For a Video Tutorial on this Topic, see New Deal Training Video Series.


Overview

A deal traverses through several states in CareGARDWarranty.com (CGW). The main states of a deal are: 

  • New. A new deal is a brand new F&I product deal that you create in CGW for your customer. 
  • Pending. A new deal becomes a pending deal (is saved in CGW) when you fill out all required information and click Continue or Save as Pending Deal.
  • Recent/Unpaid (Delivered). A deal becomes recent/unpaid (or delivered) deal when you print and deliver the paperwork to the customer by:
    • Clicking Print for Delivery in the Products dialog. For more information, see the "Using Quick Quote" section later in this tutorial.
    • Clicking Continue in the Deal Details dialog. For more information, see the "Selecting Products and Options" section later in this tutorial.
  • Finalized. A deal is not finalized until you finalize it using the Recent/Unpaid Deals dialog.

Using this tutorial, you will learn how to:

  • Start a new deal
  • Use the Quick Quote feature
  • Select F&I products and options

Starting a New Deal

1. After logging into CGW, you can start a new deal in one of two ways:

  •  Select Deals > New Deal from the left navigation menu.
  • Select the New Deal quick button at the top of the Dashboard.

Starting a New Deal

2. In the Start a New Deal dialog, you will begin the process of creating a new deal:


Item
 Description
Deal #
 Enter the deal number. This is the number the dealership uses to track the deal internally.
Sales Type
 Select the sales type. Your choices are Consumer or Commercial.
Manual Entry
 If you are unable to pull in information from the DMS, click this button to manually enter Vehicle, Customer, and Deal information in the New Deal Entry dialog.
Submit
 If you are pulling DMS information, click this button to run the DMS pull. If successful, the New Deal Entry dialog will be populated with Vehicle, Customer, and Deal information.


Start a New Deal Dialog


3. The New Deal Entry dialog contains three panels:


Item
 Description
The Vehicle
 Allows you to enter details relating to the vehicle
The Customer
 Allows you to enter details relating to the customer
The Deal
 Allows you to enter details relating to the deal


Note: Using the Pull DMS button in the top-right corner of the New Deal Entry dialog, you can pull in information from a Dealer Management System (DMS) if your dealership uses one. For the purposes of this tutorial, we will enter information manually instead. 

The Vehicle

In this panel, you enter details about the vehicle that is part of your deal. Not all fields are required in this panel, but you will have to enter all of the information before finalizing the deal. We recommend taking the time to fill everything out at this time.


Item
 Description
 Required
Producer
 This is you. Your administrator should have set you up in the system as a producer.
 No
Vehicle Purchase
 The date of vehicle purchase
 No
In-Service
 The date when the original car warranty started on the vehicle when it was first purchased as a new vehicle
 No
VIN
 The Vehicle Identification Number
 Yes
Mileage
 The vehicle’s mileage
 Yes
Sales Type
 Select the sales type. Your choices are:

· Consumer

· Commercial

 No
Vehicle Type
 Select the vehicle type. Your choices are:

· New

· Used

 No
Deal Type
 Select the deal type. Your choices are:

· Purchase

· Lease

· Product Only

 No

The Vehicle
 

Note: For more information on the Quick Quote button, see “Using Quick Quote”.


The Customer

In this panel, you enter customer-related details. Not all fields are required in this panel, but you will have to enter all of the information before finalizing the deal. We recommend taking the time to fill everything out at this time.


Item
 Description
 Required
First Name
 Customer first name
 Yes
Last Name
 Customer last name
 Yes
Email
 Customer email address
 No
Daytime Phone
 Customer daytime phone number
 No
Evening Phone
 Customer evening phone number
 No
Cell Phone
 Customer cell phone number
 No
Address and

Address 2

 Customer street or mailing address
 Yes
City
 Customer city
 Yes
State
 Customer state
 Yes
Zip
 Customer zip code
 Yes
County
 Customer county of residence
 No
Add Co-Buyer
 Select this to add a co-buyer for this vehicle
 No


The Customer

The Deal

In this panel, you enter details about the deal. Not all fields are required in this panel, but you will have to enter all of the information before finalizing the deal. We recommend taking the time to fill everything out at this time.


