From the dealer’s first click to final settlement, every step runs against the funder’s rules and every step is logged.
Clean requests clear on their own. Only requests that need judgement reach a person, and nothing goes on funding without passing the funder’s rules.
The six steps
- The dealer submits a vehicle. They enter a registration or VIN. PreCheck looks up the vehicle, decodes the VIN and checks for outstanding finance. The dealer adds mileage, purchase price, selling price and the amount they want to borrow.
- PreCheck applies the funder’s rules. Age, value, mileage, loan-to-value, asset type and condition are tested at organisation, product, dealer and asset level. The dealer sees their available credit and the advance on offer before they submit.
- Documents are read and matched. The dealer uploads the documents the funder requires for that vehicle and source. AI reads each one, pulls out the VIN, registration, make and price, and matches them to the request. Each field gets a confidence score, so the reviewer can see at a glance what needs a second look. A document type PreCheck hasn’t seen before is tagged once by hand, then recognised from then on.
- The request lands in one of three lanes. Auto-approve if every rule and document passes. Review if a credit decision is needed. Escalate if risk or compliance needs to see it.
- Approved assets go on funding in the funder’s system. PreCheck creates the asset in the funder’s wholesale finance platform and keeps the credit line in sync.
- The dealer settles when the vehicle sells. Settlement is recorded and passed to the back-end system, in real time or in batches depending on the funder’s setup, and the asset is closed. The full history stays on file.
Rules: how the four levels work
A funder might cap funding at €100,000 per vehicle across the organisation, €70,000 on a used-car product, €50,000 for a particular dealer and €20,000 for a particular make. A request has to pass all four. The tightest limit always applies, so the funder sets policy once and PreCheck applies it every time.
Documents that get smarter with use
When a dealer uploads a new type of document, such as a regional logbook or a specific auction house’s invoice, it’s tagged once. The funder can then approve it as a template for all its dealers. Every funder ends up with a document library built from its own network.