Quick Finance Quote

Purpose To allow salespeople to quickly provide pricing and payment information to a prospect without creating a sales contract. Quick Finance Quotes can be viewed or printed but are not saved in the system.

From the menu select Sales Management, Sales Functions, Sales Functions, Quick Quote

Cash Price – Enter total Cash Price of the sales contract.
Trade Allowance – Enter the amount for Trade Allowance.
Trade Due – Enter Trade Due amount.
Down Payment – Enter Down Payment amount.
Warranties – This field defaults to the amount in the Warranties field in the Charges Summary tab. Click on the Detail button to view details of the Warranty Code. In the Warranty Code detail screen you can change the Warranty Code and the Price. Click the Update button to save changes to the Warranties field. Warranty Codes are maintained in Warranty Code Maintenance on the Codes Maintenance menu under the B/M/T Sales menu.
Sales Tax – After entering at least a Cash Price, click the Detail button for the tax to be calculated.
Tax Schema – Defaults to the Tax Schema defined in either the Postal Code on the Location, or in Boat Sales Parameters. Tax Schemas are maintained in Tax Schemas on the Tax Info menu under the File Maintenance menu.
Doc Stamps – If the Doc Stamps Cents / $100 field in the Financial Information tab of Boat Sales Parameters is defined, this field defaults to a calculation based on that value after the Sales Tax has been calculated for the quote.
Credit Life – If a Credit Life Insurance Code is defined in the Finance Info tab of Boat Sales Parameters, this check box will be active and checked and will automatically be filled in after a Cash Price has been entered and the Sales Tax has been calculated for the quote. Depending on how the Credit Life insurance code is defined, either Gross or Net will be in parenthesis to the right of this field. This determines how the amount is calculated. Credit Life Insurance codes are maintained in Credit Life Insurance Maintenance on the Codes Maintenance menu. If you wish to remove Credit Life insurance from the sales contract you can deselect the check box. Click the Detail button to view all insurance information (see Insurance Information Detail Form section below).
Level Life – Level Life insurance covers what Credit Life insurance and balloon amount do not cover. Click the Detail button to select a Credit Life insurance code for Level Life. Then click the Update button in the Insurance Information Detail Form to activate Level Life insurance. See Insurance Information Detail Form section below.
Acc. & Health – If an Accident & Health Insurance Code is defined in the Finance Info tab of Boat Sales Parameters, this check box will be active and checked. The amount is based on the definition for the Accident & Health Insurance Code. Accident & Health Insurance codes are maintained in Accident & Health Insurance Maintenance on the Codes Maintenance menu. If you wish to remove Accident & Health insurance from the sales contract you can deselect the check box. Click the Detail button to view all insurance information (see Insurance Information Detail section below).
Gap Insurance – If a Gap Insurance Code is defined in the Finance Info tab of Boat Sales Parameters, this check box will be active and checked. The amount is based on the definition for the Gap Insurance Code. Gap Insurance codes are maintained in Gap Insurance Maintenance on the Codes Maintenance menu. If you wish to remove Gap Insurance from the sales contract you can deselect the check box. Click the Detail button to view all insurance information (see Insurance Information Detail section below).

-- Insurance Information Detail Form –-

Clicking the Detail button next to Credit Life, Level Life, Acc. & Health, or Gap Insurance fields brings up the Insurance Information form. In this window you can view and edit each of the types of insurance.

Debtor & Codebtor section

Debtor’s Birthday – Enter debtor’s birthday. Date format is mm/dd/yyyy.
Codebtor’s Birthday – Enter codebtor’s birthday. Date format is mm/dd/yyyy.
Joint Policy – Check this check box if this is a joint policy for debtor and codebtor.

Credit Life Insurance Information section

Code – If the Credit Life check box is active in the Finance Info tab of Sales Contract Maintenance this field will default to the Credit Life Insurance code defined in the Finance Information tab of Boat Sales Parameters. You can edit this field. If the Credit Life check box is not active you can select a Credit Life Insurance code by pressing the F6 key or clicking the List F6 link in the Command Panel.
Term – If the Credit Life box is active in the Finance Info tab of Sales Contract Maintenance this field will default to the Maximum Term defined for the Credit Life Insurance code defined in the Finance Info tab of Boat Sales Parameters. You can edit this field.
Rate – If the Credit Life box is active in the Finance Info tab of Sales Contract Maintenance this field will default to a calculation of the Rate and F&I Program defined for the Credit Life Insurance code. You can edit this field.
Compare Credit Life Insurance – Check this box to compare Credit Life Insurance.