Item
 Description
 Required
Deal #
 The number your dealership uses to track this deal
 No
Stock #
 The number your dealership uses to track this vehicle
 No
MSRP
 Manufacturer’s Suggested Retail Price
 No
Fixed Reserves
 The fee that the lender pays to the dealer. A fixed reserve is a straight dollar amount fee. An example would be that the lender pays the dealer $500 for every loan the dealer does with them.
 No
Salesperson
 Salesperson making the deal
 No
Sales Manager
 Sales manager in charge of the deal
 No
Contract Purchased
 Date of the sales contract
 No
Sales Price
 Sales price of the vehicle
 Yes
Net Price
 Price of vehicle before taxes and fees
 No
Rebates
 Amount of sales rebates
 No
Tax/Title/Lic
 Amount of tax, title, and license on vehicle
 No
Lender
 Select a lender for this deal or click   to add a new lender. If the customer is paying cash for the vehicle, select the None (Cash) option in this menu. For more information, see the next section, “Adding a Lender ”.
 Yes
Down Payment
 Amount the customer is paying today on the vehicle
 No
Doc Fees
 Amount of dealership fees added to the purchase price
 No
Net Trade (1)

Net Trade (2)

 Amount of the customer’s trade-in vehicle. Two fields are provided in case the customer trades in two vehicles.
 No
Other
 Miscellaneous charges
 No
Total
 This is auto-populated based on previous entries.
 N/A
Term
 The financing term in months. For example, 60 months for a five-year financing period. Two fields are provided in case there are two loans on this deal.
 Yes
APR
 Annual Percentage Rate. Two fields are provided in case there are two loans on this deal.
 No
Buy
 The Buy Rate. This is the interest rate the lender charges the dealer for a loan. The dealer can then sell the loan to the customer for the same or a higher rate. This rate is called the Contract Rate. The lender pays the dealer a fee based on the difference of the two rates.

For example, the lenders buy rate to the dealer is 10%. The dealer then charges the customer 12% (the Contract Rate) for the loan. When the loan is funded to the dealer the lender will pay an additional fee amount based on the 2%.

Two fields are provided in case there are two loans on this deal.

 No

Note: When you have entered all information, click continue to move to the “Selecting Products and Options” section of this tutorial to select F&I products and options for your deal. Continue saves your previous entries and places the deal in the Pending Deal list in the left navigation menu until you finalize it. For more information, see “Working with Pending Deals”.

Adding a Lender

In the New Deal panel of the New Deal Entry dialog, you can click   to add a new lender. The Add New Lender dialog appears, where you will set up a new lender in CGW:


Item
 Description
Lender Name
 Enter the lender’s legal name.
Lender Address
 Enter the lender’s street address.
City
 Enter the lender’s city.
State
 Select the lender’s state.
Zip
 Enter the lender’s zip code.
Phone
 Enter the lender’s primary phone number.
DMS Lender Code
 Enter the lender’s Dealer Management Solutions (DMS) lender code.
Lender Affiliation
 Select the lender’s affiliation. Some lenders have specific contracting and/or form requirements. If you see the lender’s affiliation in this drop-down list, select it. If you do not see it, select None.
Finance Reserve % (PCT)
 Enter the finance reserve percentage. This is the fee that the lender pays to the dealer for every deal.
Finance Reserve Method
 Select a no chargeback reserve calculation method. Usually, a lender will pay the dealer 70% of the difference between the interest charged at the buy rate and the interest charged when calculating the loan using the sell rate.

· Method 1: Use the buy and sell rates

· Method 2: Use buy and sell finance charges
Cancel
 Click this button to cancel your entry altogether.
Save
 Click this button to save the new lender in CGW.

Add New Lender Dialog

Using Quick Quote

If you are in a hurry trying to provide your customer with a quote for available F&I products and options, you can use the Quick Quote feature located in the Vehicle panel of the New Deal Entry dialog. This feature allows you to share product options and prices with your customer without entering all of the customer, vehicle, and deal information in CGW. It is essentially a shortcut for sharing product information with the customer.

To use the Quick Quote feature, click Quick Quote in the Customer panel of the New Deal Entry dialog. This opens the Products dialog, which contains two new panels. The Customer, Vehicle, and Deal panels are carried over from the previous dialog for your reference only. You will see this in other CGW dialogs as well. 

The Products dialog contains two new panels:

  •  Loan and Deal Variable Information: This panel contains loan and financing details that you can share with your customer.
  •  Selected Products: This panel contains various F&I products available to your customer for this deal.

Loan and Deal Variable Information

In this panel, you allow your customer to make selections relating to the loan and deal.


Item
 Description
Lender
 Select a lender for this deal or click   to add a new lender. If the customer is paying cash for the vehicle, select the None (Cash) menu option.
Reserve Type
 The loan reserve type for this deal. A reserve type is a fee that the lender pays to the dealer.  

Click Change to select between two options:

Fixed: A straight dollar amount fee. An example would be that the lender pays the dealer $500 for every loan the dealer does with them. If you select this option, enter the fixed-rate reserve amount in the Reserve Amount field.

