In the automotive sector, following a positive credit decision for sales financing, trading partners require additional liquidity to order the vehicle or release it from existing wholesale or retail financing arrangements. In some cases, the trading partner would prefer to leave the vehicle in wholesale financing, but requires the registration certificate for preparing the sale of this vehicle. For financial services providers, this form of pre-financing also has a sales function alongside the direct business, because whoever provides for additional liquidity is generally also the preferred business partner in arranging wholesale financing.
The Advance Payment module group provides submitters (trading partners) with customised processes for the application, approval and settlement of advance payments for asset financing as soon as a positive credit decision for the retail financing of this asset is available. The scope of services ranges from the complete data transfer of the authorised retail financing request, the flexible selection of individually tailored repayment schedules, the recording of the required data content with appropriate validation checks, the automated search for information, the generation of automated or manual credit decisions with the help of workflow-aided credit processing and disbursement through to contract management and bookkeeping.
When establishing a master contract for advance payments, all settings such as the limits granted and their usage rate, base interest rates, ratings based on quantitative and qualitative criteria and many more, can be carried out.