What to Do After Applying for a Loan


How does Outside Financial decide which lender offers are right for me?

When you provide us a little information about yourself, we compare it to the criteria our lender partners have given us. Our sophisticated decision engine figures out which ones have a high probability of welcoming you as a customer, and we show you up to the three best offers. You pick the one that works best for you. You won’t hear from anyone (other than us) until you’ve chosen to apply with your lender. That way, you don’t have to worry about receiving a ton of phone calls or spam emails from companies you’ve never heard of.

Will I receive multiple loan offers?

We try to provide you with up to three great offers from our lending partners for you to choose from. Sometimes we only return one or two matches, but we'll never show you any that we don't think are a good deal for you.

How is my loan offer calculated?

Our lending partners make their decisions based on many factors, but the three most important ones are:

  1. Collateral: that is, the vehicle you want to buy or securing the loan you want to refinance;

  2. Credit: meaning your credit history; and

  3. Capacity: your ability to pay back the loan, including the income that you can put toward your monthly loan payments, minus any debts you already owe.

Every lender weighs those factors slightly differently, which is why you might receive offers with different terms. We show you the offers that we think are best for you.

Will I be able to change the vehicle I want to buy after I select my chosen lender and apply?

We try to give you as much flexibility as we can. If you change your mind at the dealership, you may be still able to use your pre-approved loan, as long as the car you choose meets the lender’s eligibility requirements. Please keep in mind that lenders make their decisions based on your credit and the type of vehicle you select, so it's possible your loan won't cover every car you fall in love with. The instructions you receive when you're ready to shop will give you more detailed information.

How will you contact me with the response from my lender?

You choose! When you set up your account, you can choose to be contacted by email or text message. Also, you can always check the status of any requests or communications in My Account: My Preferences.

Can I use my loan at any dealership?

At Outside Financial, we value your freedom to choose the dealership and the vehicle that is right for you. Our lender partners are willing to work with most franchised dealerships. Check with your lender for specific eligibility criteria.

Can I use my loan to buy a vehicle from a private party?

Unfortunately, we don't offer loans to buy a vehicle from a private party at this time.

Does my loan offer expire?

Loan offers are usually valid for 30 days. After that, lenders will need to review your credit history again. You can always check the details of your offer on My Dashboard.

Why didn’t I receive any pre-qualified offers?

Sometimes, we work our hardest, but we’re unable to locate a loan for you from our lender partners. We’re always working to expand our lender network. In the meantime, please use our Learn page as a resource to help you find a great loan elsewhere.

Why was I denied by the lender I chose?

There are times when our lending partners are unable or unwilling to extend a loan based on their internal loan rules. If you received multiple pre-qualified offers, you can choose to apply with one of the other lenders. You can also use our Learn content to help you find a great loan elsewhere.

Can I apply again if I was denied?

We encourage you to apply again after you've taken steps to improve your chances of approval, such as paying off old debts or partnering with a co-borrower.

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