9. Tools

Depending on the type of product you are working with during origination, the Tools screens enable you to calculate Lease and Vehicle value details.

Tools in the main menu are standalone and information calculated using them can only be viewed.

9.1 Lease Calculator

The lease calculator works in one of four modes, depending on which of the following options you select in the Lease Calculator section:

• Calculate Payment
• Calculate Rate
• Calculate Residual Percent
• Calculate Gross Capitalized Cost.

The Calculate Payment mode calculates the base monthly payment using the information provided: the gross capitalized cost, capitalized cost reduction, residual percentage, rate, and lease term.

The Calculate Rate mode calculates the rate and the rent factor using the gross capitalized cost, capitalized cost reduction, residual percent, lease term, and base monthly payment.

The Residual Percent mode calculates the residual percent using the gross capitalized cost, capitalized cost reduction, rate, lease term, and base monthly payment.

The Gross Capitalized Cost mode calculates the gross capitalized cost using the capitalized cost reduction, residual percent, rate, lease term, and base monthly payment.

Note

If you want to clear (or “refresh”) the lease calculator at any time, click Initialize in the Lease Calculator section.

To calculate a lease payment

1. On the Oracle Lending and Leasing home screen, click Tools > Tools > Lease Calculator.

   

2. In the Lease Calculator section, click Calculate Payment, then click Initialize.
3. In the Lease Details section, complete the following fields:

   Field:	Do this:
   Contract Dt	Enter the contract date.
   First Pmt Dt	Enter the first payment date.
   Maturity Dt	View the maturity date.
   Gross Capitalized Cost	Enter the gross capitalized cost.
   Capitalized Cost Reduction	Enter the capitalized cost reduction.
   Adjusted Capitalized Cost	View the adjusted cap cost.
   Residual Value (-)	View the residual value.
   Residual%	Enter the residual percentage.
   Rent Charge (+)	View the rent.
   Rate	Enter the rate.
   Rent Factor	View the rent factor.
   Total of Base Monthly Pmts (=)	View the total of payments.
   Term	Enter the term.
   Base Monthly Payment	View the base monthly payment.

4. In the Lease Calculator section, click Calculate.

The system calculates the Base Monthly Payment (=) field on the Lease Details section.

To calculate a rate

1. In the Lease Calculator section, click Calculate Rate, then click Initialize. You can refer to the above section for updating information in the required fields.
2. In the Lease Calculator section, click Calculate.

The system calculates the Rate field on the Lease Details section.

To calculate a residual percent

1. In the Lease Calculator section, click Calculate Residual Percent, then click Initialize. You can refer to the above section for updating information in the required fields.
2. In the Lease Calculator section, click Calculate.

The system calculates the Residual% field on the Lease Details section.

To calculate a gross capitalized cost

1. In the Lease Calculator section, click Calculate Gross Capitalized Cost, then click Initialize. You can refer to the above section for updating information in the required fields.
2. In the Lease Calculator section, click Calculate.

The system calculates the Gross Capitalized Cost field on the Lease Details section.

9.1.1 Printing a Quote

You can generate a summarised report using the calculated lease details in the format of quote with lease details and charges.

In the Lease Calculator screen, click Print Quote. The system generates a PDF document to the default downloads repository consisting of the following information in the respective headers:

Lease Details

The Lease Details section consists of Contract Start Date, Contract End Date, First Payment Date, Total Lease Term, and Rate.

Payment/Finance Charge

The Payment/Finance Charge section consists of gross capitalized cost, adjusted capitalized cost, percentage of residual value, rent factor, base monthly payment, and total of base monthly payments including rental charges.

9.1.2 Copy Calculation to Contract or Decision tab

Depending on the screen from where you have accessed the tools sub tab, you can copy the calculated values to either Contract or Decision tab. If you are in Underwriting stage, you can copy the values to decision tab. Similarly during Funding stage, you can copy the values to contract tab.

