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Visual Audit
Visual Audit
Eligible for 90-day Pay Off
Eligible for 90-day Pay Off Override
State (CA)
Notes
When does it begin? Begins date of Delivery
When does it begin? Begins date of Delivery
Check Tracking info
What voids 90 day?
What voids 90 day?
*MISSED, RETURNED, OR LATE PAYMENTS
*IF 90 DAY BALANCE IS NOT PAID BY THE EXPIRATION DATE
*MISSED, RETURNED, OR LATE PAYMENTS
*IF 90 DAY BALANCE IS NOT PAID BY THE EXPIRATION DATE
Exceptions:
Exceptions:
*If a payment is made up before it returns
*Q- Errors DO NOT void 90 day
*Uown is closed on expiration date
*If a payment is made up before it returns
*Q- Errors DO NOT void 90 day
*Uown is closed on expiration date
For state of California What voids 90 day?
*If 90 day balance is not paid by the expiration date
For state of California What voids 90 day?
*If 90 day balance is not paid by the expiration date
90-DAY REINSTATEMENT FEE = SETTLEMENT
When speaking to the customer we will refer to amount of the 90-day + RF is a Settlement NOT a reinstatement fee
Internally the process will remain the same, we just cannot refer to it as a RF to the customer
The calculations and guidelines will remain the same for 90-day +RF
Add it as a reinstatement fee in due amounts
Document the account as 90-day +RF/settlement
Script:
I CAN OFFER YOU A SETTLEMENT AMOUNT CLOSE TO THE PROMOTIONAL PRICE OF $X” (calculate 90-day + fee)
90-DAY PROMOTIONAL OFFER
It is a 90-day promotional payoff option NOT 90-day same as cash option. There are times we charge more than same as cash for their 90-day, refer to the lease to determine the amount of the 90-day.
· SAC
· SAC + 5%
· SAC + 10%
“YOU SIGNED A LEASE FOR UP TO 13 MONTHS WITH AN OPTION TO PAY THE PROMOTIONAL OFFER WITHIN THE FIRST 90 DAYS”
**Add the words UP TO 13-months when explaining the lease. This makes it clear that they are not obligated to go the full 13 months but that they can pay off at any time. Nothing changes in terms of the amount due at the time of the call but simply the way that we explain it.
Pay off options remain the same:
90-day offer
90-day+RF/settlement
EPO
Settlement
Full payoff
Anything else approved by a TL
COMMON SCENARIOS
90-day option
“YOU SIGNED A LEASE FOR UP TO 13 MONTHS WITH AN OPTION TO PAY THE PROMOTIONAL OFFER WITHIN THE FIRST 90 DAYS”
Quoting pay offs
“YOU CAN PAY OFF AT ANY TIME BUT IF YOU CHOOSE TO PAY BY THE 13TH MONTH YOUR BALANCE IS “$”
“IF YOU CHOOSE TO PAY BY MONTH 13th YOUR BALANCE IS “$”
If they ask what you mean by “choose to”
“YOU CAN PAY OFF AT ANY TIME, UP TO 13 MONTHS”
90 days + RF
“YOUR 90 DAY PROITIONAL OFFER VOIDED/EXPIRED, DUE TO (EXPLAINATION) HOWEVER, YOU HAVE THE OPTION TO PAY THE EPO PRICE, AS OF TODAY IT IS $X”
“I CAN OFFER YOU A SETTLEMENT AMOUNT CLOSE TO THE PROMOTIONAL PRICE OF $X” (calculate 90-day + fee)
Changes made on the account that will not affect the 90 day
Changes made on the account that will not affect the 90 day
*One due date change and frequency change is allowed during the 90-day period without voiding the option.
*One due date change and frequency change is allowed during the 90-day period without voiding the option.
*DD changes before 1st payment can only be moved 10 days out
*DD changes before 1st payment can only be moved 10 days out
*Extra Payments-
*Extra Payments-
When processing an extra payment during the 90 day please allocate the funds to EPO Pool.
When processing an extra payment during the 90 day please allocate the funds to EPO Pool.
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