USER
GUIDE SUPPLEMENT
LeaseScan Version
6.0 - Program Enhancements
INTRODUCTION
Performance Leasing Systems, Inc.
is pleased to provide you with the latest LeaseScan program
enhancements. We anticipate rollout of LeaseScan Version 6.0 as part of your normal
update procedure sometime during the week of February 21, 2000. This guide will make an effort to put in
plain words the new data entry screens you will discover when you get this new
version. These new features will
provide a more logical, user-friendly environment to enter deal information.
GETTING TO KNOW THE “NEW” FAST QUOTE SCREEN … an
OVERVIEW
At first
glance, you will notice that the top third of the Fast Quote Screen has been
reorganized. In the top left hand box;
Window Sticker, Discount Package and Invoice (Cost) fields have been
separated. By separating these fields,
you can now go to a previous field to correct an entry without having to modify
the deal again. Trade ACV and Trade
Payoff are now found directly below the Invoice (Cost) Field. It should be noted that the green
colored text used in the description of the above fields indicates that data
entered in these fields will affect all calculations in
your deal. Relocating the above mentioned data entry fields groups together all
fields that affect both retail and lease calculations.
In the second or middle box on the
top third of the Fast Quote Screen you will now find; Retail Profit, Cash
Difference, Additional Down Payment, Cash Rebates, and Credit Score. In this case, the blue
colored text is used to indicate that entries made in these fields will affect conventional
finance calculations only.
Finally, Credit Score is no longer a pop-up field but is found below the
Cash Rebates field. By entering a
credit score, those lenders that adjust program parameters based on credit
scoring criteria will adjust automatically.
The white text used in the description of the field
indicates that an entry here will affect leases and balloon note
calculations only.
Finally, in the third or right
hand box on the top third of the Fast Quote Screen, data entry fields have been
reorganized too. The Undisclosed Charge
field has been eliminated and replaced by the Initial Miles field. You will now find; Miles Per Year, Trade
Down Payment, Security Deposit, and Total Cash Due located here. The white text is used
in the above fields to indicate that entries made in these fields will affect leases
and balloon note calculations only. Other changes you will see are the insertion of the word “STD”
in both the Security
Deposit and Total Cash Due fields. “STD”
in the Security Deposit field indicates that the default Security Deposit will
be automatically calculated. The “STD”
default setting in the ‘TOTAL CASH DUE” field calculates the normal upfront
charges due at lease inception (i.e., first payment, security deposit/last
payment, L&T, etc.). Both the
Security Deposit field and the Total Cash Due field are explained in detail
later in this guide.
LEASE INFORMATION SCREEN … an
OVERVIEW
Changes have also occurred in the Lease Information Screen as to the placement of certain data fields, the addition of a new data field, the deletion of a data field, and the default values within certain fields. A new data field has been added for “ASSIGNMENT FEE” and is user adjustable. The deleted field is “UNDISCLOSED CHARGE”. In the past, you could not transfer a deal from the Fast Quote to the Lease Information Screen if the Lease Information Screen already had a deal with the same Customer Name and Stock Number. Now you have the three choices when this happens. You can “OVERWRITE” the existing deal in the Lease Information Screen with the new deal from the Fast Quote. Alternatively, you can select “NEW” to give your new deal a different name and/or stock number and save it without affecting the existing deal. Lastly, you can select “RETURN” to display the existing deal. Additionally, the following changes have occurred on the FUNCTION BAR. “DLR” has been replaced with “SALE” (allows you to change Dealer Profile and the Salesperson’s Name attached to a deal; the functionality is the same as before). “DISC” (Disclosure Screen – same as on Fast Quote Screen) which performs the same function as the F9 key. “HELP” (Help Screen – same as on the Fast Quote Screen) which performs the same function as the F1 key. An additional change will be seen in the default value found in both the Residual field and Base Interest field. The previous default value was “-1” and is now replaced with the word “AUTO”. The ASSIGNMENT FEE field is defaulted with the word “AUTO” and the SECURITY DEPOSIT field is now defaulted with the word “STD”.
In nearly every changed field the old negative values (-1, -2, -35) used in LeaseScan Version 5.0 work in the same manner in LeaseScan Version 6.0
WORKING WITH LeaseScan Version 6.0
A. Multiple Dealer Profiles and Taxing Parameters (Fast Quote & Lease Information Screen
1. To set up Multiple Dealer Profiles and Taxing Parameters you must enter LeaseScan as System Administrator.
2.
Select Dealer
Information Screen.
