The prospective dealer must first complete an electronic dealer agreement in the form of a DocuSign envelope. This can be done by directly going online to Dealer Funding’s website or from an envelope that is sent to the dealer’s email from an ISMM. Once the agreement has been completed and electronically signed, it must go through several steps before being decisioned. Along with the agreement, Dealer Funding also requires several stips including the dealer’s license, a voided check (for ACH), driver’s license for each owner, photos of the lot including building and signage, and a copy of the dealer’s floor plan and/or copies of at least 5 titles of units that meet our requirements. If the dealer meets Dealer Funding’s minimum requirements for dealerships, the agreement will be approved. If the dealership doesn’t meet our requirements, the agreement will be declined.
Once the dealer is approved, the ISMM for that market will call the dealer and explain how the dealer can submit applications, find deal documents, and go over general information on how to do business with Dealer Funding.
The dealer can submit credit applications through one of three, online portals- Dealer Track, Route One, or Dealer Center. The application are then reviewed and decisioned by one of Dealer Funding’s “live” buyers. The decision (Call Back) is then sent back through whichever portal the dealer submitted through. If the dealer agrees to the numbers provided, the dealer will contract the customer and send in the required documents as a deal.
The deal is first logged and then verified. The verification department confirms that all information submitted is accurate and reflects the information submitted on the credit application. If all verifies correctly, the deal will be funded and the funds are directly deposited into the Dealer’s account.