This article is for DeskManager 11. For DeskManager Online see How to Create Deals.
This article will walk you through creating a new retail deal. A retail deal can either be financed in-house (buy here, pay here) or by a third party finance company.
Note: You can save a deal at any time by clicking the Save button in the top left of the window. There are many different statuses to save a vehicle into.
After starting a new deal make sure the sale date is correct. If you need to change it, click the drop menu to the right of the sale date then select the correct date.
Next fill out the cash price, fees, and other charges. The fees and charges do differ by location. The example here is for a California DeskManager. If you have questions on what fees to charge, please contact your local independent dealers association.
Some states/provinces do not have enough space for all the necessary fees, so you may need to click the box to the right of the Other Fees field.
If you are charging for any accessories, click the box to the right of the Accessories field. From there click New to add an accessory and fill out the appropriate information.
If you have sold a service contract, click the box to the right of Service Contract. It is a good idea to have pre-defined warranty providers and pre-defined warranty plans set up before adding a service contract to a deal.
From there select the provider and plan. If your warranty plans do not have a provider associated you will just need to select the plan.
If you need to adjust the specifics you can do so now. The box to the right of Price will allow you to adjust your cost.
Click Save & Exit when you are done.
If you have sold GAP insurance enter the amount you are charging your customer. When you click/tab away from the GAP field DeskManager will ask what your cost was for the GAP.
Click the drop menu in the Gap Paid To field to select a GAP provider or enter a new one.
If you are selling Credit Life, Credit Disability, Property or Vehicle insurance to your customer, click the button to the right of the Insurance field to fill out a Statement of Insurance. The premium values entered here will be totaled into the Insurance field when you exit the Statement of Insurance window.
If there is a down payment, enter that in the Cash Down field.
If you would like the system to calculate the down payment based on a certain percentage of the cash price, click the button to the right of the Cash Down field.
DeskManager allows you to enter up to six deferred payments. To enter those deferred payments click the box to the right of the Total Deferred field. Be aware that you cannot set any deferred payments beyond the customer’s second periodic payment.
If the customer is trading in a vehicle, you can enter the amount you’re accepting for that trade in as well as the payoff amount for that trade in. When you click away from the Total Trade-In you will be prompted for the actual cash value of the trade.
If there is a payoff balance, click the drop menu for Balance Paid To to fill out the customer’s lender information.
If there is a manufacturer’s rebate enter that in the MFR Rebate field.
Next choose the number of payments, the payment frequency, and the first payment due date. If you would like the system to calculate the first payment due date, click the drop menu to the right of the date.
Now choose the calculation method (APR or add-on interest) and fill out the APR or Add-On Rate (depending on whether you choose APR or add-on, respectively).
Finally choose the finance method and enter a prepaid finance charge (if applicable).
The bottom section of the deal will show the periodic payment amount. You can round the final payment to equal the rest of the periodic payments by checking the Round checkbox. The rollback tool will allow you to enter adjust the terms of the deal to give the customer a specific payment amount.
Once you have the terms of the deal set to your liking, click the Customer tab and fill out the customer’s information.
If there is a co-buyer click the Co-Buyer tab and fill in their info. Be sure to note who the vehicle will be registered to on the Co-Buyer tab.
If there are trade ins for your deal, click the Trades tab and fill out the information regarding the vehicle(s). DeskManager will allow you to take in up to two trade ins on a deal.
After you save the deal you can add the trade to inventory.
You’re now ready to enter the lender information. Click the Financing tab then use the Financed By drop menu to select a pre-existing finance company or add a new one.
If you are financing the deal you can check Financed In-House, however it will be checked automatically when you save the deal as a Buy Here, Pay Here.
If the lender is charging you a lower rate than the customer, you can enter that rate into Buy Rate. The difference between the two rates will be calculated into the Settlement field.
If the finance company is holding onto some of the Settlement, that will be the Reserve. You can either enter a percentage to let the system calculate the amount reserved, or you can enter an amount in the Reserve Amount field.
You can enter the date you expect to receive that reserve as well as the date you actually received the reserve below the reserve amount.
If the finance company is charging any additional fees you can enter them in Additional Fees 1 or Additional Fees 2, along with a description of those fees.
If the finance company is financing the deal at a discount, you can enter a Discount Rate or a Discount Amount.
Now you’re ready to save, which you can do by clicking the Save button.
When you click the Save button you will first want to enter the outgoing vehicle information. This information includes date delivered, mileage/kilometers out, location, title number, temporary tag number, temporary tag issued/expiration dates, and a callback date.
Next choose the proper deal status, next payment due date calculation method, and how you want the late fees/adjustments to apply to the account.
When you’re done click Save. If the Sale Date is different from the current date, you will need to confirm that you want to continue. After you save the deal as sold you will likely want to calculate commission or collect payments.