3. Choose
“COPY” Function.
4. Choose
CL/AH defaults (do this only if you wish to add this feature initially to each
new deal).
5.
Input next Dealer
Number.
6.
Modify existing dealer
information and tax fields to reflect your new defaults.
7.
Save changes.
You can continue to add additional Dealer Profiles by duplicating steps 3 through 7. After setting up multiple profiles when starting a new deal, you will be prompted to select the profile you wish to begin your deal with.
C. ASSIGNMENT
FEE FIELD (Lease
Information Screen)
Added to the Lease Information Screen and located in the middle column is an “ASSIGNMENT FEE” field (The default value is “AUTO”). You can now modify “AUTO”, the ASSIGNMENT FEE to any dollar amount.
WARNING: MODIFYING THE ASSIGNMENT FEE FIELD FROM THE DEFAULT VALUE “AUTO” REQUIRES ABSOLUTE KNOWLEDGE OF A LENDERS PROGRAM PARAMETER. PERFORMANCE LEASING SYSTEMS IS NOT RESPONSIBLE FOR ANY ERROR THAT OCCURS WHEN MODIFYING “AUTO” IN THE ASSIGNMENT FEE FIELD FROM THE DEFAULT VALUE.
D. SECURITY DEPOSIT FIELD (Fast
Quote & Lease Information Screen)
“STD” (Standard) is the default setting in the “SECURITY
DEPOSIT” field (default means the individual lenders parameters which may or
may not include a security deposit). If
a special program or condition changes a lender’s default security deposit LeaseScan will automatically make that adjustment.
By
entering “ONE PAY” in the Security Deposit field LeaseScan will automatically calculate your deal as a Single
Payment/One Pay calculation. To view
the total “One Pay” amount to be collected you will find this either on the A-B
Screen/ABC Screen or in the Security Deposit field in the Lease Information
after transferring your deal.
You can also charge multiple security deposits (certain lenders offer lower rates for multiple security deposits at lease inception) by entering the total number of security deposits to be collected as a number (example; 2, 3, 4, etc.) in the Security Deposit field. You can still use negative numbers as before if you wish.
For those lenders that allow you to zero out or waive the security deposit, by typing “ZERO” or entering “0” in the Security Deposit field, LeaseScan will automatically re-calculate this value and either increase the money factor, increase assignment fee or make any other necessary program changes to adjust for a zero security deposit. This function should not be confused with the “LOYALTY” setting in the Additional Lender Information Screen, which you can designate “Y” or “N” to waive the security deposit for customers that are leasing again with the same lender that has a security deposit waiver as part of a Loyalty program.
E. TOTAL CASH DUE FIELD (Fast
Quote Screen)
“STD” (Standard) is the default setting in the “TOTAL
CASH DUE” field. “STD” means
total fees due upfront at lease inception.
These fees will normally be first payment, security deposit/last payment
(unless Loyalty option is selected), Taxes on Down Payments, License Fees,
Title Fees, and Doc Fees. LeaseScan will automatically calculate the “STD” fees
due at lease inception.
You
can over-ride the “TOTAL CASH DUE” field by modifying your deal and
entering the total cash the customer is providing. As an example, if the customer wishes to put $3,000.00 total down,
part of which to be applied to fees due at lease inception simply put $3,000.00
in the “TOTAL CASH DUE” field. LeaseScan will then apply the appropriate lease inception fees
and use the balance as a cash down payment.
Situations arise where your customer has less than the required lease fees due at inception. By entering what the customer is able to pay into the “TOTAL CASH DUE” field LeaseScan will automatically increase the selling price. This will provide you the cash required to cover the fees required at lease inception while keeping you at the same profit level. If your customer wants to put no money toward the lease, you may type “ZERO” or enter “0” in the “TOTAL CASH DUE” field. In the Fast Quote LeaseScan will always maintain the profit on your deal as displayed in the Lease Profit column.
If you are giving cash back to your customer for trade equity, you can enter the “TOTAL CASH DUE” field as a negative number (example; -$3,000.00). LeaseScan will then calculate the required lease fees due at inception, adjust the deal to compensate for them, and provide your customer with the $3,000.00 back.
