Sales Finance and Auto Finance

The Loan Manager breaks down two major financial processes that are intertwined: Sales and Auto transactions. Loan Manager makes these joint yet often very distinctive tracking tasks easy and less time-consuming overall.

 

Sales Finance

  • Three reserve from charges and/or principal fields calculated or entered
  • Participation reserve paid or held for future payment
  • Tracks volume and outstanding losses by dealer, by month and year
  • Pays dealer through ACH if desired
  • Establishes full, partial or non-recourse accounts
  • Tracks and earns dealer discount
  • Participation reserve used to increase dealer check
  • Weekly, semi-monthly, bi-monthly, and monthly payment plans
  • Revolving credit system
  • Option to write one check to dealer for more than one contract
  • Sales finance quoter can be saved and recalled when contract arrives
  • Dealer tracking and relationship management reporting

Auto Finance

  • Option to enter down payment and/or trade in
  • Search for customer by last six digits of VPN
  • Track repossession information
  • Collateral screen includes year, make model, title number, VIN and mileage
  • Option on warranty insurance to pay dealer a commission
  • Support monthly, semi or bi-monthly payment plans
  • Track auto insurance information

ParaData currently has been installed in over 150 customers with more than 1000 locations in 44 states and Mexico. These verticals and industries include:

  • Small consumer loans
  • Large public consumer and automobile finance companies
  • Mortgage loan and broker companies
  • Automobile dealerships with their own finance companies
  • Mobile home finance companies
  • Commercial finance

Contact us today for more information.