Q&A: The All-in-One DMS & LMS for BHPH Dealers and Finance Companies
Q: What makes Verifacto different from other DMS or LMS systems?
Verifacto is a unified platform built specifically for Buy Here Pay Here (BHPH) dealerships and auto finance companies. It combines Dealer Management (DMS), Loan Management (LMS), insurance tracking, payment processing, and automated customer communication — all in one cloud-based system.
Q: How does Verifacto help with collections and customer communication?
Verifacto’s AI-powered system automates payment reminders, delinquency follow-ups, and customer support via SMS, email, and WhatsApp. The Loan Virtual Assistant (LVA) helps borrowers manage their accounts directly from their phones.
Q: Does Verifacto handle auto insurance?
No. Verifacto doesn’t sell insurance — it tracks it. The platform automatically detects lapses in customer-provided insurance, sends alerts, and allows lenders to apply CPI (Collateral Protection Insurance) if needed, all while staying compliant with state laws.
Q: How is Verifacto different from competitors like Frazer, DealerSocket, or Deal Pack?
Most platforms only cover basic DMS functionality. Verifacto goes further with a fully integrated LMS, automated insurance tracking, real-time compliance tools, and AI-based communication. It’s built for automation, scalability, and compliance — and there’s no software license fee.
Q: Can I access the system on mobile?
Yes. Verifacto is cloud-based and mobile-friendly. Dealers and collectors can access everything from their phone or tablet — no downloads or installations required.
Q: How long does it take to get started with Verifacto?
It’s fast. Most dealers are up and running in just a few days. Onboarding is simple, and the system is easy to learn.
Q: How does Verifacto help manage cash flow?
The system supports ACH, debit, credit card, cash, and check payments. Real-time posting, automated scheduling, and built-in reporting help improve collections, reduce delinquencies, and keep your business moving.
Bottom Line:
Verifacto is more than just software. It’s a smart business partner that simplifies loan and customer management, reduces risk, automates operations, and helps BHPH dealers and finance companies run a more profitable business.