F. LEASING REBATE POPUP SCREEN (Fast Quote Screen)
LeaseScan now has the ability to apply rebates separately to manufacturer supported lenders and independent lenders. Independent lenders qualify for retail rebates or fleet incentives while generally manufacturer subvented lease programs do not allow you to use these rebates and incentives. In some cases, the manufacturer subvented lease programs include customer rebates (CCRA, RCL Cash, Lease Cash) in addition to the subvented rates and residuals. The Rebate Pop-up Screen in the Fast Quote (first pop-up screen in Fast Quote) allows you to compare all lender programs with the applicable rebates and incentive applied. To do this you enter the retail rebate or fleet incentive in the Leasing Rebate field of the screen and manufacturer supported leasing rebates (if any) in the Lease Cash fields of the screen. There are three Lease Cash fields that correspond to specific terms. You can change these terms to suit your situation.
Lets say, for example, you could use a $2000 retail rebate with independent lenders while the manufacturer support lender gets a $1000 lease rebate for 24 though 36 month term and $500 for 37 through 48 month terms. Also, say the retail rebate of $2000 applies to the manufacturer support lender when the term exceeds 48 months. You would enter 2000 in the Leasing Rebate field, 1000 in the first Lease Cash field, 500 in the second Lease Cash field, and 2000 again in the third Lease Cash field. LeaseScan knows which lenders are the manufacturer supported lenders (list available in Help function “LENDER.TXT”) and will apply the correct amounts to each lender in the Fast Quote. Unlike LeaseScan Version 5.0, you do not add the rebate amounts to the Total Cash Due field in the Fast Quote (Note: the Cash Down field no longer exists in the LeaseScan Version 6.0 Fast Quote). When you transfer the deal to the Lease Information Screen you will note that any rebates or incentives used in the Fast Quote will be transferred to the Leasing Rebate and Cash Down fields in the same manner as LeaseScan Version 5.0. Please note that the ability to apply rebates separately is only available in the Fast Quote.
G. “ROLL PROFIT” FUNCTION (Fast Quote and Lease Information Screens)
Added to the ROLL PROFIT FUNCTION is the ability to instantly maximize front-end profit by simply typing the word “MAX”. “MAX” will automatically calculate the maximum front-end selling price plus any over-advance permitted by each lender and indicate the total profit achieved in the Lease Profit column (the “-1” Function and “-2” Function is still available within this field).
H. “ROLL EXCESS” FUNCTION (Fast Quote and Lease Information Screens)
Added to the ROLL function sub menu is “EXCESS”. The “EXCESS” Function permits you to roll to a specific back-end dollar amount (Reserve) any time during your deal. After LeaseScan completes the specified dollar amount roll, the Lease Profit column will display both the front-end profit and the back-end profit as a total amount in white characters to highlight the total gross (front and back) now achieved. Additionally, you will see the Interest column now displaying the new total rate. It should be pointed out that not all lenders will roll the back-end profit to a specific amount because of the method they use to pay your excess rate profit (i.e., rolling “EXCESS” to $ 500.00 may actually compute a lesser dollar amount for a specific lender, lets say to $ 348.50 due to that lenders program parameters). You can also roll “EXCESS” to the maximum back-end profit by simply typing the word “MAX”.
NOTE: The above functions are unavailable in the Limited Access Security Level.
I. “ROLL TOTAL PAYMENT” FUNCTION (Fast Quote Screen)
A new feature in the ROLL TOTAL PAYMENT function sub menu is a sub menu that permits you to choose whether you arrive at the new payment by adjusting Lease Profit or Excess Rate Profit. When you select Excess Rate Profit the Lease Profit column will display both front-end profit and the back-end profit as a total amount in white characters to highlight the total gross achieved. This effectively allows you to not only rank the deal by the best Lease Profit but also by the best combination of Lease Profit and Excess Rate Profit enabling you to see which lender gives the best overall deal. This can be useful if you are at an agreed upon sale price with the customer and want to increase the payment using Excess Rate Profit.
NOTE: The above functions are unavailable in the Limited Access Security Level.
J. “EXCESS RATE” FUNCTION KEYS (Fast Quote Screen)
SHIFT F10 – Toggles the Lease Profit column between displays of front-end profit only (yellow Lease Profit field) and the combination of front-end profit and back-end profit (white Lease Profit field). Deal recalculates after keypress.
CTRL F10 – Toggles Interest column between sell rate (having excess rate profit included; yellow Interest field) and “buy” rate (without excess rate profit included; white Interest field). Deal recalculates after keypress.
NOTE: The above keys do not function in the Limited Access Security Level.
