What happens after I apply?

Your application... what happens next?

Submitting your application...

Once you have applied for finance with us, you will immediately know what we are doing with your application, whether it’s been turned down, automatically accepted, or in most cases, referred to our underwriters. If your application is referred to an underwriter, this is part of our usual application review process, where a member of our team will look over your application in more detail – this is not any cause for concern. 

It’s useful to know that we don’t just look at your your credit score to make our decisions like main stream lenders, you can find out more about how we look at your credit file, and what you can do to maintain it here . This way instead of looking at the face value of a score, we can see your history of the credit you current have, such as credit cards, catalogue accounts, just to see how you have been paying these over time – don’t worry, we’re used to seeing customers who have fallen back on payments or who have previous bad credit history such as a default, however we’re looking for good intent to try and pay what you can to positively change mistakes you have made in the past.

Initial review...

We’ll always consider the outstanding credit you have with other lenders when generating your affordability from your weekly or monthly income.

This affordability check then helps us to either give you a quote for finance, or if you have applied with us through a dealership with an exact vehicle in mind, we’ll decide whether we can approve you for the amount the dealership wants for that vehicle. Our underwriters will also consider your address history, income and expenditure such as mortgage or rental payments, and your credit file. See the below image for an idea of how we use the information within your credit file to assess your application. We do all of these checks to to calculate affordable repayment options if we were to accept you, which are suitable and unique to every customer. Included in these repayments will be the APR combined with your repayments, you can get a good idea of these rates by using our finance calculator here.

What helps us make our decisions

Customer contact...

At this stage of the process a helpful member of our team will be planning to give you a call - but we don't bite! All you need to do is let us know a time which suits you best, and we'll plan to call you for a casual conversation regarding your application. You can expect a range of questions during this call to talk through your application, and to briefly discuss your credit file to get an understanding of repayments to suit your current outgoings and lifestyle. Again, this process is totally normal as our underwriters speak to thousands of customers each week, we've heard it all! This is your chance to talk to our staff and just be open about your current financial situation – we strive to give the best customer outcomes, and ultimately get you on the road affordably. As every credit file and application is unique to the customer, we may require a range of things from you to support your application.

These can include; 
  • Proof of income - usually by providing 3 months worth of bank statements to show regular income, something particularly useful to support the applications of our self-employed customers 
  • Proof of employment - in a small handful of applications, we may ask for permission to contact your employer anonymously to get confirmation of your employment with the company stated in your application
  • Proof of residency - this helps us to gain confidence that you have legal UK citizenship.
  • DVLA Licence check - we can split a call three ways to allow us to create a quick and simple call with the DVLA. We can then get clear confirmation of your current driving license status and any points/penalties
 

What to expect?

Quote...

Our underwriters are open and honest during your call and aim to let you know If we can offer you finance before ending the phone call, however we may need more proof or any additional information for us to come to a decision. Using your online portal, you can easily upload any proofs we have requested, as well as checking live updates of how we are processing these documents. We will usually contact you via phone to update you as we want the process to be as quick and simple for you as possible. Our underwriters will give you a quote for the amount we are willing to lend to you, this is based on a range of information, including but not limited to income and outgoings.

Submitting your documents...

Once we have quoted you on the finance we would be looking to lend for a vehicle, we will send out documents regarding the legal agreement for you to carefully read, and sign. This will be in the final stages of the process; however, some people receive their documents within a few days of applying – we want to make things quick, easy, and get you on the road!

Getting you on the road

...Now you're on the road!

When we successfully receive all signed documents back, and are satisfied with all checks, we will contact your chosen dealership and get the money paid out directly to them using our FasterPayments. All that’s left to do is collect your vehicle, and pay weekly or monthly installments for your vehicle finance agreement!