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Once you have established your Dealers, its time to move on to the Dealers’ inventory, their Units/Vehicles. Each unit must be fully tracked, insuring that you are completely protected. You want to know where that unit is, what condition it is in, what it is worth and how long it has been on the floor plan.
With the FloorTrax system, you monitor the status of each unit from purchase through curtailment and payoff. You track critical documents(user defined), due dates and receipt dates. If any item is turned in late, automatic late fees can be assessed and faxed/emailed daily.
Interest billings or Flat Finance Fees are generated monthly for each dealer and each Unit. Each Unit is billed for the number of days it was on the plan and for the value each day, taking curtailments into account.
Units are audited and any discrepancy or Not Seen / Not Sold status is recorded, triggering the proper documents to be faxed/emailed to the the dealer. Dealers receive daily notices by fax or e-mail of all items due. Late fees are automatically charged accordingly.
Critical Documents may be Imaged, Bar Coded and referenced in the system. The simple click of a button will let you view the contents of a document.
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