K. “DISC”
FUNCTION (Fast
Quote Screen and Lease Information Screen)
Added to the Function Bar is a Lease Disclosure Screen - “DISC” (Printable). The Disclosure Screen will provide; Capitalized Cost Calculation, Residual Value Calculation, Total
Monthly Payment Calculation, Initial Fees Due At Signing, and Fees and Taxes Due During The Lease. This printable page is helpful in providing the current deal information in worksheet form for transferring into your finance program. This screen is similar to the F9 screen in LeaseScan Version 5.0.
L. “LVB” FUNCTION (Fast Quote Screen)
The former FUNCTION “LEASE” (Lease vs. Buy Comparison) has now been renamed “LVB” on the Function Bar. It performs the same functions as before.
M. “HELP” FUNCTION (Fast Quote Screen and Lease
Information Screen)
The ‘HELP” Function provides a pop-up menu to allow you to select the UPDATE Screen (UPDATE.TXT shows what is on the latest update), QUICK START Screen (QUICK.TXT is a mini-guide to using LeaseScan), LENDER SUBVENTION Screen (LENDER.TXT lists which lenders are manufacturer supported by make), and FUNCTION KEY Description Screen (FUNCTION.TXT shows the actions of the function keys in LeaseScan). Pressing the ESC (Escape) Key exits these screens.
N. “PRINT” FUNCTION (Lease Information Screen)
The “PRINT” Function opens a sub menu allowing to select Bank Paperwork or Dealer Paperwork. This function operates identically to the Bank Paperwork and Dealer Paperwork functions on the Main Menu.
O. “SALE” FUNCTION (Lease Information Screen)
The “SALE” Function is the same as the “DLR” Function in LeaseScan Version 5.0. It is used to change the salesperson’s name or dealer’s name (assuming you have loaded these features into the Salesperson Names and/or the Dealer Information section in the Main Menu.
P. AUTOMATIC
PRINT LINE-UP (Bank
and Dealer Paperwork)
Since 1987, LeaseScan has supported multiple brands of printers. However, that support left us unable to use the automatic feed feature of most printers due the varying amounts of feed from printer to printer. This required you to line up the printhead of the printer with the first printable line on the form. LeaseScan Version 6.0 addresses this issue with our new Automatic Print Line-up feature. For this feature to work we need two measurements. One is the distance from the top of the form to the bottom of the first line that the printer would print after autofeeding. The next measurement was the distance from the top of the form to the first printable line on the form. Our goal was to make this feature available on all forms including ones we could no longer get. We designed it so that if we do not have a measurement for a particular form, or the printing moves relative to the page from one batch to another, you can input or change the measurement yourself. To activate this feature requires a ruler and a couple minutes of your time per printer. Once set up you should not have to ever change it. If you wish to continue lining up the forms as you have been with LeaseScan Version 5.0 and you not do the following LeaseScan will not activate the Automatic Print Line-up feature.
· Start LeaseScan using the System Administrator Access Level and go to Printer Control Codes.
· Insert a blank sheet of paper in your printer and let it autofeed.
· Use the “TEST” function of the menu to print a line on the blank sheet of paper.
· Measure the distance from the top of the paper to the printed line (try to be as exact as possible).
· Use the “MODIFY” function and enter your measurement into the “Distance TOF to 1st Line” field. You can enter the distance as the whole number, a plus sign and the fraction (1+17/32), as a fraction only (49/32) or as a decimal amount (1.53125)
· Now when you print a form you can drop the form in, let it autofeed into the printer, and after you hit enter on the “Printer is Ready” prompt you will get an addition function menu.
·
The menu options will be “Automatic”, “Manual”,
“Readjust”
· “Automatic” means the distance from the top of the form to the first printable line has been programmed and you can choose this option to automatically print the form.
· “Manual” means you wish to line up the printhead to the first printable line as in LeaseScan Version 5.0 and do not want to use the Automatic Print Line-up feature.
· “Readjust” allows you to enter or change a measurement for this particular form. You need to measure the distance from the top edge of the form to the uppermost line you need to print on (the same line you would line up to if you were using the old manual method). You can enter the distance as the whole number, a plus sign and the fraction (2+15/16), as a fraction only (47/16) or as a decimal amount (2.9375)
If you wish to manually line up the forms as you have with LeaseScan Version 5.0 you need to delete the “Distance TOF to 1st Line” field and LeaseScan will revert to the old method of lining up forms.
Changes made in LeaseScan were the result of input from our valued clients as well as our desire to produce the finest, fastest, and easiest leasing software solution available. We hope you agree with us that this is the best version of LeaseScan ever produced and enjoy the many new features. As always, if you have any questions concerning these or any features of LeaseScan Version 6.0, feel free to call us toll-free at (800) 748-6976.