BlogEstimating a Lien Payout
Estimating a Lien Payout
Did you know you are able to quickly calculate an estimated lien payout
on a trade without having to contact the customers bank?... Let me show
Step #1 - From the Deals screen (in edit mode), click on the blue arrow pointing to the lien field in the deal input column on the left. This will bring up the lien calculator.
Step #2 - Enter the appropriate amounts for "Amount of payment, Interest rate, Amortization period and # of payments made". This will give you the estimated payout amount.
Step #3 - Click on the "Apply payout" button if you wish to enter the payout amount into the lien field of the deal.
Step #4 - Click the Back button to take you back to the deal screen.
You have now entered the estimated amount of the lien on a trade without having to call the bank before knowing if your customer is a qualified buyer. This should save you an extra step or two. If you do not have an arrow next to the lien field, you may not have the latest version of our Q-F&I software.
Did you know all upgrades are no extra cost to you? Well now you know! Feel free to contact us if you would like to upgrade your software and take advantage of some of the newest features.