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You can Request credit approval at any time during your Proposal creation process. It's recommended to request for credit approval once you have the funding amount required.
To ensure accuracy, it is recommended to obtain buyout quotes first before requesting credit approval. This helps align the credit approval amount with the total required funding.
Click on Requests
Create a New Request and Select Request Credit Approval
Set the Requested Funding Amount and Submit Request
This will be set automatically based on the current Proposal financials. You can override this to any value
Align the requested amount with the full required funding, such as the MSRP or total exposure, to avoid needing to request a higher amount later.
Optional: Request a Custom Lease Rate
You can request special lease terms at the same time when applicable. Avoid combining buyout quotes and credit approvals into a single request, as this is not supported by the system.
Best Practices for Avoiding Credit Approval Issues
Obtain Buyout Quotes First: Always request buyout quotes before initiating credit approval to ensure the credit amount reflects the total required.
Set Accurate Credit Approval Amounts: Align the credit approval amount with the full required amount, such as the MSRP or total exposure, to prevent delays.
Common Pitfalls and How to Avoid Them
Submitting Combined Requests: Avoid attempting to combine buyout quotes and credit approvals into a single request, as the system does not support this.
Underestimating Credit Approval Amounts: Ensure the credit approval amount covers the total exposure to prevent delays in processing.