Variable: A percentage-based fee. The percentage is also known as the Buy Rate.
Term 1

Term 2

 Vehicle finance term options. You may have more than one loan type to present to your customer. Select the term based on the customer’s wishes.
APR 1

APR 2

 Vehicle finance APR options. You may have more than one loan type to present to your customer. Select the term based on the customer’s wishes.

 
First Payment Date
 Date of first payment on the loan
Down Payment
 Amount of the customer’s down payment for the vehicle
Other Charges
 Any other miscellaneous dealership charges for the purchase of the vehicle
Rebate
 Manufacturer rebate amount
Recalculate
 Select this button to recalculate total costs if you make any changes.

Loan and Deal Variable Information

Selected Products

In this panel, you allow your customer to select F&I products for the vehicle.


Item
 Description
Product

This column lists the various F&I products available to your customer for purchase. The list is based on F&I product options added to the system by your administrator. For a description of all CGW F&I products, see http://www.caregardservices.com.
Y/N
 Select the check box next to each product your customer wishes to purchase.
Cost
 The associated cost for each product
Coverage
 A description of the coverage for each product
Term
 The length of coverage for each product
Edit
 Select this to open a dialog where you can edit F&I product items. Depending on the F&I product you select, this dialog will vary. This dialog is for the KeyGARD product:

· Keys: Select the primary or secondary key under warranty.

· Term: Select from a list of predefined term options.

· Use System Generated Contract Number: Assigns a system-generated contract number to the selected F&I product.

· Use this Contract Number: Allows you to manually enter a contract number based on the F&I product form.
Paylink
 This generates a Paylink contract. Sometimes lenders will not lend enough money to a customer to cover the vehicle in addition to a VSC. In order to sell the VSC to a customer, the dealer must use an alternative financing source. By selecting this option, the amount of the VSC is removed from the lender Amount Financed. In addition, the product amount in the Loan 1 and Loan 2column(s) will be reduced by the monthly cost of the VSC. The customer will have two loans, one for the vehicle through the lender and one for the VSC through Paylink.


Selected Products

Other Quick Quote Buttons

The Products dialog also contains four important buttons:


Item
 Description
SDC

 

 The SDC (Show Dealer Costs) button is located in the top-right corner of the Products dialog. If you select this, additional columns are displayed in the Select Product dialog:

Note: Avoid showing your customer this information, which includes dealer vs. customer costs for F&I products.
Save as Pending
 This option takes you to the Pending Deals dialog. If you did not enter all required customer, vehicle, and deal information, you will be prompted to do so along the way. For more information on using the Pending Deals dialog, see “Working with Pending Deals”.
Change Vehicle Mileage
 This takes you to a dialog where you can change the vehicle’s mileage.

 
Continue

 

 This saves the information you have entered so far and walks you through the process of printing the deal paperwork for delivery to the customer. If you did not enter all of your customer, vehicle, and deal information, you will be prompted to do so along the way. After you print for delivery, you will need to finalize the deal. For more information, see “Finalizing Deals”.


Selecting Products and Options

This section assumes you did not select the Quick Quote option discussed in “Using Quick Quote” and you are still in the New Deal Entry dialog. If you selected Quick Quote, you will have to go back to the New Deal Entry dialog, fill out all required information, and click Continue to get to this point in the process.

1. After you have entered all of your customer, vehicle, and deal information, click the Continue button at the bottom of the dialog.

Note: The Create a Menu dialog appears where you can select and edit F&I product packages, such as Platinum, Gold, Silver, or Custom, for your customer. When you make changes to these packages, the total costs are updated.

2. To select a product package, click the check box next to the desired product package.

Product Packages


3. To edit an F&I product in the selected product package, click Edit to the right of that line item. This displays a dialog where you can edit certain items related to that F&I product. The dialog contains different fields depending on the product selected. Click Save Changes when you are done.

Edit F&I Product 


4. At this point, you have several options:


Item
 Description
Back
 This takes you back to the New Deal Entry page where you can change information related to the deal.
Display Menu

 

 You can now print the final paperwork for the customer’s signature.

 To return to the previous dialog, click Back.  
Continue
 This saves your entries and opens the next dialog.

 

5. The Deal Details dialog opens where you can make several selections:


Item
 Description
Monthly Payment
 The system-generated monthly payment is selected by default. If you need to adjust the payment, select Other Monthly Payment and enter the new amount.
Amount Financed
 The system-generated amount financed is selected by default. If you need to adjust this amount, select Other Amount Financed and enter the new amount.
Continue
 This moves your deal to the Recent/Unpaid Deals left navigation menu. You are ready to finalize the deal at this point. For more information, see “Finalizing Deals”.


Deal Details


6. CGW displays the final customer paperwork for this deal. You can view it or print for the customer’s signature. To finalize the deal, see “Finalizing Deals”.

Customer Paperwork Including the Product Disclosure Street