OFF-LEASE VEHICLE GROUNDING AND PURCHASING SIMPLE, FAST, AND CONVENIENT

Transcription

1 OFF-LEASE VEHICLE GROUNDING AND PURCHASING SIMPLE, FAST, AND CONVENIENT

2 When they lease, you lead. At Hyundai Motor Finance, we look for ways to support the long-term success of your business. We believe offering a lease product delivers great benefits to your customers and, with the right processes in place, an unparalleled opportunity for repeat and new business at your dealership. That is why we ve established a library of reference materials that provide a 360-degree view of leasing, including best practices, step-by-step guides, and much more. It s one more way we re invested in your success. Below is a complete listing of the available lease subjects, arranged according to the life cycle of one leased vehicle, from initial sale to vehicle remarketing, as well as customer retention at lease maturity. DEALER BENEFITS OF LEASING LEASING 101 HOW TO SELL A LEASE LEASE CONTRACT REVIEW AND DOCUMENTATION MANAGING LEASE-END LEASE-END PROCESS OVERVIEW BENEFITS OF CPO OFF-LEASE VEHICLE GROUNDING AND PURCHASING ONLINE AUCTION USING DEALER DIRECT Please contact your business development manager should you have any questions or to arrange for in-store lease training.

3 OFF-LEASE VEHICLE GROUNDING AND PURCHASING At Hyundai Motor Finance (HMF), we know off-lease vehicle grounding and purchasing should be a priority, not only because they support customer satisfaction they create great revenue opportunities at your dealership as well. IMPORTANT FOR YOU, IMPORTANT FOR YOUR CUSTOMERS Off-Lease Vehicle Grounding Grounding an off-lease vehicle is critical to ensuring the best possible lease experience for you and your customers. First and foremost, it lets HMF know the vehicle has been returned by the customer so we can process that customer s account and keep them satisfied. Second, it allows you to purchase this vehicle or, if you choose to pass on the purchase, notify us to schedule that vehicle for pickup. This frees up valuable space on your dealership lot. Off-Lease Vehicle Purchase The availability of high-quality off-lease vehicles plays an important role in achieving success with used vehicle sales. Because most returned off-lease vehicles are fewer than five years old and have less than 60,000 miles, approximately 80% are eligible for the certified pre-owned (CPO) program. CPO vehicles typically yield higher profits than non-certified used vehicles. Grounding and Purchasing Made Easy We offer two convenient options for vehicle grounding and purchasing: Hyundai GroundScan Mobile App, which is fully integrated with your Dealer Direct account and puts vehicle grounding and purchasing right at your fingertips. hyundaidealerdirect.com, a complete desktop experience for your remarketing needs. Whichever option you choose, both are clear and offer easy-to-follow prompts. We encourage you to identify a process for grounding the vehicle returns at your dealership. Consider designating a member of your team, such as your used car or service manager, to manage this important task. 2

4 Off-Lease Vehicle Grounding Using GroundScan The Hyundai GroundScan mobile app saves you time by allowing you to ground and purchase off-lease vehicles from your mobile device. You can even obtain signatures in the app, which makes it easier to prepare forms, like the Odometer Statement and Vehicle Return Receipt, for submission. GroundScan is part of the Dealer Direct family, so your in-app activity is synchronized to your primary Dealer Direct account every transaction made in-app can be revisited on your desktop. New to GroundScan? Take these simple steps to begin: 1. Register for Hyundai Dealer Direct at hyundaidealerdirect.com. 2. Search for and download the Hyundai GroundScan app using your preferred mobile application platform. The GroundScan app is listed as Hyundai Motor Finance GroundScan in the itunes Apple App Store SM and Hyundai GroundScan on Google Play TM.* 3. Review the GroundScan Quick Reference Guide. 4. Start grounding and purchasing your dealership s lease returns! *itunes and Apple are registered trademarks of Apple Inc. Google Play is a trademark of Google Inc. 3

5 Eight Steps to Vehicle Grounding in App Login 2. Identify Vehicle 3. Vehicle Confirmation 4. Odometer Confirmation 5. Dealer Location 6. Return Checklist 7. Confirm and Sign 8. Vehicle Turn-In Complete 4

6 Vehicle Grounding Step-by-Step Instructions 1 2 Login Log in using your Hyundai Dealer Direct Username & Password. Identify Vehicle Select the Scan button (not shown) to capture the VIN with your mobile camera, or use your keypad to manually enter the VIN or HMF Account Number in the space provided. 5

7 3 4 Vehicle Confirmation Confirm the turn-in vehicle s information. If a pre-term inspection has been completed, vehicle condition information will be populated. These are non-editable fields. This information will not be present if no pre-term inspection has been done. Select View CR to see the Condition Report. Select Yes to continue. Odometer Confirmation Enter the odometer information. If the lessee is present, select the arrow next to Lessee Signature to open the signature screen. Signatures may be completed with a finger or stylus. Select Continue. 6

