The Mid-Flight Loan Approval
What do you do when you need a car quickly, but live 900kms from the nearest capital city?
Well, this customer decided to apply for a loan with Gusto Finance and book a flight.
In fact, the loan was still being assessed while the customer was in the air.
While this may sound crazy at first, the preliminary assessment we conduct prior to submitting a formal loan application gives us reasonable certainty of the outcome in many cases.
Things are less certain when there are skeletons in the credit history closet, or other red flags that our brokers can spot upfront.
In this case, the customer had a credit score just under 800, which is strong, and there were no significant detractors that may turn off a lender.
However, when financing a secured asset the vehicle itself can also throw a spanner into a loan approval.
In this case, our sister dealership, Gusto Auto, was selling the vehicle so we knew first hand that this car would meet all of the lender’s criteria.
And that it was mechanically sound.
This is important when selling any vehicle, but especially when it is driving 900kms to get the buyer back home.
All of this was accomplished in approximately 24 hours from enquiry, to the flight, to starting that drive back to Emerald in Central QLD.
That part would have taken longer than the loan approval!
Another great result from the team at both Gusto Auto, and Gusto Finance!