Level Life Insurance Information section

Code – Press the F6 key or click the List F6 link in the Command Panel to see a list of Credit Life Insurance codes.
Term – The Term defaults to the maximum loan term defined in the Finance Information tab of Boat Sales Parameters. This field cannot be edited.
Rate – The Rate defaults to the rate defined for the selected Credit Life insurance code.

Accident & Health Insurance Information section

Code – If the Acc & Health check box is active in the Finance Info tab of Sales Contract Maintenance this field will default to the Accident & Health insurance code defined in the Finance Info tab of Boat Sales Parameters. You can edit this field. If the Acc & Health check box is not active you can select an Accident & Health insurance code by pressing the F6 key or clicking the List F6 link in the Command Panel.
Term – If the Acc & Health check box is active in the Finance Info tab of Sales Contract Maintenance this field will default to the Maximum Term for the Accident & Health insurance code defined in the Finance Info tab of Boat Sales Parameters. You can edit this field.
Rate – If the Acc & Health check box is active in the Finance Info tab of Sales Contract Maintenance this field will default to the Rate for the Accident & Health insurance code defined in the Finance Information tab of Boat Sales Parameters. You can edit this field.

GAP Insurance Information section

Code – If the Gap Insurance check box is active in the Finance Info tab of Sales Contract Maintenance this field will default to the Gap Insurance code defined in the Finance Information tab of Boat Sales Parameters. You can edit this field. If the Gap Insurance check box is not active you can select a Gap Insurance code by pressing the F6 key or clicking the List F6 link in the Command Panel.
Term – This field defaults to the value of the Max Term field in the Gap Insurance code selected. This field is not editable. Gap Insurance codes are maintained in Gap Insurance Maintenance on the Codes Maintenance menu.
Rate – The Rate field defaults to a value based on the Max Amount Financed and Price fields of the Gap Insurance code selected. See Gap Insurance Maintenance on the Codes Maintenance menu for an explanation of how the Cost and Price for Gap insurance are determined.
Amount Financed – The amount financed is the sum of all the fields listed above. If you edit this field, the Down Payment amount automatically adjusts so that the sum of the fields above Amount Due equals the new Amount Financed. The only fields that are changeable are Down Payment, Tag & Registration, UCC Fees, and the life insurance fields (after clicking the Detail button next to the insurance type). If the Amount Financed, or one of the other fields mentioned above is changed, you must click out of the Finance Info tab and then click on the Finance Info tab for the new Finance Charge and Total Amount to be calculated.
Finance Charges – The finance charges are automatically calculated based on definitions in the Finance Info tab of Boat Sales Parameters. This field cannot be edited.
Total Amount – The total amount is the sum of the Amount Financed and the Finance Charge.
Loan Term – Defaults to the Loan Term defined in the Charges section of the Finance Information tab of Boat Sales Parameters. This field can be changed by entering a new value in the field or by clicking either the Plus 6 Months button or the Minus 6 Months button to the right of the Loan Term field. If the Loan Term is changed, values for the following fields automatically update: Sales Tax, Credit Life, Amount Financed, Finance Charge, and Total Amount.

-- Loan Info Grid –-

Initial Balance – This defaults to the Amount Financed and cannot be edited. If the Amount Financed or any of the editable amount fields is changed, this field will be automatically updated.
Rate % – Defaults to the Annual Percentage Rate defined in the Charges section of the Finance Information tab of Boat Sales Parameters.
of Months – Defaults to the value in the Loan Term field in the Charges section of the Finance Information tab of Boat Sales Parameters. This field can be changed by entering a new value in the field or by clicking either the Plus 6 Months button or the Minus 6 Months button to the right of the Loan Term field. If the Loan Term is changed, values for the following fields automatically adjust: Sales Tax, Credit Life, Amount Financed, Finance Charge, and Total Amount.
Ending Balance – The ending balance is the balance after the principal and interest are paid.
Payment – Monthly payment amount base on finance information
Interest Paid – Defaults to the Finance Charge and cannot be edited. If the Amount Financed or any of the other editable amount fields are changed, this field will automatically be updated.
Principal Paid – Shows the Principal paid over the course of the loan. This field cannot be edited. If the Amount Financed or any of the editable amount fields is changed, this field will be automatically updated.

-- Buttons –-

Calculate – Click the Calculate button to recalculate financial information after changing one of the editable fields.
Rollback – The Rollback feature allows you to enter a desired monthly payment amount and the system will calculate the adjustment that must be made to one of the following: Invoice Price, Trade Allowance, Down Payment, or APR (Annual Percentage Rate).