DealerTrack DMS - Push Lienholder Information
gathering votes
D
Devin Inman
Would like the ability to push lienholder info over to dealertrack dms and store those lienholders in order to accurately determine the reserve.
Drew Adler
gathering votes
D
Devin Inman
Other CRM's I have used in the past it had a lienholder section to where there was a code or number that corresponded with the dms. We would be able to select the lienholder from a drop down and it would be able to calculate the correct reserve in the deal. The dealer would set up the rules on calculating the reserve inside the CRM for example this lender may pay a 5% flat to where you would put that in the buy rate section and it would automatically multiple the amount financed by 5% or if it were an 80/20,75/25 etc... you would put the buy rate in mark up the rate whatever the lender allowed and it would take the difference in what the finance charge was at buy rate and the finance charge with the 2 points and multiple that by the larger number and that is what the dealer reserve would be. Currently we have to go into the dms and add the lienholder manually which isn't a big deal we just have no idea what the reserve is on the pencil
Shelby Parker
Thank you for posting, Devin Inman! I have a few more questions for you:
- Can you provide more details on how you currently manage lienholder information?
- What specific lienholder information do you want to push over to Dealertrack DMS?
- How do you envision the process of storing and accessing lienholder information for reserve determination?