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An administrator who is managing a lease end sets up a table to store the fair market values (FMV) of vehicle products (typically of vehicle products that do not have enough auction data points) to facilitate Fair Market Value calculations.
For more information about administrator-related tasks for managing a lease end, see Setting Up the Fair Market Values (FMV).
An agent receives a call from a customer with questions about their lease ending in a few months and what they need to do. After identifying and authenticating the customer, the call center agent views the customer's accounts. The call center agent informs the customer to take the vehicle for inspection and schedule a date for turning it in. In addition, the customer wants to know what their options are regarding buying the leased vehicle. The agent can go through the fair market value calculations and determine whether the customer pays less than the current residual or the fair market value of the car. If the customer is not interested in buying the vehicle, then the remarketing department can decide on how to consign the vehicle for an auction.
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