8 Vehicle Grounding Step-by-Step Instructions 5 6 Dealer Location Verify your name and phone number. These fields are populated with your dealership s designated team member, but can be edited if needed. Confirm the vehicle s location to continue. Return Checklist Enter the Number of Keys/FOBs & Number of Keyless Remote information. Indicate whether the customer will lease or purchase another vehicle at your store. If yes, you will be prompted to provide the new VIN (if available) and select Continue. 7

9 7 8 Confirm and Sign Confirm vehicle information. To sign, select the arrow to the right of Dealer Signature. You may use a finger or stylus to sign. Select Continue. Vehicle Turn-In Complete Your return is complete. You may now Purchase Or Request Market Based Price, pass on the vehicle by selecting Decline Purchase, or return home by selecting Done to ground another vehicle. You may return to the Vehicle Details page (not available on the app) on hyundaidealerdirect.com should you wish to postpone your purchase. Vehicle purchase instructions are provided in the Off-Lease Vehicle Purchase section that follows. 8

10 Off-Lease Vehicle Purchase Purchase Prep Make a Purchase Decision To expedite the purchasing process, we encourage dealers to know their purchase plans for a vehicle ahead of vehicle grounding, or, if possible, before the vehicle is returned to your lot. The grounding dealer has the exclusive option to purchase the off-lease vehicle for up to the first 48 hours after grounding should the customer pass on the vehicle. When using the GroundScan app, purchases can be completed immediately after grounding. Please refer to the Grounding Off-Lease Vehicles section for details. Once a vehicle has been grounded, and you choose to postpone the purchase, all purchases must be made on hyundaidealerdirect.com. Best Practice Benefit During the grounding process, identify vehicles that may be good candidates for the CPO program. CPO vehicles consistently sell 1-2 weeks faster than non-cpo vehicles, and typically command higher prices.** **Returned off-lease vehicles that met the minimum Certified qualifications set forth by Hyundai Motor America. Assumes dealer completed general reconditioning. CPO turnover rate source: NADA Used Car Guide Perspective, Certified Pre-Owned Vehicles: Accelerating Forward, May

11 Post-Grounding Once an off-lease vehicle is grounded, a 6-day sales cycle, depicted below, is implemented. This section will focus on the first 48 hours. You can make a vehicle purchase immediately after grounding on GroundScan or at hyundaidealerdirect.com. Or, if needed, you can postpone the purchase and return to the Vehicle Details screen, which can be accessed through My Transactions at hyundaidealerdirect.com, to make the purchase at a later time. The following pages illustrate purchasing in the Hyundai Dealer Direct desktop environment. Grounding Dealer 48 Hours Hyundai Dealers 24 Hours Cross-Brand 24 Hours All Dealers 48 Hours Grounding dealership has an up to 48-hour exclusive period to purchase vehicle on hyundaidealerdirect.com or using GroundScan app. 48-hour exclusive period ends, other Hyundai franchised dealers have 24-hour period to purchase vehicle. Next 24-hour period is open to all Hyundai and Kia franchised dealers for purchase of any available Hyundai vehicle. All available lease return units open to all dealers for final 48 hours via ADESA.com. Unsold units will be assigned to physical auction. 10

12 Getting Started on hyundaidealerdirect.com To start, visit hyundaidealerdirect.com using your preferred internet browser. You will be prompted to enter your username and password. Click Log In to enter the secured website. First-Time Visitors If you do not yet have an account, click on Need to Register? to set one up. You will receive your username and temporary password, which you will be prompted to change on your first login. You will also be asked to establish a security question and answer to assist you should you forget your password in the future. If you require assistance please call or hdd@openlane.com. Best Practice Terms & Conditions are displayed upon initial login. Please review before accepting this legally binding document. For security reasons, your account will automatically deactivate after three (3) failed login attempts. First-Time Visitors 11

13 Password Retrieval If you have forgotten your password, select Forgot Username or Password? from the login screen. 1. The next screen will prompt you to input your answer to the retrieval question you set up with your initial login. 2. A confirmation screen will appear notifying you that the password has been reset and to check your address for the response. Forgot Username or Password?

14 Navigate the Homepage After you log in, you will be directed to the homepage, the primary point of access to all system features and functionality. In addition to providing program announcements, key areas of the homepage are highlighted here

15 1. My Transactions: View your purchases and turn-in history on HMF Dealer Direct to review vehicle status and access key documents online. Also click here to report an issue to Customer Service using the online tools. 2. My Account: View and manage your personal information, opt in or out of key notifications, and manage your password. 3. Quick Ground: Access tools to complete key tasks for Vehicle Grounding, Payoff, Lessee Purchases, and Dealer Purchases. 4. Payoff Tool: Access payoff information prior to grounding the vehicle. 5. Buy Now: Access available inventory for purchase, whether exclusive to the originating dealer, or in a closed or open auction. 6. Watchlist: Keep track of all the vehicles you are bidding on or have flagged to watch. 7. Promotions: As Hyundai features special promotions or incentives they will be available and listed in the Promotions field on your homepage. 14

