Understanding Finance Source Requirements & Features

How might the finance sources you eContract with vary?

Finance sources may have different eContracting-related requirements or different options that are available when you eContract with them. Finance sources vary in several key areas: a) the states they eContract in; b) the type of deals they support; c) if validation is available or required; d) whether they support Spot Buy.

For a complete list of available eContracting Finance Sources click here.

State Availability 

Some finance sources eContract in all states, while others eContract in specific states.

Deal Type

While Retail is the most common deal type that finance sources eContract, some also support Lease and Business deals as well. 

Validation Before Contract Generation

Validation allows you to send the contract details to the finance source for review before the contract is signed by the customer. The information in the worksheet is checked against the validation rules specific to the finance source. This allows you to correct information before sending the contract package to the finance source, which reduces the risk of held offerings. Note that validation availability varies by finance source.

Finance sources have the option to either require validation, optionally allow validation, or offer no validation. 

Validation Required: If the finance source requires validation, the ‘Validate’ button will be available, and you must first click and proceed through the validation process. The ‘Generate Contract’ button will not become visible until validation is either successful or returns a warning message. If the finance source you are using requires validation, you may also be able to take advantage of the Required Form List functionality.

Validation Optional: If validation is optional for the finance source, both the ‘Validate’ and ‘Generate Contract’ buttons will be visible simultaneously. You can elect to click the ‘Validate’ button, or proceed directly to generating the contract. If validation is optional, you can still benefit from validating the contract details and ensuring that you are not sending information in violation of your finance source’s validation rules.

Validation Not Offered: If the finance source does not offer validation the ‘Validate’ button will not be present. You will only see the ‘Generate Contract’ button. 

Validation results are displayed in the ‘Alerts and Instructions’ section of the Contract Worksheet. Validation will either trigger a ‘success,’ ‘warning,’ or ‘error’ message in the Contract Worksheet.

Validation Success: No issues found. Click ‘Generate Contract.’

Validation Issue: Issues may exist, but the ‘Generate Contract’ button will still appear and the contract can still be generated. Be aware that issues may cause delays in funding.

Validation Error: Errors in the information input in the Contract Worksheet will be specified, and you cannot proceed until they are corrected. Make the requested changes and click ‘Validate’ to resubmit the contract for validation.

Spot Buy

Typically, eContracting requires that a credit application has already been submitted and approved before you can begin the eContracting process. However, if your finance source supports Spot Buy, you can begin the eContracting process before you have a submitted and approved credit application.

A Spot Buy can also be created if the credit application or credit bureau was previously saved. 

Customized Contract Worksheets

Captive finance source partners have invested in customized solutions to ensure your eContracting process is seamless. Customized Contract Worksheets typically differ in the ‘Other Charges and Insurance/Warranty section with regards to:

Product Itemization: Some customized worksheets contain more itemized product lines, while the standard RouteOne worksheet contains fewer itemized lines and more ‘Other’ lines.

Provider Selection: Some customized worksheets contain a list of providers for the selected product, while the standard RouteOne worksheet provides an open-end text field to input the provider’s name. 

View Finance Sources by Supported Features in our Connection Hub

Visit the connection Hub