This form enables you to set up a New Hire Purchase Scheme, New HP with Balloon Scheme, New Personal Contract Purchase Scheme or New Leasing Scheme.
Note: Depending on the type of finance scheme being created some fields or tabs may be unavailable or not shown.
Type of Finance: Type of Finance scheme you're looking at.
Short Code: Two character code for this scheme, for example 01
Description: Enter the full description for this scheme.
Finance Group: Used in conjunction with models in Franchise
Data. This limits the models that you can apply this scheme to. Click the drop down 
button to search.
Country Code: This field switches on Country specific calculations. Click the drop down button to search.
Rate type: Determines the way that the percentage
rate of the scheme is expressed, for example flat rate calculations. Click the drop down button to search.
Format descriptor: Enter a three character stationery format that allows a finance proposal to be printed
Notes: Enter free text notes or a link to a web site, if this option is selected the information icon is displayed on the relevant finance scheme on the Select finance company form.
Note: To enable a HTML document place a ! directly before the full URL, this will enable a button on the button right of the screen, click on it to display the web site or picture held on the main processor. Once this is enabled a text button is displayed. click the text button to return to the text format for any amendments required.
Vehicle Age: Minimum: Expressed in years 0 means new. If a vehicle is selected in the quotation process which is less than this age then this scheme will not be displayed.
Vehicle Age: Maximum: Expressed in years, the Maximum age of the vehicle being purchased. If a vehicle is selected in the quotation process which is greater than this age then this scheme will not be displayed.
Amount financed: Minimum: Smallest amount that can be financed with this scheme.
Amount financed: Maximum: Largest amount that can be financed with this scheme. Input zero to indicate no limit.
Interest rate: Minimum: Lowest interest rate that the scheme will allow.
Interest rate: Maximum: Highest interest rate that the scheme will allow.
Interest Rate: Default: The interest rate used when first selecting this scheme.
Period: Minimum: The minimum period that the finance agreement can be undertaken for.
Period: Step: The incremental number of months over which the agreement may be made. For example, if the minimum period is for 12 months and Step is set to 2, the next length of time over which the agreement may be taken out is 14 months, 16 months and so on.
Period: Maximum: The maximum period that the finance agreement can be undertaken for.
Period: Default: The default period used in the quotation.
Mileage: Minimum: The minimum mileage limit.
Mileage: Step: As per Step for period.
Mileage: Maximum: The maximum mileage limit.
Mileage: Default: The default mileage limit.
Deposit (percent): Minimum: The minimum deposit allowed (percentage of vehicle price).
Deposit (percent): Default: The default deposit is calculated in the quotation process using this percentage.
Deposit (amount): Minimum: The minimum deposit as a monetary value.
Deposit (amount): Default: The default deposit as a monetary value.
Deposit includes Trade-in?: A check box indicating whether the Part Exchange value can be included as part of the deposit.
Base interest rate: The base rate used for this scheme. The dealership usually gets commission based on the rate above base that they're charging. For example, if the base is 6.5% and they sell at 7%, they'll get, as commission something like .5% of the finance charges or balance financed.
Payment pause length: This is used to determine the length of the pause before the payment re-commences.
Payment pause period: This is used to determine the point at which the pause occurs.
Acceptance fee 1: Fee paid at beginning, end or spread over the period, held as an fixed amount or a percentage.
When paid: Use the 
to enter when the acceptance fee is paid.
B - Beginning Single payment at the beginning of the contract.
E - End A single payment at the end of the contract.
Acceptance fee 2: Fee paid at beginning, end or spread over the period, held as a fixed amount or a percentage.
When paid: Use the to enter when the acceptance fee is paid.
B - Beginning Single payment at the beginning of the contract.
E - End A single payment at the end of the contract.
Tip: Select the drop down menu facility, adjacent to the When paid field, in order to view /select from all the available options.
Document fee: Documentation fee if applicable, always paid at the end of the period.
Commission Calculation: How the commission is charged, for example percentage of charge. Use the drop down search to choose.
Below are examples of commission calculations based on Purchase price: 10,000 Base rate: 4% Rate charged: 5% Period of loan: 36 months Interest (HP): 1,500 Monthly: 319.44
Tip: In addition to this, the commission can have a further percentage placed on it - usually on DIC types. So, for example, the salesperson will get 10% of the DIC amount (10). There are also lower and higher fixed fees which give boundaries for commission - the salesperson will get at least 10 but no more than 50 on a deal. The amount of commission is displayed on the profit bar in Showroom - it's the 'F' figure.
Percentage of commission: How much of the full commission amount is paid out.
Lower fixed fee: Enter the minimum amount of commission.
Higher fixed fee: Enter the maximum amount of commission.
Max commission percentage: Maximum percentage of the finance charges that can be used for commission.
Max Period: Maximum number of months that the commission applies over.
Credit insurance type: Enter how the Credit Insurance is selected.
Credit insurance can be created or amended at this point.
Credit insurance type: Use the drop down search to select the required type from a pre selected range.
Credit insurance schemes:
Default? Tick this box to set a credit insurance to default when selected in Showroom.
Description The description of the credit insurance type.
Add: Click the add button to create a new Credit Insurance Scheme .
Edit: Displays the details of the pre-selected Credit insurance scheme and allows you to edit them.
Delete: Deletes the pre-selected scheme.
Copy: Creates a new scheme with the same details as the pre-selected scheme. Edit and amend as desired.
Factors:
The factors and adjustments are displayed in a grid and have the following options.
Period Set from the months in the maximum period within the MinMax tab, shown in steps of years, for example 24 months then 36 months.
A Factor Enter the required factor.
Adjustment Enter the required adjustment.
B Factor Enter the required factor.
Adjustment Enter the required adjustment.
Adjustment step: Enter the required adjustment step.
Note: The A factor is used against the balance, while the B factor is used against the residual value. The adjustment defines how much the factor changes for each <step> percentage change of the interest rate from the base rate (for example step is 0.25, adjustment 0.5, factor gets 0.5 added for each 0.25 % charged above base rate.)
A residual value is the value of a vehicle at the end of a finance scheme. Withing this tab values can be defined within Franchise and or Model and or Variant levels.
Franchise Data company: Use the drop down search to select.
Franchise: Use the drop down search to select.
Model code: Use the drop down search to select.
Variant code: Use the drop down search to select.
Note: If a Franchise, Model or Variant combination is not used the residual values apply to all quotations using this finance scheme.
Included in RV: Items that have residual values - (V)ehicles (F)FOs (D)FAs etc.
Residual value type: (M)aximum values or (S)et values.
Tip: A grid is displayed to enter values if there are blank elements (grey boxes) this means that the mileage/period combination is not valid.
Residual are percentage: Select if required.
Residual are fixed values: Select if required.
Excess mileage charge is the amount of money charged as a penalty when exceeding the maximum mileage of a Personal contract Plan (PCP) finance scheme. This can be calculated by mileage/months or selecting Excess by CC from the Finance Maintenance - Finance Company Details.
Franchise Data company: Use the drop down search to select.
Franchise: Use the drop down search to select.
Model code: Use the drop down search to select.
Variant code: Use the drop down search to select.
Note: If a Franchise, Model or Variant combination is not used the excess mileage charge will apply to all quotations using this finance scheme.
Tip: A grid is displayed to enter values either for mileage/months or Excess by CC.
Buttons:
Save: Saves any changes that you have made to the Finance scheme.
Cancel: Returns you to the Finance Maintenance - Finance Company details.
