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Why Has My Application Been Declined?

Understanding lender decisions and what steps you can take if a finance application is declined.

Finding out that a customer's finance application has been declined can be disappointing, especially when you're working hard to close a deal. When an application is declined, it's important to remember that all lending decisions are made directly by the finance lender based on their own unique credit criteria and the information submitted. iVendi is the technology platform that securely transmits your application; we do not make or influence credit decisions.

This guide will help you understand the next steps to take, what to double-check, and how to proceed.

Step 1: Check the application details for errors

The most common cause of an unexpected decline is a simple data entry mistake. Before doing anything else, open the application in the iVendi Platform and verify that all information was entered accurately.

Double-check the following key sections:

  • Customer Details: Are names spelled correctly, and is the date of birth accurate?
  • Address History: Is there a full, continuous 3-year address history with no gaps?
  • Employment & Income: Are the employment status, job title, and monthly income figures correct? (Watch out for typos like an accidental extra zero!).
  • Vehicle Information: Is the registration mark (VRM), mileage, and vehicle price correct?
  • Finance Details: Are the customer's cash deposit, trade-in deposit, and the overall amount being financed entered correctly?

⚠️ Important: If you find a data entry error, it must be corrected before submitting any further applications.

Step 2: Review the lender's response

When a lender declines an application, its status in the platform will update to Rejected.

  • Open the application in the iVendi Platform.
  • Check the notes or response section for any additional messages, codes, or instructions returned by the lender.
  • Note that lenders do not always return a detailed reason for their credit decision through the iVendi Platform.

Step 3: Speak to the lender directly

Because credit decisions are entirely the responsibility of the finance provider, iVendi cannot see why a customer was declined or overturn a lender's decision.

If the application details are correct and you need to understand the credit decision, contact the lender's underwriting team directly. They are best placed to discuss the application details and advise you on their decision.

Step 4: Avoid repeated submissions

If an application is declined, avoid repeatedly submitting the exact same application to the same or other lenders without checking the details.

  • Multiple rapid submissions (hard credit searches) can impact a customer's credit score and reduce their chances of approval.
  • If data entry errors were made, correct them first.
  • If the data was correct, discuss the situation with the lender or follow your dealership's established process for finding an alternative finance provider.

Is it a technical issue?

While we cannot change a credit decision, our Product Support team is always on hand if you suspect a technical fault with how the application was handled.

Get in touch with us if you notice:

  • An error message appeared on screen during submission.
  • The status in the platform doesn't match the decision the lender's underwriting team gave you.
  • The lender's response or decision notes are blank or displaying incorrectly in the platform.
  • You believe incorrect data was transmitted in error.

To help us investigate, please email Support@iVendi.com with:

  • Dealership Name
  • Lender Name
  • Current Application Status
  • A brief description of the technical issue
  • Screenshots of the error or status, where possible