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What are Preferred Lender Results?

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IN THIS VIDEO:

  • What are Preferred Lenders?: 0:05
  • Deal entry screen: 0:15
  • Preferred Lender Results window and options: 0:20
  • Explaining result statuses (Aligned vs Not Aligned): 0:30

 


Preferred Lender Results Overview

Preferred lenders are lenders that have partnered closely with DealerCenter to provide dealers with exclusive access to a wider range of financing solutions across the credit spectrum.

Once you send an application off to your lenders by selecting ‘Go to Deal’ you’ll see a popup window called Preferred Lender Results – or once you close out of the Preferred Lender Results window these same results are accessible from the ‘Lender Offers’ tab.

Lender_results_popup_.png

 

Based on your deal each lender here will provide an instant result. Typical results are:

  • ALIGNED: This means that while the deal is not yet approved, it has a good chance of approval because it aligns within the lender’s rate sheet and falls within its programs structures. It’s important to note these Aligned deals will require the additional step of submitting it off the lender. You can do this next by selecting the ‘submit to lender’ button, which you’ll see on the Lender Offers tab.
  • NOT ALIGNED: This means the deal doesn’t within the lender’s rate sheet, however, you can still submit deals with the status of not aligned – and in all cases – regardless of the deal status you’ll have the option to further adjust deal numbers like down payment and term before proceeding to the next step of submitting it to lender.