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            Streamline Vehicle and Asset Lending

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            Streamline Vehicle and Asset Lending

            Use the Vehicle & Asset Lending Console to get a comprehensive view of all loan and lease applications, applicant information, and related records for vehicles or assets. Financial managers can track the employment, income, credit score, and personal information about applicants. Track liabilities, assets, and Know Your Customer identity records used for screening and verification, and documents uploaded by the applicants all from the console. Underwriters can also use the console to analyze key metrics related to an application, create proposals, and assign action items for an application. Agents can use the Agent Assisted Application Management app to submit applications on behalf of customers. Customers and dealers can use the Experience Cloud site to apply for loans and leases, track their statuses, and accept or reject the proposals shared by the underwriters for review. Use the Funding Workbench Console to facilitate the end-to-end disbursement process.

            Required Editions

            Available in: Enterprise, Unlimited, and Developer Editions.
            • Set Up Vehicle and Asset Lending for Automotive Cloud
              Set up and configure features for Vehicle and Asset Lending for a captive finance or a banking organization. Set up product catalogs, pricing procedures, disclosures and consent, stage management, compliant data sharing, qualification rules, and document intake. Set up additional features that support vehicle loans and leases, right from intake to decisioning. Help underwriters, financial managers, customers, agents, and dealers manage and track applications and proposals. The vehicle lending processes are built on top of the Digital Lending platform that supports the end-to-end lending lifecycle across all retail loan products and channels in a unified lending platform.
            • Submit and Track Vehicle Loan and Lease Applications
              Submit applications for vehicle leases and loans as a customer, or as an agent on behalf of the customer. Customers can use the Experience Cloud site to submit applications using a self-service guided flow, and track the submitted applications. Agents can use the Agent Assisted Application Management app to submit applications on behalf of clients using the same guided flow.
            • Assess and Analyze Vehicle Loans and Leases
              Use the Vehicle & Asset Lending app in Automitive Cloud as an underwriter to assess and analyze the applications submitted by customers or by agents on behalf of customers. Underwriters can configure stipulations, gather insights about the applicant, analyze the applicant profile and credit history, and create proposals. After negotiations and review, the underwriters can share the final proposals with dealers for acceptance or rejection.
            • Review and Close Vehicle Loan and Lease Proposals
              Dealers can use the Experience Cloud site to review and track vehicle loan and lease applications after the intake process, modify and negotiate terms during the decisioning process, and finally accept or reject proposals after the underwriter shares the final proposal with them. Dealers can efficiently rehash applications by either modifying the vehicle or the financial terms to come up with better loan or lease proposals. Dealers can use the Work Guide on an Application Form Product record page on the Experience Cloud site to then accept or reject the final proposal with just one click.
            • Work with the Funding Workbench Console
              When a customer has accepted a loan or lease proposal and the dealer has provided final approval, use the Funding Workbench to facilitate the end-to-end disbursement process by seamlessly managing document uploads and verification.
             
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