HOUSTON--April 9, 2013: Auto Financial Group (AFG), an online provider of residual-based financing products for lenders since 1999, announced today that it has enhanced its DrivingSense balloon loan program with a new feature called the Dealer Inventory Download (DID). DID provides lenders and dealers a comprehensive and more efficient way to utilize the DrivingSense program.
“Dealerships no longer need to input individual vehicles to see how payments are affected. DID makes it possible to move more inventory and close more balloon deals, making the balloon option incredibly convenient”
Prior to the introduction of DID, the DrivingSense CarBuilder calculator program required a step-by-step car building process that calculated the balloon payment, the standard retail payment and the guaranteed future "residual" value on a vehicle-by-vehicle basis. Recognizing the need for speed in today's world, DID takes the DrivingSense program to a whole new level by eliminating multiple steps previously required and adding valuable information essential to the sales process.
"We are excited to introduce the DID online calculator enhancement to our clients," said Richard Epley, CEO of Auto Financial Group. "DID will provide a streamlined, convenient solution for DrivingSense and an instant view of which vehicles work best with the program."
Key enhancements now available through DID technology include:
- Downloads dealer's inventory details direct from the DMS (Dealership Management System) into the AFG calculator (DMS download includes the stock number, year, make, model, inventory value, mileage and any optional equipment that impacts the residual)
- Calculates an index score on each vehicle based on the dealer selling price and the residual value for each loan term
- Allows dealers to quickly sort inventory by index score and easily scan to see which vehicle has the best balloon payment option (the higher the index value, the better the opportunity)
- Gives dealers current knowledge of which vehicles are trending well with the AFG program, establishing more credibility and opportunity for their dealership
- One click upload to the CarBuilder calculator to book the deal
"Dealerships no longer need to input individual vehicles to see how payments are affected. DID makes it possible to move more inventory and close more balloon deals, making the balloon option incredibly convenient," said Epley. "The overall purpose of the program's enhancement is to increase dealer and lender productivity and profitability."