New Request Contract and Funding Document Improvements

Current funding processes for approved applications take an average of four days—significantly slower than your dealership would probably like. This delay is largely due to two key issues: dealers often lack clarity on their payment amount and how it’s calculated, and they are also unable to upload necessary funding documents themselves once funding has been requested, even if a document is rejected. These challenges lead to necessary rework and coordination, directly contributing to the extended funding timeline.

Lendbuzz is introducing two key improvements to simplify and enhance the loan approval and funding experience for dealers.

First, the Contract Request flow is being updated to give you the ability to verify deal structure and loan details, while also providing transparency into how your net check is calculated. This will ensure contract accuracy by verifying deal structure, net check and loan details as you request the contract.

Second, the Funding Document Upload process is changing: dealers will be able to upload, view, and remove funding documents right up to the point where each required document has been verified. This means you can continue to upload funding documents after you have requested funding—an action that was not previously available.

Together, these improvements will reduce your time-to-funding while refining the overall loan process. Look for more loan process funding improvements in the future!

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