Introduction
The Customer Needs Analysis tab is a great way to qualify or quote your customers on what their expected Finance details will be, prior to beginning the application process.
Instructions
Note: Some of the information added into the Quote will populate into the actual application, to avoid you having to double enter the information!
Vehicle Details
On the tab, you will first see the vehicle details, which should be pre-populated from the information that has come through automatically from your DMS, Finance Score or CarSales. If not, simply choose the Make, Model, Year and Variant of the vehicle the customer wishes to finance.
Quote
Next is the Quote tool, where you can enter:
Product Type: The Customer type that you are financing the vehicle for i.e. Consumer, Business etc.
Term: The length of the finance contract
Predominant Usage: The purpose the vehicle will be used for
Quoted Payment: What the amount will be (typically calculated by the amount borrowed divided by the term)
Repayment Frequency: Whether the repayment will be made weekly, fortnightly or monthly
Residual / Balloon: A Yes or No toggle for whether you are quoting a residual / balloon payment. Also, you can add either a percentage or dollar value underneath the toggle
Capacity Assessment Completed: A Yes / No toggle for whether you have completed the capacity assessment
Capacity Evident: A Yes / No toggle as to whether the capacity calculation has had evidence provided or is implied
Executed By: For compliance reasons, you will need to use the drop-down to add your name to say that you have completed the Capacity checks
Customer qualification for pre-approval of proposed application based on capacity and credit profile meets criteria: A Yes / No toggle as to whether the customer has been pre-approved based on the corresponding criteria
Executed By: For compliance reasons, you will need to use the drop-down to add your name to say that you have completed the Capacity checks
Needs Analysis Question
What amount do you need to Finance? This is where you enter the application value the customer is financing
Would you like to contribute any Deposit? This is the deposit amount the customer will be contributing outside of a Trade-In (if applicable)
What is your required Loan Term? The term of the loan the customer has agreed to
Do you require a balloon? If the customer does require a balloon as part of their finance, enter the dollar value here
What would you predominately use the vehicle for? Enter whether the vehicle's purpose is either Consumer or Commercial use
Monthly general living expense: This is an estimate of the customers total monthly general expenses including such things as mortgage/rent, food, bills etc.
Comments in regards to possible future hardship: Enter any comments here where the customer may have issue meeting the expectations of the loan
Additional Needs
KM's travelled by year: An estimate value of the kilometres the customer will travel in one year
Intended term to keep vehicle: With most customers not keeping New/Demo vehicles the full term of the finance contract, this is an estimate as to how long they will own the vehicle before looking to trade it in
What is important to the client at the end of the term? Between Ownership, Cash Flow or Upgrading, what the customer is looking to achieve with the vehicle at the end of the term
How will the vehicle be used for predominantly Business use? For those vehicles that are being used for Business purposes, what is the intended business type i.e. Industrial, Construction, Transport etc.
Additional comments regarding customer needs / objectives: Any comments that you feel are required to be entered on the application regarding the usage of the vehicle for your customer
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