5 Tips for a Faster Approval
all of us at Priority One are working hard at getting you the fastest
approvals and funding, here are some steps you can take to help.
all options on all units older than one model year. Some lenders are
requiring book outs on all units older than one model year. When faxing
your Purchase Order, send in an option list or ask your Business
Manager for a blank checklist.
in unaltered, original invoices for all new units. Lenders are now looking
for discounts on invoices. If they do not see a discount, they may call
the manufacturer to verify the invoice. Any discrepancies will
delay funding and may jeopardize your relationship with the lender.
multiple ways to contact the customer. Have the customer
include their cell, home, and/or work numbers as well as their email
address on the Purchase Order. This will provide multiple ways to
contact your customers.
your Business Manager of the manufacturer's warranty. This will help ensure the
right Extended Service Contract options are made available to your
customers, leading to a faster close and more profit for your
the customer that lenders may require verification of income. Most lenders are
requiring verification of income regardless of credit scores. For this
reason it will be beneficial to have the customer gather their W-2 and
most recent pay stub in advance.