Vehicle loans (Auto & Specialty Vehicle Loans)

Help borrowers get pre-approved for an auto or specialty vehicle loan faster. Blend supports applications for both new and used vehicles and refinancing existing loans. With Blend, you can invite borrowers to apply for an auto, boat, RV, or powersport vehicle loan with a fast and intuitive digital experience

Create an auto loan

1. Click New Loan from the pipeline screen. 

2. Select Full Application or Quick Intake Form from the drop-down menu.

3. Fill in the following fields: 

a. Loan Type (auto loan or specialty vehicle loan)

b. Auto Loan Product Type (purchase, standard refinance, cash-out refinance or lease buyout)

 Note: This is for auto loans only

c. Primary borrower's first and last name

d. email address (check box for No email yet if there is no email for the borrower)

4. Click Create. 

 Notes: 

• Check box for No email yet if there is no email for the borrower. 
• Borrower’s name is a minimum required field to start an application.
• If the borrower is refinancing, select whether it is a loan or cash-out refinance. 
  • For either a loan or cash-out refinance, enter the vehicle details, loan details, and the borrower’s current lender.
• The process for a lease buyout is identical for the refinancing workflow.

Auto loans

Specialty vehicle loans

5. Fill in all available information for the borrower. Click Add a co-borrower to add any additional parties to the application, if needed.

6. Select one of the following options:

a. Click Save changes and Invite borrower (this will allow the borrower to review and edit information, add or connect assets etc. before submitting the application). Follow steps 7-10. 

b. Complete full application and click Submit application (lender will enter all of the borrower information and submit application with no borrower involvement).  

Resource:  Add/Delete a Co-borrower

Notes:

• The primary borrower has the authority to add or remove any co-borrowers from the application.
• You can always click Save Changes and finish the application at a later time. 
• You can fill in as much or as little information on the application as desired and send out an invitation to the borrower.

Invite borrower

7. Click Send Application to invite the borrower to review and complete the application.

8. Customize the email if needed.

9. Click Invite borrower.

Notes: 

• Borrower’s name and email address are required fields to send out an invitation.
• You can fill in as much or as little information on the application as desired and send out an invitation to the borrower.
• Auto loan application flow is very similar to Blend mortgage application flow, please refer to Blend Basics series for more detailed information.

Resource: Blend Basics videos

DISCLAIMER: The features on this page may not be applicable to your institution. Please reach out to Blend Support for more information on what features are enabled for your use.