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Application FAQs

  • How does the e-sign system work?

    The e-sign system uses trusted, independent data sources to validate a person’s identity. Even though the process is a little more involved, here at Oodle we pride ourselves on keeping our customers information secure. 

    What you’ll receive first is a unique verification code shared via an email from Oodle. There will also be a link taking you directly to the e-sign platform website. 

    From here you’ll be asked for your surname, date of birth and postcode. You’ll be required to read some important information about the agreement and data checks before proceeding. 

    We’ll then do your driving licence check. You’ll need to provide some details from your driving licence, exactly as printed on the licence card. But don’t worry if you fail the check, you can try again. 

    Once you’ve been successful, you’ll be presented with the hire purchase document. If you’re happy with the terms, enter the unique code from the original email to confirm you’re ready to proceed. 

    Check the boxes for your marketing preferences and tell us your preferred payment date. Then go through a paperless Direct Debit process. Here you’ll be asked some qualifying questions before receiving a Direct Debit statement. 

  • What is a quotation?

    When you submit your application for car finance, Oodle will issue you with a quotation. 

     This is a summary of the car finance package available to you, including the APR, total cost, monthly payments and an overview of the finance on offer.

  • Can I make a joint application?

    Yes, you can make a joint application with Oodle to finance your next vehicle. We love car sharing, and good old teamwork.

  • How long will it take to get approved?

    Seconds! For the majority of our potential members our automated underwriting will give you an answer in seconds. 

    There’s always the odd case where our Oodle underwriters may need to review the application, but even this will normally be within the hour. 

    We work as quickly as possible, and we use the latest technology to ensure we get the most accurate and correct data. After all, Oodle only likes to offer a smooth ride.

  • Can I remove a joint applicant from my agreement?

    When you make a joint application with Oodle you’re both tied to that contract until the very last payment. Although, there are ways you can exit the agreement:

     1) Settle the agreement in full

    2) Part exchange the car through a dealer and take a new finance agreement out with Oodle in your own name.

  • What is Open Banking?

    Open Banking is a service that allows customers of UK banks to share some of their financial data with authorised businesses.

    It allows customers to authorise their bank to share the electronic equivalent of bank statements quickly and simply. If you use Open Banking your bank will only share data with businesses you authorise, and you can withdraw that consent at any time.

    Businesses that use Open Banking are regulated by the Financial Conduct Authority. These businesses are varied but include those who provide tools for managing your money in one place and finance companies such as Oodle.

    A business asking for Open Banking access should always tell you what data they will access, how they will use it and how long they will have access to it for.

    At Oodle we use Open banking in two ways:

    1. If you apply for a new loan we want to make sure it is affordable for you. To help us do this we may ask you for documents such as bank statements but you can also use Open Banking to share the same information in minutes, so it is simpler and quicker for you.
    2. If you are struggling with your payments to an existing Oodle loan we will try to help you. To understand your financial position and how best to help you we might ask for access to your bank statements via Open Banking. You can provide this information manually if you prefer but using Open Banking makes the process easier and quicker.

    If you want to learn more about Open Banking, click here.

    To understand more about how we use your personal data accessed via Open Banking, please see our privacy notice here.

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