<< Click to Display Table of Contents >> Navigation:  Using The System > Basic Features > Deal Processing > Processing a New Deal > Step 1: Start New Deal > Entering Payment Information

 

 

Once the Preliminary Information section has been completed, finish the remaining fields of the Payment Information section.

As you enter information, the calculated payment will be updated automatically and will be highlighted and displayed near the bottom of the window.

The software will calculate two different finance rates for the deal.

➢The first, shown on the disclosure sheet as A.P.R., is the percentage rate charged on the amount borrowed (principal).

➢The second, shown on the disclosure sheet as Fed A.P.R., is the annual percentage rate as calculated under the Federal Government's Truth In Lending Act.

➢Access the Disclosure by clicking on 'Disclosure' found in the list on the far left side of the screen.

➢Click here to get more information about the Disclosure function.

 

For CA and TX dealers: you will also see a third finance rate on your disclosure sheet. This rate is the add-on rate as required by your state's financing regulations, and it is labeled as Add-On Rate on the disclosure statement.

Deferred Down Payments

The system also allows you to schedule and accept deferred down payments (also known as "pick-up" notes).

Click here to learn more about Deferred Down Payments.