LEASE
What is the MF increase from tier 1 to a 2 on incentivized leases?
.00042
Where do you find the dealer's address in CARS?
"Fax to dealer" or hover over DBA
Expired approval protocol: Contract comes into funding on same day expired. Can we proceed?
No, we count approval date as Day 1 on our 30 day approval.
Who can adjust a lease tradeline from the debt pad?
Manager or above
What is the maximum allowed $ amount for Dealer installed options?
$1200
Where do you locate a decision id in CARS?
1. Approval terms (reason tab) 2. Maintenance screen
Who do we contact to validate a CARS fee on an incentivized deal?
@Mailbox Incentives CCAP
What does HUD stand for?
Housing Urban Development
What field in Credit.net (be specific) will let you know if customer qualifies for Customer Loyalty program?
Pricing group
What is the maximum markup on an Acquisition fee?
$300
What is the max tolerance allowed for REG Z variance?
.00125
What are the requirements to use DS80 retier in CARS?
Pricing tier tier must get worse and Nutlv must increase up to a maximum 2.5%
Who has the authority to waive a trade stip?
Buyers and above
What are the maximum thresholds for Ultv, Ltv, and Pti on our 84 month program?
115%, 120% and 14% respectively.
What is the MF markup on incentivized >24 term on a sign and drive?
.00029
What is the max participation percentage we will payout?
2.5%
How much extra value is given for CPO- FCA units?
$1,000
What Stip # is added when manually requiring a unit to be traded in?
1362
What does Lti stand for?
Loan to Income derived from Loan/monthly income
How do you calculate max advance on a lease - must be specific with the field in CARS...
How do we calculate the check amount paid to dealers on a lease?
Adjusted cap cost - first payment - acq fee - security deposit + part
Name 2 scenarios where we would use the "Copy Application" feature.
Granting a 2nd unit, Unwind or Total Loss within 30 days.
True or False- Our debt methodology is aligned with only 1 bureau, Experian.
False
How can we identify a National Account dealership in Credit?
Color coded green