Payment methods
What is ACH?
AutoCheque – Enroll a customer in AutoCheque
Cs wants lease payoff and is needing financing with us. How do you respond?
Refer them to the dealership.
Do we (TFS) change names on a title?
NO – once account is paid off – we will mail title – they take to DMV to make any changes
What % of the customers payment, do they have to pay in order for it to advance their next payment?
90%
How can I make recurring payments?
Set up recurring payments on website using Citi, Autocheque (ACH) – will need to send out form 0005 or go through their own bank bill pay.
Cs wants lease payoff but has their own financing or is paying cash. How do you respond?
provide lease payoff not including TTL, Fill out 8051xx – go over talking points.
What happens after cs pays off vehicle in an ELT state?
TFS releases ELT LR to DMV and DMV prints free and clear title and mails to cs
Payments are applied in what order?
What states does TFS not conduct direct sale in?
District of Columbia, Florida, Hawaii, Maine, North Carolina, South Carolina, South Dakota and Wisconsin
What happens after cs pays off vehicle in a paper title state?
TFS sends title and/or LR to cs. Cs then takes title and/or LR to DMV; DMV prints free and clear title for cs
Where do you locate the new total loss transfer?
in skills under total loss
What are the ways customers can make principal only payments?
- Online on our website
- sending in check to our principal only location and putting principal only on it
- using any pmnt method and calling in to have us move funds to principal only (5517)
- using any pmnt method and going online to submit a support request to have the funds move to principal only
How do you cancel ACH recurring payments?
fill out 504-50 and submit case under start process
Dealer calls in and wants to know what the dealer payoff for a lease vehicle is- how do you respond?
Quote payoff – you do not have to say not including TTL. Ask if they are inquiring or preceding - proceeding go over talking points
In the state of Florida do they mail out the paper title to cs after we ELT released LR?
no, only if cs request it from DMV or moves to another state
when does tfs report to the credit agencies?
last business day of the month
What is the minimum amount a customer would need to pay if the monthly payment amount is $1000 and they are currently due for April in order for the next payment due date to be June?
1900
How do you cancel recurring pmnt online or through cs bank pay?
adv customer they need to do it and offer to walk them through it – if it through their own bank bill pay – adv customer they need to contact bank
What are the DM form that we send for lease and retail payoff letters?
retail: 300-01
Lease:600-01
While the cust is at the DMV, we faxed over a lien for an incorrect vehicle. What department can help resolve the issue?
Our title specialist- Admin title escalation under transfers
what is the estimated process time of TOL?
It can take up to 60 days. Right now, it is taking up to 90 days
My regular payment is $450, what happens when I pay $500?
Any payment made in excess of the total amount due will automatically go toward principal and pay toward the next month’s payment.
OR
It is critical to present the customer with both options and ask which they would prefer.