Rainbow Car Loans follow a straight forward basic step-by-step guide in processing your application.
Step 1:
Rainbow receives your application via dealer or internet.
Step 2:
An advisor will give you a call back requesting any further details needed and the documentation required.
Step 3:
Once the documentation is received we will propose your application to the most suitable lender(s) for you as a customer.
Step 4:
We now get an answer as to which companies can or can’t help you. If you’re accepted you will be contacted to inform you of this acceptance. Here car details will be requested if you have found a vehicle.
Step 5:
You will need to find a vehicle from a dealership with a consumer credit licence. Once you have found the vehicle you want to finance you will need to give us a call with all the details of the vehicle and the dealership
Step 6:
Once we have vehicle details we perform a number of checks on the vehicle. These checks include valuation checks, existing finance checks and whether the vehicle has been an insurance write off.
Step 7:
We give you the customer your re-payment quote on the vehicle supplied subject to credit limit and vehicle valuation.
Step 8:
We create the documents based on the agreed quote. These documents are then sent to the dealership either by fax or post depending on the lender being used.
Step 9:
You will need to go to the dealership and sign the financial agreement, supply any further documentation required and return the documents back to us for pre-payout checking and preparation.
Step 10:
The documents are sent to the lenders payout department where all the final checks are made by the lenders. Once these checks have been made the funds are released to the dealership.
