Retail
Before quoting a payoff, check for a possible
Second Lien
The following parties are considered approved callers/requestors of a payoff quote:
Customers and non-contracted spouses
GM Dealership
GM Financial will quote or accept lease payoffs from non-GM dealers
False
What is the payoff quote script we should be providing to a customer requesting a 10 day payoff quote?
"This is a 10-day Payoff Quote good through [date]. The payoff quote amount is subject to change if the payoff quote expires, changes to the account payment history occur, or if additional fees assess to the account"
The following are Non-Direct Sale states:
Arizona (AZ)
Arkansas (AR)
Colorado (CO)
Florida (FL)
Hawaii (HI)
Iowa (IA)
Kansas (KS)
North Carolina (NC)
Pennsylvania (PA)
South Dakota (SD)
Wisconsin (WI)
Vermont (VT)
Payoff letters sent to Indiana customers must include a ___
same-day payoff quote
For Third Party payoffs the customer must fill out the __
Consent for Lease Purchase Quote to a Third Party form
We can/should provide payoff quotes to authorized requestors when the account is passed the maturity date.
False. After maturity, the account should be transferred to Expired Loans, and no further payoff quotes should be given.
In the state of Indiana, all written payoff letters must reflect a
a one-day payoff quote
Dealers and banks are not eligible to receive the Payoff Letter through ___
Lightico ; a GTA must be submitted.
When quoting a direct-sale payoff, advise the caller that the following documents must also be signed and returned to have the title released after payoff:
Odometer Statement
Title Instructions (where the title documents should be sent)
Damage disclosure (only required in Iowa, Minnesota, New York, or North Carolina)
The Nanci system does advise that there is a 2nd lien/Georgia TAVT on the account when providing a payoff quote.
True
The lease payoff quote amount and disclosures may be different depending on where the account is being ___
Sold
For standard payoffs, provide a ___ quote
10 day
___ payoff quote for standard lease payoff quotes
___ payoff quote if a Lease Purchase Option Letter is being sent by mail
___ payoff quote if quoting to a customer in a Non-Direct state
10 day
15 day
15 day
You should submit a 10-day payoff quote if quoting to a customer in a Non-Direct state
False ; must be a 15 day
If providing a payoff in a state where sales tax is not included in the quote, advise:
they may be required to pay it directly to the DMV upon vehicle registration/transfer of ownership
The Title Status field in the General Information section of the Customer Servicing Screen will read _______ if there is a second lien
2ND LIEN ON TITLE
Sending a payoff letter for Non-Direct Sale Purchases The letter will include the ____
payoff quote only
True: "This is a 10-day quote for the remaining lease obligation good through [Date]. This quote is subject to change if the quote expires, there are changes to the payment history, or additional fees are posted to the account"
If the customer does not know where a GM dealership is located, use the ______ to find a GM dealership near the customer's location.
Dealer Locator