Vehicle Configuration (Quote Settings) Customizing inventory automatically Alex Snyder
What can you do?
- Customize vehicles based on New/Used, Year, Make, Model, and/or Trim
- Toggle what kind of back-end profit you want to make
- Setup warranties down to the trim level
- Setup maintenance plans down to the trim level
- Put other additions like pin-stripes or nitrogen tires on new cars
- Configure special fees
- Configure special discounts
- Apply freight separately
Profit
There are two types of back-end profits you can target in illumiQUOTE.
- Target Reserve with a dollar amount
- Rate Bump to mark applicable APRs & Money Factors up
A Target Reserve is something new where you can tell illumiQUOTE you want to make a specific dollar amount in Paid Reserve (also known as F&I Reserve or back-end profit) and illumiQUOTE will markup rates to fit that dollar amount.
A Rate Bump is the traditional way of starting F&I profits. You tell illumiQUOTE how much to bump the APR and Money Factors and it does that. Don't forget to "Accept lower maximum bumps" if you will take a lesser bump or if your lender does not always allow the amount of bump you're trying to get.
Warranties & Maintenance Plans
You can set up a warranty and/or maintenance plan for new and used cars. These can be required like the Zurich Shield example in the image above or optional to "soft sell" your customers on the idea of purchasing an extended warranty and/or maintenance plans.
Other Additions
If you have an addendum sticker or do add-ons to certain vehicles you can set those up here. Pinstripes, lift kits, nitrogen tires, winter tires, etc.
Fees
You can apply fees by new/used or even down to the trim level if you have special call-outs that need to be accounted for.
Discounts
You can have a lot of fun here. This is a great way to get your customers excited about doing business with you and create a stronger way to differentiate yourself from your competition.
Pricing
This is the beginning of pricing rules within illumiQUOTE. The need for handling freight differently arose out of the Northern Virginia/DC market where competition is so fierce the top-level price is shown without freight and then it is added back into the deal. If you are not doing anything special you can put a 0 (zero) into the field. In time, this will become much more robust!
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