2.65.3 - Finance Calculation: Vehicle and Offer/Order

General Description of the Feature

This feature deals with an enhancement and redesign of the Vehicle Financing Calculation and the Financing / Down Payment sections within the retail sales Offer. It uses the already existing functionality of the "Vehicle Financing Calculator" within the Vehicle Inventory, enhances it and uses the same logic within the Financing section of the retail sales Offer page.

For more information of how the Vehicle Financing Templates used to work, read here: Vehicle Printouts

Vehicle Financing Templates administration

The "Vehicle Financing Templates" page includes all the financing templates created from admin users and can be used during the financing calculation. The creation pop-up and the grid list have been enhanced to support a list of new fields along with the existing ones:

The fields marked with green are new fields and the fields marked with yellow are existing fields that either are renamed or repurposed.

Financing Calculation - Vehicle entity

In the Vehicle Inventory, the users are able to prepare a fast Financing Calculation and print it for a customer without the need to create a Lead and an Offer. This can be done either from the row actions of a vehicle in the vehicle grid list or from the Action button within the vehicle card page and the action called "Print using Finance Calculator".

When doing so, the "Vehicle Financing Template" pop-up will open. This pop-up is split in 3 areas:

• The User input fields, which consist of the fields:
  • Payment
  • Duration

  • Monthly payment

• The templates and user selection area, which consist of a drop-down with the available templates to choose from. The available values in this field and their order is calculated from the system.
  • The availability is based on the Vehicle Status, since financing templates can exist either for New or for Used vehicles.
  • The order is calculated based on the user input in the previous 3 fields. 
• The finance calculation area.

  • All the fields in this area are pre-filled and are read-only based on the selected template from the above area.

    Field Name	Field Data	Info
    Gross Total Price	Decimal	Equal with "Gross Basic Price" if opened from vehicle Inventory OR with total "Offer Price" if opened from Offer page
    Trade In	Decimal	Equal with 0.00 amount if opened from vehicle Inventory OR with trade-In "Final Price with Benefit" if opened from Offer
    Down Payment	Decimal	Equal with: Gross Total Price * Down Payment (%) from the selected template
    Residual Amount	Decimal	Equal with: Gross Total Price * Residual Rate (%) from the selected template
    Duration (months)	Integer	Equal with the field "Duration" from the selected template
    Annual Rate (%)	Decimal	Equal with the field "Annual Rate (%)" from the selected template
    Payment	Decimal	Equal with the PMT calculation. For more info check section "PMT calculation" section below
    Total	Decimal	Equal with: (Payment * Duration) + Down Payment + Residual Amount
    Amount Of Refunding	Decimal	Equal with: Gross Total Price - Down Payment - Residual Amount
    Number of payments	Decimal	Equal with the field "Duration"
    Max Mileage	Decimal	Equal with the field "Max Mileage" from the selected template
    Quota Type	String	Equal with the field "Quota Type" from the selected template
    Service Amount	Decimal	Equal with the field "Service Amount" from the selected template

  • An exception are the StartDate field, which is a user input and the EndDate field which is calculated based on the "Start Date" and the "Duration (months)" value.

The template ordering calculation is based on the following:

• On the top of the drop down the system proposes the templates that have equal values compared to the user input:
  • "Down Payment (%)" field form the template = "Payment" field from the user input 
  • "Duration" field form the template = "Duration" field from the user input 
  • PMT calculation using various fields from the template (for more info check section "PMT calculation") = "Monthly payment" field from the user input 
• Below the system displays the templates that have 20% off in the calculations when compared to the user input.
• Finally the rest of the templates are following and might have either a bigger percentage on value compare or not match at all.

After the above preparation, the user is able to select "Print" and as the existing functionality used to do, print a document based on designed template, including all these info.

The Financing Calculation prepared this way is stored, saved or displayed in any other page of the system and is temporary.

Financing Calculation - Retail sales Offer

Finance

The Finance section of the Offer page has been enhanced to include the above described process. When clicking the plus button to add a financing into the Offer, the user will be presented with the "Vehicle Financing Template" pop-up which will be exactly the same as mentioned in section above.

The user can give his input, if need it and the system will short properly the given templates. Upon selection the system will calculate and automatically fill the rest of the fields.

