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            Catalogs and Products for Vehicle and Asset Lending

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            Catalogs and Products for Vehicle and Asset Lending

            Loans and leases offered as financing options for vehicles or for assets such as car batteries are modeled as products in Automotive Cloud. Set up catalogs, categories, products, and attributes to design your financial product portfolio.

            Required Editions

            Available in: Enterprise, Unlimited, and Developer Editions.
            • Configure Product Attributes for Vehicle and Asset Lending
              Create attributes for your financial products to specify the maximum and minimum amount for a loan or lease, the validity of the offer, and the duration of a loan or lease. When customers and agents apply for a loan or lease, these attributes are displayed as options for selection and are also used to calculate the offers. Additionally, create a product attribute to specify the Omniscript name that’s used by the application to launch a guided flow during the application intake process for agents and customers.
            • Create Attribute Picklists for Vehicle and Asset Lending
              Create an attribute picklist and its related values for product attributes of data type Picklist. For example, loan term or lease term is a picklist-type attribute with possible values of 12 months, 24 months, or 48 months. The attribute values you specify are displayed as options to a customer or an agent and also used to calculate the offers during the application intake process.
            • Create Product Classifications for Vehicle and Asset Lending
              Create product classifications for the different types of financial products that you offer for sale to your customers. When you relate specific attributes to a product classification, you can differentiate products at a granular level. For example, create a product classification for all loan type products and relate attributes such as loan term, maximum loan amount, and minimum loan amount. For each attribute, you can also specify a default value. All products that you create based on a classification automatically inherit the attributes.
            • Create Catalogs and Categories for Vehicle and Asset Lending
              Create a product catalog and its related categories to categorize financial products in Automotive Cloud. For example, a banking institution can create a catalog to group all financial products. Users can further classify the suite of products with categories such as home loans, vehicle loans, and personal loans.
            • Create Financial Products for Vehicle and Asset Lending
              Model loans and leases for vehicles and assets as products in Automotive Cloud. You can create separate products for vehicle loans, vehicle leases, accessory loans, and accessory leases. When customers apply for a loan or lease, they select a financial product that you’ve set up.
            • Assign Products to Categories for Vehicle and Asset Lending
              Add your financial products such as vehicle loans and leases to a category. The category helps differentiate your financial products from other products in your portfolio.
             
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