The Vehicle Info section is used to enter information about the
vehicle and proposed financial terms of the loan. The Vehicle Info
page is divided into four sections:
- Vehicle Type
- Make and Model
- Vehicle Value
- Vehicle Sales Price
- Vehicle License
- Vehicle Color
- Vehicle Options
- NADA/KBB Info - You have the option to type in the information or import information from NADA or KBB via the its Lookup.
- Total Car Value
- Amt. Requested
- Proposed Approved Amount
- Down Payment
- Loan Term (months)
- Purpose Type - Purpose of the loan.
- Max Advance
- Max Advance Value
- Inspected By
- Inspected Date
If the applicant intends to make a trade-in,
enter the trade-in vehicle information in this section. The financial
information will be use to calculate the Total Car Price.
- Trade VIN
- Trade Make
- Trade Model
- Trade Year
- Trade Type - Vehicle type of the trade-in.
- Trade Value
- Trade Payoff
These fields are used to adjust the Total Car Price,
which is based on the Vehicle Value. The (+)plus
and (-)minus symbols in parentheses indicate whether the amount entered
in the field is added to or subtracted from the Total
Car Price, respectively.
For example, if the vehicle the consumer is purchasing is valued at $8,000, and the applicant intends to trade in their existing car that has a value of $1,000, the Total Car Price would be $8,000 - $1,000 = $7,000.00.
- (-) Trade Allowance - The amount owed on the trade-in.
- (-) Rebate
- (+) Tax
- (+) License
- (+) Additional Items
- (+) Credit Life
- (+) Credit Disability
- (+) Debt Cancellation
- (+) GAP
- (+) Service Contract
- Total Car Price - Total car price after vehicle value, trade allowance, tax, credit life insurance, credit disability, gap insurance, and service contract has been included.