On "Next" the "Add Finance" pop-up will open including all the financing fields and amount prefilled based on the previous calculation. Here the fields are not read-only anymore and the user can make changes before adding the prepared finance into the Offer.

On "Save" the finance is transferred into the offer and displayed under the Finance section. Each finance row has two possible row actions:

• Delete: Which is deleting completely the selected finance line
• Edit: Which reopens the "Add Finance" pop-up of the selected finance line and the user can make changes before saving again 

Payment

The Payment section of the Offer page has been renamed  from Down Payment to Payment and has been enhanced to automatically fill the "Offer Total Amount" & "Remain Amount" based on the prepared Offer. The fields included in the pop-up are the same as before and more information can be found in the documentation of the relevant functionality: 2.51-4. Down Payment (DSW & ODIL)

In addition, the field "Deposit Date" has been renamed to "Payment Date" and a Description field has been added.

On "Save" the payment is transferred into the offer and displayed under the Payment section. Each payment row has two possible row actions:

• Delete: Which is deleting completely the selected payment line
• Edit: Which reopens the "Add Payment" pop-up of the selected payment line and the user can make changes before saving again

Offer

On Offer creation and save of the relevant transition, a temporary copy of the finances and payments prepared are saved in the DB. These will be stored permanently only if this Offer becomes an Order.

In Addition, the Finance and Payment information can be printed in the relevant Offer document, if the printing parameters, representing these values, are included in the template.

Finalized Financing - Retail sales Order

During the Order creation (external function: Create Order document), if the selected Offer includes a Finance and/or a Payment, these values will be finalized and be saved to the relevant db table as final for the Business Partner and the Vehicle. 

A new tab has been created in the Business Partner and the Vehicle card pages, called "Contracts". Final Financing and Payments will be included and can be found in the tab.

Interest Type

The relevant values in the "Contracts" tab of the Business Partner card page are related with the Interest Type of the VOI. In the case where the Interest Type of the VOI is an

• Inventory vehicle, will include a vehicle redirection link in the column "Vehicle".
• Vehicle from Configurator, the column "Vehicle" will remain empty until an inventory vehicle code is assigned to the relevant leads, related with these entries.

Cancel Order 

If an Order is being cancelled, using the external function "ODP_CancelRetailSalesOrder: Cancel RetailSales Order", then the related with the Order and thus the Offer, Financing and Payments will be deleted as well.

PMT calculation

The Payment or Monthly Payment is calculated in the "Vehicle Financing Template" pop-up based on the following mathematical equations:

x = Gross Total Price
ir = (Annual Percentage Rate/100) / 12
np = Duration
pv = x - ((Down Payment/100)* x)
fv = ((Residual Rate/100) * x)*-1

Case 1: ir = 0
pmt = -(pv+fv)/np

Case 2: ir != 0
y = (ir +1)^np
pmt = -ir* (pv* (y+fv) /y) - 1

*pmt = Payment or Monthly Payment

Business Benefit

Provide to the users a more detailed way to calculate customer Financing within the Offer page, in the Vehicle entity and store these to the Vehicle and BP for faster access.

Configuration 

Business Cases:

Show/Hide the tab Contracts within the Business Partner card page

• 13011 - BP Financing Contracts Tab

Administration and Process pages:

• Existing administration page for the Financing Templates preparation: ~/Inventory/VehicleFinancingTemplatesGridList

Setup Keys:

Printing:

New parameters enhancing the existing printing model of the Workflow Document Templates:

• For the “Payments” section at the offer sheet:
  • {DocumentDownPayments.Description}
• For the “Finance” section at the offer sheet, we have added the following:
  • {Header.Financing.DefaultAnnualInterestRate}
  • {Header.Financing.StartDate}
  • {Header.Financing.EndDate}
  • {Header.Financing.MaxMileage}
  • {Header.Financing.ServiceAmount}
  • {Header.Financing.QuotaType}
  • {Header.Financing.FinancingType
  • {Header.Financing.TemplateDescription

New parameters enhancing the existing printing model of the Vehicle Printouts - Financing Print Template:

• {MaxMileage}
• {ServiceAmount}
• {QuotaType}
• {QuotaTypeName}
• {TradeIn}
• {StartDate}
• {EndDate}
• {NumberOfPayments}

Additional Information

• Feature No.:  ODP-4018 - Getting issue details... STATUS
• Test Case No.:  ODP-4798 - Getting issue details... STATUS