or escalates it.
Does it replace physical audits?
It cuts the vehicles that need a physical check down to the exceptions the dealer can’t resolve. Your audit programme decides what happens to those.
Which vehicles does it look at?
Only vehicles on your floorplan. The funder is their legal owner until they’re paid off, and none of them belongs to a private individual.
Where is the data held?
In your region. European customers’ data is stored and processed in the EU, North American customers’ data in North America, and South American customers’ data in the relevant country or region.
How is it priced?
On your portfolio. It can be added to your CheckVentory platform licence.
Is it live?
Yes. It has been running live with a major lender for several months, and is being rolled out to further markets.
For dealers
Questions from dealers
Do we need to fit anything to our vehicles?
No. FunderConnect uses the connected-car data the vehicles already produce.
Will we be asked about demo cars?
Not if they’re registered as demos and come back to the lot within the period your funder sets.
What happens if one of our vehicles is flagged?
You get a request in CheckVentory Auditor. Check the vehicle if it’s on site, or give the reason it isn’t with evidence where it’s asked for.