Quoteware is a web service that enables OEM's, lenders and retailers to reproduce exact calculations of finance products through any web platform.
The service is exceptionally flexible and can be utilised within a broad range of scenarios. These include;
- Integrated with a retailers/vendors new and used stock or equipment
- As a finance engine within a point of sale application or loan origination platform
- Microsites to promote a specific product with a unique finance offer
- Showroom systems
- CRM retention platforms
Quoteware is capable of simultaneously producing multiple quotations on a complete range of products from all the leading lenders. Products such as Installment Credit, Personal Contract Purchase, Lease Purchase, Personal Leasing and Hire Purchase can all be returned by the web service. Quoteware is also capable of handling subsidy calculations where the vendor wishes to support the finance offering. Quotations are based on customer’s specific requirements for term, annual mileage (vehicles), deposit and/or initial rental and all available finance options can be shown against all stock thus allowing the user to compare different finance options. Other variables from which calculations can be derived include commissions, yield, flat rate and APR.
Quoteware has been developed to allow our clients to meet the increasing needs of consumers who possess greater IT literacy and require a high level of fulfillment and real time interaction. When integrated into your customer facing website, Quoteware will not only enable consumers to compare all their options without the need to look elsewhere but more importantly will make your stock or product appear more affordable by focusing on payment/rental instead of purchase price.
Key Features
- Simple to integrate into your existing web application – easy to use XML schema
- Enables consumers to search your stock by their monthly finance payment budget
- Ability to pre-quote on multiple vehicles or stock items, with multiple products - changing the focus to monthly cost as opposed to total cost
- Ability for customers to vary quotation parameters - dynamic quotations based on customer preferences
- Fully validated service - only quotations that fit the defined criteria will be returned
- Quotations generated in APR, Flat Rate/Yield or Commission – All controlled by you
Functionality includes full validation of;
- Minimum and maximum rates
- Minimum and maximum loan terms
- Minimum and maximum advance
- Ability to define rates and terms on a per vehicle/product basis
- Ability to define rates and terms on a per retailer basis
- For used vehicles/products age restrictions are accounted for
- Vehicle mileage restrictions (miles or kilometres)
Full figures are returned to ensure compliance under the Consumer Credit Act including;
- APR - Annual Percentage Rate
- AER - Annual Effective Rate
- Halves and Thirds for HP based products
- Full payment schedule (including total amount repayable and any applicable fees)
- Residual Value calculation where applicable
