We met with a Mercedes Benz dealer a few months ago and I was surprised to hear that they sell most of their new cars based on the payment, not the price of the vehicle.
So based on that we built a tool that allows dealers to input:
- Loan rate as a percentage
- Down-payment as a percentage
- Length of the loan
- DOC fee
The system allows to input separate rates for new, used, and CPO.
As you can see in the screenshot we added the monthly payment to the VDP (in this case calculated from the vehicle’s MSRP) but we can also add it to the SRP and we can send it in the feeds to our CraigsList tool for the ads.
The system ads the disclaimer to all the vehicles which is also modifiable by the dealer.
With this tool you also have another level of price customization; for example we can have the MSRP in the system, calculate the payment, but don’t display the MSRP (just show the payment).
In order to use this tool you must use Autobase as your data provider (calculations are done in the Autobase server) and DealerLab for websites (all the mapping so far has been done to our systems), and Autoclassified Solutions for the CraigsList postings.
The tool is free to our clients.