F&I Assist Program

The F&I ASSIST Program, is a product specially developed for the Dealers with the necessary bank-codes that is in need for the services of a qualified F&I from time to time or even on a permanent basis.

F&I on a Permanent Basis

This program is developed for the dealer that needs an F&I permanently, but for whom the financial implications of employing a full-time F&I does not make sense. For this dealer the program can be implemented as follow:

  • BPVF together with the Dealer authorises the “platform”-operators (i.e. SIGNIO) to open his codes on BPVF’s boardroom enabling BPVF to transact as F&I’s on their codes.
  • BPVF will assist the Dealer with setting up his files to be compliant as per IDA and Moonstone.

Services

Dealers Responsibility

The Dealer forwards all applications immediately to the Boland Private Vehicle Finance applications faculty together with clear legible copies of all FICA document.

The dealer needs the have at least one NCR registered person that can sign up customers.

The Dealer needs the supply BPVF with the following:

  1. Upon requesting contract:
    • A Tax invoice
    • A Copy of the NATIS or Dealer-stock.
    • A photograph of the odometer of the vehicle
    • Proof of the last service done
    • A copy of the RWC
  2. Directly after signing contract:
    • All outstanding FICA documents as requested
    • A copy of the signed contract if needed
    • A copy of the NATIS where registered in the name of the finance-house and customer

BPVF's Responsibilities / Services

  • BPVF will have a “real-time interactive activity board” set up on as many PC’s of the Dealer as requested. On this the Dealer will be able to monitor the progress of every application.
  • BPVF will load the applications on the system of choice to try and obtain approval from the finance-houses.
  • BPVF will after obtaining a final approval, will discuss the approval with the customer and the Dealer. Upon receipt to request the contract from the Dealer, BPVF will do so and make arrangements for the signing of the documentation in collaboration with the relevant person at the Dealer.
  • BPVF will submit payout after receiving the relevant documents and will monitor payout to the Dealer and inform the Dealer once payout-podium has been released.
  • BPVF will invoice the Dealership every Thursday for paid out transactions and expect payment from the Dealer by close of day on the Friday.

Cost Structures

  • The Dealer will load all his On-the-Road costs (i.e. registration, license, number plates, RWC, fuel and delivery charges) under the invoice-heading of “On-the-Road”, or any other cost as the Dealer decide upon.
  • The Dealer has to load our fees of R 2 000.00 (VAT Incl.) under “Service & Delivery” or any other cost as the Dealer decide upon. The Dealer will be invoiced by BPVF for this amount.
  • The only cost to the Dealer will be 50% of the DIC that BPVF will invoice the Dealer for.

Structure regarding BPVF being a relief F&I for the dealer

In the case where the Dealer only makes use of BPVF as a Relief-F&I, all of the above as in paragraphs 2, 3 and 4 are applicable.

The only difference here comes with the following:

  • The transaction that was left by the Dealers F&I to complete, we will complete for the Dealer and only charge the Dealer 20% or R1 500.00 (whichever is the greater) of the DIC on the transaction.
  • All incomplete transaction upon handover to the resident F&I will still be invoiced as set out in paragraphs 4.2 and 4.3.

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