Loan Origination Software, Credit Applications, EZ Dealer Finance

Most people need a loan to be able to buy a car. It is vital that you make this process as easy as possible as a dealer. A lot of buyers get a consumer loan and check their price range before going to a dealer. But still quite a few people expect the dealer to handle the loan. Dealers may even make some money from selling the loan.

There are two ways you can apply for credit in our DMS: generic credit application form and EZ Dealer Finance. Generic credit app form is one of our standard PDF forms that can be populated when working on a deal or after the vehicle is sold. Most lenders have two stages for giving a loan: under writing and funding. At the under writing phase, they decide whether they will be approving or declining the application. They explain their stipulations (or stips for short) if they approve the app. At the funding phase, they expect a more detailed credit app form and check and verify the documents sent with the app. You can use our generic credit app form at the under writing phase. This form can be printed with the deal info. You can then have the customer sign it and send it to the lenders via fax or email. At the funding phase, you would need to send the stips like copy of pay check or driver license and fill another credit app form from the lender. These lender forms can also be added to our system, usually as NCR forms that work with dot matrix printers.

The second way credit apps can be sent is via EZ Dealer Finance. Our DMS coupled with EZ Dealer Finance makes it very easy for dealers to send credit apps to lenders. It boosts back end profits of dealers with participation (selling loans). A system where users can submit apps to multiple lenders at the same time is called a dealer finance software or loan origination software. Dealers do not need to worry about how to setup agreements for loans. A lot of startup dealers ask: How do I offer financing to my customers? This is how. Please see our credit applications page for more info.

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