Bailment Dealer Override Rates

Bailment Dealer Override Rates

Concept

Allows for the selection of Interest Profiles to a bailment dealer that will override the interest profile setup on the floorplan profile.

This may be applied to the Dealer, or on a Distributor by Distributor basis.

The interest profile will be associated with a base rate.  A positive or negative margin will then be applied to that interest profile.

The derived rate will be used to calculate dealer interest.

Once an override interest profile has been allocated to a Dealer, it may not be changed to another profile or deleted.  If the Dealer is to be returned to normal business terms, then a transaction rate line will be added to the override interest profile with the standard margin value dated appropriately.

The hierarchy of applying interest rates to bailment accounts is:

  1. First – Distributor override rates
  2. Second – Dealer override rates
  3. Third – Floorplan Profile rates

Applying an override rate to an existing dealer

When adding override interest profiles to Bailment Dealers with existing accounts, the interest profile rate must reflect the historical rate transactions, so that the system does not re-calculate interest charged prior to the special rate taking effect.

The easiest method to set this up is by selecting the standard floorplan or due in full interest profile, and using the [Copy] functionality to duplicate the interest profile.

From that point, the new rate line is added to the interest profile, value dated for when the special rate will be effective from.


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