Dealer Financing (Buy Here/Pay Here)

The software supports in-house dealer financing, also known as Buy Here/Pay Here This window can be accessed by clicking on the Dealer Financing tab at the right-hand side of the screen and will allow you to access all major functions to keep your dealer financed accounts current. From this screen, you can view all active accounts, view payment histories, receive payments, and print various reports.

For in-house dealer financing, you process a customer’s paperwork exactly like any other financed deal with one exception -- you select the finance source that you designate as your in-house financing source. Once a deal is completed and saved using an in-house financing source, all relevant financial information will be transferred over to the software's Buy-Here/Pay-Here module. This module can be accessed by clicking on the Dealer Financing tab located on the right-hand side of the screen.

With the Buy-Here/Pay-Here module, you can take customer payments, print statements, view payment histories, and print various Buy-Here/Pay-Here reports.

The Buy-Here/Pay-Here module allows your dealership to set finance rates, terms and payment frequency. Interest charges are calculated on a daily basis on the existing balance. This method is generally referred to as the simple interest method. You may also assess late charges on a case-by-case basis.

There are two different lists displayed under the Dealer Financing tab. The top list is a list of all your Buy-Here/Pay-Here customers. Click on the name of a Buy-Here/Pay-Here customer to recall the payment history of this customer. The payment history of this customer and the call log history will be displayed in the lower list.

To select between viewing the payment history or call log history for a selected customer, click the appropriate radio button (fill in the appropriate circle) displayed between the customer list section and the history list section.

Special function buttons are also located on the right-hand side of the window. These buttons are:

• Receive Payment -- allows you to enter a payment for a selected customer account.
• Receivable Report -- prints a report of monies currently due to you, the Buy-Here/Pay-Here bank and doubles as a late-payment report.
• Print Pmt Receipt -- re-prints a receipt for a selected payment.
• Receipt Report -- prints a report of all receipts issued/payments collected within a specified time period.
• Edit Payment -- allows you to change the details for a selected payment.
• Recap Report -- prints a report showing the main details of a loan such as vehicle sold, customer name, gross profit, balance, etc.
• Statement -- prints a statement of a selected account's payment history.
• Cash Flow Report -- prints a report projecting the monies you will receive in a specified time period for active loans.
• Pmt Due Statement -- prints coupons for payments that are currently due for customer reminders.
• Income Report -- prints a report which breaks down the main financial components of your deals and shows the expected profit from each deal.
• Pmt Coupons -- prints payment coupons for a selected loan.
• View Deal -- loads the selected loan's deal information and displays the deal screens.
• Edit Letters -- displays the Letter Writer window which allows you to write and edit customized letters such as late notices or thank-you notes.
• Print Letter -- prints a customized letter for a selected loan.