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            Extend the Pricing Procedure for Vehicle and Asset Lending with Adjustments

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            Extend the Pricing Procedure for Vehicle and Asset Lending with Adjustments

            Calculate offers for vehicle loans and leases based on interest rates that are dynamically adjusted based on the credit score of the applicant and the repayment term selected by the applicant. For example, the interest rate for a vehicle loan is adjusted to a lower percentage when the credit score of the applicant is higher than 750 and the repayment term is 36 months.

            Required Editions

            Available in: Enterprise, Unlimited, and Developer Editions.
            User Permissions Needed
            To extend an pricing procedure: Salesforce Pricing Design Time permission set

            The steps here outline how to create product list rate adjustments in Digital Lending for all types of financial products such as home loans, personal loans, and student loans. You can follow the same steps to configure the adjustments for automotive financial products.

            1. Add product list rates.
            2. Create a custom object to store the interest rates based on a credit score threshold.
            3. Create a custom object to store the interest rates based on a product’s repayment term duration.
            4. Create a decision table that uses the product and credit score threshold values as input and provides the interest type and interest rate as output values.
            5. Create a decision table that uses the product and term values as input and provides the interest type and interest rate as output values.
            6. Update the price recipe to include the decision tables.
            7. Add the price adjustment matrix element to the pricing procedure and use the credit score-based adjustment decision table to recalculate the interest.
            8. Add the price adjustment matrix element to the pricing procedure and use the term-based adjustment decision table to recalculate the interest.
             
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