To begin desking a transaction, click on the Desking tab and a pop up window will immediately be opened.  This window sorts all of the vehicles that the customer qualifies for and that are acceptable to the Lender for that customer. It also compares each vehicle to the requirements of each Lenders approval guidelines, so you may see the same vehicle multiple times. It also lists the Make/Year/Model of each vehicle and the number of days the vehicle has been in the inventory.

The "List of Deals" window indicates the selling price on that vehicle for that lender, the customers monthly payment, what the interest rate will be for the customer (which is the contract rate) and also lists the buy rate in the event the lender provides the dealer a finance reserve participation. It also lists the customers down payment. The number of days in inventory allows the Dealer to manage the "aging" of the inventory. The Dealer may wish to sell a vehicle that has been in inventory for an extended period of time, and accept a lower amount of profit than the vehicle he recently purchased from an auction. The selling price always begins with the maximum selling price, so that every transaction can be compared relative to its maximum potential sales price. The monthly payment indicated is based upon these maximum selling prices.

NOTE:  If, after opening the Desking page, you receive the message "No Vehicles Found", it means that the vehicles in your inventory are not acceptable to any Lender.  If this occurs, we suggest that you check to insure that all of your inventory has been input into the FEX system.

The system indicates the customers down payment as whatever their payoff was on their trade-in. In this way, the system shows the maximum potential profit for the deal. Deals are listed in descending order based on profit. Once you have selected the best deal, you will then begin structuring the deal by clicking on the "Deal" button. This step loads the selected vehicle into the desking tool as the desired vehicle for the customer.

NOTE:  At this point, it is important to know that although a particular Lender has been selected, YOU ARE NOT COMMITTED TO COMPLETING THE TRANSACTION WITH THAT LENDER.  This step is simply selecting a deal structure, which can then be sent to every lender giving you a "green light". Later, you may select the actual Lender and the approval that is best for the dealership and for the customer. At that point, you are ready to create and print the contracts.

After a vehicle has been selected and you require additional information regarding the selected vehicle, you may pressing the "View Vehicle" button which will immediately display all of the information for that particular vehicle, as you have entered it into your inventory record.

The NADA/Kelley box becomes active as soon as you have selected a vehicle and clicked on the "Deal" button.  It indicates the wholesale and retail values for the selected or desired vehicle.

The next section is the Kelley and the NADA values for the trade that you entered on the Trade In tab. All of the information from that tab is shown here. At this point you should enter the trade ACV (actual cash value). You may also assign the trade-in a stock number at this point, and if this deal is closed, the trade-in with this stock number will be added to your inventory.

One of the most valuable areas of the Desking Page contains what we refer to as an electronic Four Square. The components of the four square are the Sale Price, the Monthly Payment, the Trade-in Allowance and the Cash Down payment. This section of the system provides the ability to manipulate or change the values of these 4 components with the click of a rollback button. By selecting a given lender (within "Select all Lenders all Tiers"), the system automatically loads the lenders Maximum Advance rate percentage into the four square. The system also enters lenders acceptable Term, Contract Rate and Buy Rate. The final step is to enter the amount of the customers cash down payment and fill in the trade-in allowance given on the customers car.

At this point, you also have the option to enter the maximum monthly payment that the customer is willing to pay into the "Maximum Payment" box located directly above the green "Monthly Payment" box. Highlighting the small round "rollback" button to the left of the Sale Price box will determine what the sales price needs to be in order to obtain the maximum monthly payment. This same feature is true if you choose to highlight the small round "rollback" button located to the left of the Cash Down payment. Selecting this option will adjust the calculations based upon the amount that you have entered in the Cash Down field. The third "rollback" calculates the transaction based upon the given Trade-in Allowance. In this way, the entire transaction may be repeatedly re-calculated given any of the various criteria.

The "Recalculate" button islocated at the top right portion of the screen, directly above the “Sale Price”.  This feature is useful when you wish to recalculate the entire transaction, including the payment, maintaining the same level of profit on the deal.

NOTE: Remember, the "Rollback" button recalculates the transaction, including profit, but keeps the Maximum Payment fixed. The "Recalculate" button recalculates the transaction, including payment, but keeps the Profit Amount fixed.

The lower right section of the Desking Page is designed to calculate all "back end" and after market profits. Clicking on any of the underlined items, such as Extended Service Agreement, allows the Dealer to input the cost for the respective product.

In order to adjust the system for sales taxes applicable to the customer's tax rate, simply find the rate listed below the customer's zip code and enter those rates into the box that displays your dealership tax rates.

In the lower left section of the Desking Page is a check box that is labeled "Customer View". Clicking this check box changes the view on the screen to only that information that is related to the customer. In other words, all of the information that is related to the dealer (such as profit) will be hidden from view.

At the bottom of page is the Outstanding Issues box. This box is designed to inform you if there is a problem with the deal structure.  If you have done something that is outside of the lenders approved program, the box will turn bright red. This indicates that there is a problem, and at the same time, the issue will be detailed in the Outstanding Issue box, indicating what must be done to correct the problem.

NOTE: Before proceeding, it is necessary to click on the button marked "SAVE/UPDATE THIS DEAL".

After a Lender approval has been selected and the deal is final, the final step is to click on the button in lower left corner labeled "Go to Funding". Clicking on this button accomplishes the following three actions: First, the FEX system automatically sends an email to the Lender notifying them that you will be sending them the deal according to the terms of their approval. Second, The FEX system automatically selects all of the relevant forms from the Forms Library that are required by this Lender for this particular transaction. Third, the FEX system automatically creates the Funding Record or "Recap Sheet" (sometimes referred to as the "wash out sheet"), which is the full accounting record for this particular transaction.

After the Go to Funding button has been pressed, you will automatically be redirected to the Funding tab.