Codeweavers launches tool to improve car finance approval rates

Software provider Codeweavers has launched a new product designed to help car retailers recover finance applications that are initially declined and reduce customer drop-off during the purchasing process.

The tool, called Lender Switch, allows retailers to transfer a rejected finance application to another lender without re-entering customer or vehicle information. When an application is declined, dealers using Codeweavers’ Showroom platform can submit the same proposal to alternative lenders or brokers on their approved panels using the existing data from the original application.

The company said the system is intended to streamline the reapplication process, which can otherwise require customers to repeat information when applying with multiple lenders.

Adam Canay, head of retail and partnerships at Codeweavers, said the product was designed to reduce friction in the process of reapplying for finance.

“Lender Switch is an incredibly valuable addition to our product suite, delivering benefits to stakeholders across the entire lending and retailing process,” he said.

“By reducing the friction to customers experience when reapplying for car finance, retailers reduce customer drop-off and improve conversion rates. It also simplifies the process for retailers to re-propose to lenders and brokers, giving finance providers more opportunities to capture declined business.”

Lender Switch was developed in collaboration with MotoNovo Finance. The new process was tested through MotoNovo’s MotoPro platform, also developed by Codeweavers, in a pilot programme involving dealers and customers over more than two months in late 2025.

According to the companies, around 80% of customers who entered the pilot programme completed the Lender Switch journey and reapplied for finance through an alternative provider.

Matthew Lucas, head of partnerships at MotoNovo Finance, said the initiative was intended to simplify a process that can otherwise be time-consuming.

“This joint initiative with Codeweavers is a significant step forward in making a time-consuming process a lot more seamless,” he said.

“There was a clear opportunity in the reapplication process to help prospective customers find a viable finance option without having to repeat themselves across multiple applications.”

The product is now available to MotoNovo MotoPro dealer partners, with plans to extend the system to additional lenders in the coming months.