This feature deals with an enhancement on the Vehicle Financing templates and the Financing Calculation block in the Offer.
The Vehicle Financing Templates have been enhanced with one new field: Payment Due At (PMT Type)
This fields is available in the Create/Edit form, is a drop down field and can take two possible values:
- Start of Period: 1
- End of Period: 0
The field value is also available in the relevant new column, in the grid list of Vehicle Financing Templates.
If the field is not specified - then nothing should be sent to the formula (null) and this is considered as 0 - End of Period
This field specifies when the payments are due:
- 0 or omitted - payments are due at the end of each period
- 1 - payments are due at the beginning of each period
In the financing calculation of the offer, the following fields and their calculation has be altered:
- Monthly Cost= PMT ((Annual Rate/12), Duration, -Amount of Refunding, Residual Amount, Type)
- Amount Of Refunding= Gross Total Price - Down Payment
- Interest Rate per Month (%)= RATE (Duration, (Monthly Cost + Bank Fee), (-Amount of Refunding + Service Amount), Residual Amount, Type)
- Effective Credit Cost= Payment * Duration - Amount of Refunding + Residual Amount
The rest of the fields included in the form, have retained the same algorithm calculations.
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