Automotive Finance Application Processing Checklist
Streamline your auto loan approvals! This Automotive Finance Application Processing Checklist ensures consistent, compliant handling of every finance request, minimizing errors and maximizing efficiency for your dealership. Boost customer satisfaction and protect your business with this essential checklist.
This Template was installed 5 times.
Application Intake & Verification
Initial steps for receiving and validating customer finance applications.
Application Date
Customer Referral Source (if applicable)
Application Method
Application ID (if assigned)
Down Payment Amount (if applicable)
Date of Birth Verification
Proof of Identity (e.g., Driver's License)
Credit Bureau & Information Retrieval
Gathering credit reports and other necessary financial data.
Credit Bureau Used
Consumer Report Order Number
Date Credit Report Ordered
Notes on Credit Report Review (e.g., discrepancies)
Copy of Credit Report (Secure Upload)
Credit Score Range
Income & Asset Validation
Confirming applicant’s stated income and assets.
Gross Monthly Income (Before Taxes)
Employment Verification Documentation (Pay Stubs, Letter from Employer)
Other Monthly Income (Specify Source)
Description of Other Income Sources
Bank Statements (Last 2 Months)
Value of Liquid Assets (Savings, Checking)
Documentation Supporting Asset Values (Account Statements)
Debt-to-Income Ratio Calculation
Calculating and assessing the applicant's DTI.
Gross Monthly Income
Monthly Loan Payment (Principal & Interest)
Monthly Housing Payment (Rent or Mortgage)
Monthly Credit Card Payments
Other Monthly Debt Payments (Specify in Long Text)
Description of Other Debt Payments (if applicable)
Total Monthly Debt Payments
Debt-to-Income Ratio (%)
Loan Term & Interest Rate Selection
Determining appropriate loan terms and interest rates.
Requested Loan Term (Months)
Selected Loan Term Tier
Preliminary Interest Rate (%)
Credit Tier Adjustment
Calculated Interest Rate (%)
Interest Rate Justification/Notes
Credit Approval & Underwriting
Final credit decision and underwriting assessment.
Credit Score
Loan Amount
Down Payment Amount
Risk Tier Assignment
Underwriter Notes
Approval Date
Underwriter Signature
Contract Preparation & Review
Creating and reviewing the finance contract documents.
Contract Terms and Conditions Review
Loan Amount
Interest Rate
Contract Start Date
Contract End Date
Contract Type
Finance Manager Signature
Disclosure & Customer Signatures
Ensuring customer understanding and obtaining necessary signatures.
Truth-in-Lending Disclosure Explanation
Finance Charge Disclosure Explanation
APR Disclosure Explanation
Customer Acknowledgement of Loan Terms
Customer Signature
Date of Signature
Funding & Contract Submission
Securing loan funding and submitting contract to lienholder.
Loan Amount
Funding Date
Funding Time
Funding Source
Funding Confirmation Document
Notes on Funding Process
Contract Submission Method
Contract Submission Date
Post-Funding Compliance & Audit
Ensuring ongoing compliance and preparing for potential audits.
Funding Date Confirmation
Loan Amount Verified
Compliance Training Completion Status
Audit Trail Documentation
Next Compliance Review Date
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