Motonovo integration guide

How to send an application manually

Select 'Send to lender ' in the top right corner of an application.

• A quote will only show once any outstanding criteria have been met
• If a quote can't be shown because it needs more information, a collapsible section will appear next to the name of the lender in the 'Lenders' section of the application

• Selecting the text or the plus symbol on the right-hand side will open a list of links to the missing information
• When you select a link, a window will appear where you can fill in the missing information
• Once the missing information has been filled in, the link will disappear from the list

How a deposit is handled

The way a deposit is handled (dealer contributions included) and how they split out their schedules will be as follows:

Priority is:

1. Any negative equity/settlement shortfall
2. Towards the cash price/advance of the vehicle
3. Never VAPS (Value added products) - If the deposit is ever big enough to cover the full cash price of the car, they would not write a personal loan for Value added products alone; there must always be a primary Hire Purchase/PCP product.

Example figures;

Using the example figures, it would set out like this:

• Negative equity = £2,000 ($4,000 minus full £2,000 deposit)
• Vehicle price = £20,000
• VAPS = £3,000
• Total advance = £25,000

How VAPS are handled

The product categories in AutoConvert will be mapped as follows to the lender and included in the relevant loan:

Sending to lender

• Once the application meets the lender's criteria and a HP quote is shown, you can select 'Send'. Any payments shown here are only a calculation, based on the rate selected in the application.
• For PCP, you must select the 'Get Quote' button. This will get the relevant quote with balloon payment against that tier before you can select 'send'.

• In the Activity feed section of the application overview page, the sent status will display as 'pending verification' until a decision is made. The decision is not instant and may take a few moments to come through
• The finance application will return with approval, decline, filter or error

Check Status 

• If the application is in 'pending verification' for a while, you can select 'Verify' next to 'Actions' in the 'Sent to Lender' section on the activity feed to manually verify it by completing a 'check status'

• Selecting 'Check Status' in the Lender response section of the main application view will manually call the lender to check for a status update. The automatic checks for updates will also still run.
• The latest status will be updated in the Sent to lender section next to 'Status' and will show any information you need to act upon to continue the application

Approved response

• Once an application is approved, the status will change to approved in the activity feed
• Selecting 'View' next to 'Response' in the Sent to lender section will show the information returned by the lender. You'll be able to see timestamps linked to decision timeframes.

• The approval information and conditions are recorded here.

   

Lender approval information

• A lender approval will be created that shows a full breakdown of the overall approval figures. The elements will be split out in a way that replicates the consumer documentation.
• The credit breakdown shows which products are included in the vehicle loan and which in the VAPs (Value Added Products) loans.

• The approval will also appear in an application's 'approvals' section. Any manual edits can be made by selecting 'Edit' on the right side
• Approvals show the breakdown of each schedule agreement
• Only the overall combined figures can be manually edited. Any multi-schedule loan elements are all greyed out as the lender provides them directly.
• If you were to create a manual approval from scratch, it would only make an overall total balance amount, not a multi-schedule breakdown.

Declined response

• If an application is declined, the status will change to declined in the activity feed
• Selecting the 'response' will show the information returned by the lender with timestamps linked to decision timeframes.

Updating the application

• In the 'send to lender' section, Motonovo will show as 'approved' with a timestamp of the approval date.

• If you change vehicle or finance figure information, clicking update will send through the revised application information and update the existing application reference. Any changes to personal information will show a 'send' button, which will send a whole new application through, duplicating it.
• The rest of the application can now be completed via Motonovo's point of sale system
• You can manually create and update any further approvals in AutoConvert
• You can record a conversion in AutoConvert once the application has been paid out

If you need any more help, please raise a ticket on the AutoConvert system or email support@autoconvert.co.uk