1. Click Initialize and reset the calculator.
2. Click Import values. System displays basic values entered in previous tabs.
3. Select one of the following option “Calculate Payment/Calculate Rate/Calculate Residual Percent/Calculate Gross Capitalized Cost” and click Calculate. System displays calculated values based on selection.

Click Copy to Contract/Decision. The calculated details are copied to the respective fields in Contract/Decision tab.

9.2 Vehicle Evaluator

The Vehicle Evaluator screen allows you to calculate the value of a vehicle. You can use the Vehicle Evaluator screen to calculate the value of either a vehicle you are entering as the new collateral or vehicle currently listed as the application’s collateral.

The Vehicle Evaluator screen can be cleared or refreshed at any time by clicking Clear.

To calculate a vehicle value

1. On the Oracle Financial Services Lending and Leasing home screen, click Tools > Tools > Vehicle Evaluator

   

2. In the Vehicle Evaluator section, use Asset field to select the vehicle you want to appraise. This can be either NEW COLLATERAL or a vehicle entered on the Collateral link.
3. In the Vehicle Evaluator section, click Initialize. The system completes Valuation Source, Period and Region fields.
4. If needed, you can change the default contents of the fields in Vehicle Evaluator.
5. If you selected a vehicle from the Collateral link in step 3, information from the Vehicle section appears in Vehicle section in Vehicle Evaluator screen.
6. If you selected NEW COLLATERAL in step 3, complete the Identification #

-or-

Complete the fields in the Vehicle section.

7. In the Vehicle Evaluator section, click Evaluate.

• If you have specified the vehicle identification number, system searches for the value of that vehicle with that identification number, then completes Vehicle Evaluator screen with information about that exact match.
• If you completed the Vehicle section, system searches for the value of a vehicle matching that description.
• In either case, the system displays following information about the vehicle:
• In the Vehicle section, view the returned information:

Field:	View this:
Year	The asset year.
Make	The asset make.
Model	The asset model.
Body	The asset body style.
Usage	The asset usage or current mileage.
Weight	The asset weight.

In the Valuation (Total Value) block, view the returned information:

Field:	View this:
MSRP	Manufacturer’s suggested retail price value of the asset.
Total	Total value of the asset.
Usage	Adjusted usage value of the asset.

In the Base and Attribute Value section, view the returned information:

Field:	View this:
Base Retail	Total retail value of the asset.
Base Loan	Base loan value of the asset.
Base Trade	Base trade value of the asset.
Retail	Retail value of the asset attributes.
Loan	Loan value of the asset attributes.
Trade	Base trade value of the asset attributes.

9.2.1 Attributes Tab

In the Attributes section, view the following information:

Field:	View this:
Attribute	Asset attribute.
Retail	Attribute retail value.
Loan	Attribute loan value.
Trade	Attribute trade value.
Standard	Standard indicator. If selected, indicates that the attribute is a standard.
Package Incl	If selected, indicates that the attribute is inclusive.
Selected	If selected, indicates that the attribute is selected.

If you want to re-calculate the values using other data in Total Value and Base and Attribute Value section, do the following:

• Make the required changes to the desired parameters fields in Vehicle Evaluator and Vehicle sections.
• In the Vehicle Evaluator section, click Recalculate.

The system updates the values in Total Value and Base and Attribute Value sections.

If you choose, use Attributes section to select or clear the Selected box for attributes of the vehicle. This automatically updates the values in Total Value and Base and Attribute Value sections. (Note: Attribute amounts within brackets reduce the amount in Totals field in the Total Value section.)

To copy the calculated value to the Collateral link

You can copy the calculated value to Collateral link only if you have accessed the tools tab either from Underwriting or Funding Tab. Accessing Tools from the main menu does not support this option.

1. Complete the following steps in the section To calculate a vehicle value.
2. In the Vehicle Evaluator screen, click Copy to Asset.

The system uses calculations on the Vehicle Evaluator screen to complete Valuation sub screen on Collateral link. Any pre-existing collateral is no longer the primary collateral.