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Overview

 Objective

The Finance Options and Show Payments around features are included for all clients using the iCommand Center CMS. Finance Options allows dealers to set specific starting parameters for their payment calculator and allows dealers to use the Show Payments Around feature where it breaks down the lowest price displayed on an inventory unit into monthly payments.

For a dealer to be able to display monthly payment for each unit, they must first have finance terms added into the Finance Options feature.

Both of these pieces are also a prerequisite for enabling the Monthly Payment Filter within the Search Filter area.

How Does it Work

Typically we will need to create multiple financing term sections to create certain “buckets” that the unit prices will fall within. The price of the RV will have different financing terms based on their lender requirements for condition, year, and price. So we need to create as many financing option criteria to ensure each of the dealers inventory falls within some financing structure. The dealer will always be providing this information as we do not know their financing terms with their lenders.

When we say “financing terms” we mean all financing details such as percent down, interest rate, terms in months.

The financing options work based on the lowest price of the unit that is in iCC. So if a dealer only has a MSRP on a specific unit, it will do the calculations based on the MSRP. If the dealer has a price in the Sales Price field, it will calculate the monthly price based on the Sale Price.

Typically when we are adding the financing terms to the Finance Options it is for dealers to display the estimated monthly payment. To show the estimated monthly payment on each unit listing/detail page, you will need to enable the Show Payments Around by checking the box.

Finance Options

• New/Used: This means these financing terms will only be applied to a specific condition. The selection allows for New, Used, and Any. If the dealer wants the financing terms to be applied to all units, Any would be selected.

• Year (Min): If a year is added into this field, it will only display the financing terms for that year and newer. No year needs to be added if they want all years to be available for these financing terms.

• Amount (Max): This is typically required to ensure that we are applying the correct terms based on the price of the unit. If the dealer wants to have specific terms for RV’s priced $29,999 and under, then we will set the Max Amount to $29,999 so that means anything $29,999 and under would display the specific financing terms added. If a dealer just wants to use generic financing terms for all their units, no price needs to be added.

• Lot: we can tell the system to only consider inventory units within a specific lot to follow these financing terms. If left blank then all lot locations will apply the same financing terms.

• Product Group: this selection allows us to apply different terms for deferent types of units dealers may carry. Some dealerships have different financing for towable than motorhomes or different terms for boats vs RVs.

• Percent Down: this is how much a customer would have to pay up front to get the specific monthly price on a unit. Most dealers require a specific amount down to match the rest of the financing terms.

  • Format: This must be in a decimal format so that means 10% down we have to add 0.10 in the field.

• Interest Rate: this is the rate that applies to the price of the unit. Rates can change all the time but dealers can select what rate would best apply for their users. Some dealers add a rate only for shoppers with the best credit to show what is the lowest possible rate that the user could get. Other dealers will find a rate that is middle of the road. These rates are all subject to the credit factors of the user.

  • Format: This must be in a decimal format so that means 8% rate we have to add as 0.08

• Terms in Months: this means the amount of months that someone would have to pay off the loan for the specific unit.

  • Format: This just needs to be broken down by how many months. So if the dealer gives us 5 years, we need to provide how many months that would be and add that number into the field.

• Taxes: many dealers do not apply taxes within their monthly price. With Canadian dealers some of them it is required that they include taxes and fees in their bi-weekly payment. If dealer does wish to include taxes in their monthly price, you would add that percent of taxes in this field.

  • Format: This must be in a decimal format so that means 8% rate we have to add as 0.08

• Fees:

  • This field is for dealers that want to include all their fees into the monthly price. With Canadian dealers some of them it is required that they include taxes and fees in their bi-weekly payment.

    • Format: This is just a numeric field that can only have one total number in it. So if the dealer has multiple fees, they will have to add all their fees together and add it as a single number.

Whether you are adding the Finance Options or enabling the Show Payments Around, you will need to click the Save and Publish at the bottom of the page in the CMS for changes to take affect.

Customizations to how the Payments From can be styled on the Listing and Detail pages can be done by the Front End Development team. Those specific would have to be included in the setup task for that team.

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Technical Details

 Requirements

 User interaction and design

Open

Finance Options and Show Payments Around Control in the CMS

Open

Default Styling for the Listing Page showing the Est. Monthly Payment

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Additional Details

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