When calculating loan or leasing installments for vehicle financing, the exact forecast of residual values determines the attractiveness of the offer. The more precisely the vehicle to be financed, including standard and optional equipment, can be described, the easier it is to determine the correct residual value. In principle, identification can be carried out using various numbers or codes. These include, for example, VIN (vehicle identification number/chassis number), HSN/TSN (manufacturer/type code number), codes from ETS (Eurotax Schwacke) or DAT (Deutsche Automobil Treuhand).
The Online Asset Configuration & Valuation solution uses the codes to read the vehicle-specific standard and manufacturer-installed special equipment. Automatic identification enables the vehicle value to be reliably determined. The automatic transfer of the vehicle specification and residual value to the financing application significantly speeds up the processing procedure and also reduces sources of error.
Fast vehicle identification
The VIN query allows you to identify your vehicle quickly, easily and precisely, including standard and optional equipment. For this purpose, the VIN (Vehicle Identification Number) is compared with the databases of the connected manufacturers. The result: You receive information about the model series, the body shape, the engine and, above all, the exact equipment ex works.
Use of the data in the application process
The "configuration" of the vehicle via the VIN query eliminates the need for manual configuration by the dealer and saves time for important tasks at the PoS.
Standard and optional equipment
Determination of the vehicle-specific standard and optional equipment in order to make the subsequent evaluation of the vehicle more precise.
Purchase of vehicles
A dealer can use VIN information to assess much more quickly whether it is worth buying a used vehicle or at what selling price he can resell the used vehicle.
Determination of market value, purchase value
Based on the VIN recorded by the dealer and the configuration of the vehicle, the financial services provider can precisely determine the current market value. Determination of the market value or purchase value as well as separate detailed valuation according to standard and factory-fitted optional equipment.
Detailed evaluation of the equipment
Separate from the determination of the vehicle value, a detailed evaluation can also be carried out according to standard and factory-fitted optional equipment.
Highlighting anomalies
If the requested financing amount deviates too much from the determined market price, this process is flagged by the system and can be processed manually.
Retailers and financial service providers benefit from clear identification and reliable evaluation through accelerated front, middle and back office processes.
Automatic data transfer to the financing application reduces the error rate.
The flexibility of the solution enables seamless integration into existing process landscapes. This makes manually determined valuations a thing of the past.
Consumers can obtain current market prices independently of time and place via a customer self-service. Realistic valuations of old vehicles for trade-ins for new financing facilitate the decision-making process. Faster processes when preparing offers give more time for advice and sales, leaving customers with a positive feeling.