16 Vehicle Payoff Tool The Payoff Tool is available prior to grounding the vehicle, and provides: (1) the payoff quote (customer trade-in or purchase) and (2) dealer purchase quote. Market based pricing may be requested from the vehicle purchase screen. We provide greater detail on each of these options in the Vehicle Purchasing Immediately Post-Grounding section. The quote will be valid until 12:00 p.m. (Pacific) the following day. Any subsequent payoff request will make this quote null and void. HMF dealers are able to ground and purchase a quoted vehicle immediately after the quote request process, using the link at the bottom of the Quote Screen, shown on the following page. Best Practice Be ready for your customers at lease-end. Obtain the payoff quote the evening before or morning of their turn-in appointment. Having the payoff quote ready allows you to educate customers on their lease-end options pre-grounding, without the risk of grounding the vehicle prematurely or the need to dial into our automated system. 1 Requesting a payoff quote is easy. 1. Enter VIN or Account Number. Select Go. The Payoff Quote screen will open and will display the information you entered. 2. Enter Estimated Final Mileage (No Tenths). 3. Check the payoff quote acknowledgment box. 4. Select Continue for payoff quote (see following page). Vehicle payoff quotes are only available on Hyundai Dealer Direct and cannot be acquired through the GroundScan app

17 Payoff Quote The Payoff Quote is displayed and the vehicle has NOT been grounded or sold at this point. 1. A printable version is available by selecting View Printable Version at the bottom of the screen. 2. A dealer can continue to the grounding tool by selecting Grounding And/Or Purchase Vehicle. You will be able to purchase this vehicle after the grounding information has been submitted

18 Vehicle Grounding in the Desktop Environment Hyundai Motor Finance dealers are able to ground a returning vehicle in a few simple steps. Dealers may be offered the opportunity to purchase the vehicle at the end of the turn-in process. You may also ground the vehicle using the GroundScan app, as discussed earlier. Once the vehicle is grounded, the Grounding Dealer Exclusive Period will begin. Grounding dealers will have up to 48 hours (2 auction life cycles) to make a purchase decision before the vehicle(s) are made available to all Hyundai dealers in a closed auction starting at 1:00 p.m. (Pacific) daily. Vehicles grounded before 1:00 p.m. (Pacific) will close the same day at 1:00 p.m. (Pacific) and, if not purchased, will move into their second iteration. Vehicles grounded after 1:00 p.m. (Pacific) will close the next day at 1:00 p.m. (Pacific) and, if not purchased, will move into their second iteration. Vehicle Purchasing is discussed on the pages following the desktop grounding instructions. 1. From the homepage, enter the VIN or Lease Account Number in the Quick Ground window to start the grounding process. 2. If you have confirmed that this is the vehicle you wish to process, select Yes and Continue. 17

19 Vehicle Grounding, cont d. 3. You will be prompted to provide information for the grounded vehicle. Indicate: a. Vehicle Return Date. b. Whether the vehicle is being turned in as part of a Pull Ahead Program. If Yes, enter the program code in the space provided. If No, please see below. c. Number of keys/fobs. d. Number of remotes. e. If your customer will be leasing or purchasing another vehicle. If Yes, enter the replacement VIN in the space provided (if available). a b c d e Best Practice Indicating whether the customer will be leasing or purchasing a new Hyundai allows HMF to determine if a disposition fee will be assessed. Knowing the customer s purchase decision before grounding the vehicle can help you avoid the hassle of ungrounding the vehicle. If No to Pull Ahead Program eligibility, you will need to Confirm that the lessee has been notified of possible Early Termination liability. Best Practice Need help determining whether a customer is eligible for a Pull Ahead program? The Customer Eligibility Tool, available at hmfdealeraccess.com, allows you to know which marketing programs are available to a customer simply by entering key identifiers. Learn more about this great tool in the Managing Lease-End piece in the library of reference materials. 18

20 Vehicle Grounding, cont d. 4. Enter Odometer Information. Please ensure you ve read the mileage disclosure statement. a. You will be asked to input the Final Mileage of the vehicle at time of return. Please confirm in the Re-Enter Mileage space provided. If the values do not match, you will be asked to re-enter the information. b. Complete the Odometer Statement by indicating your knowledge of the odometer reading. c. Continue. a b c 5. Review the grounding information for accuracy and click Complete Return to complete the vehicle grounding. Best Practice Enter the vehicle mileage at turn-in from the odometer. If you receive two (2) keys and two (2) remotes, please be sure to secure them. 19

21 6. Your Return is Complete. a. Print two copies of the Vehicle Return Receipt and obtain the lessee signature on each. b. Fax the signed Odometer (ODO) statement to HMF at c. You may now choose to Purchase Or Request Market Base Price, Ground Another vehicle, or Return To Homepage. If you wish to pass on the vehicle immediately, continue to the purchase screen where you ll be able to select the Decline Purchase option. a b c 20

22 Vehicle Purchasing Immediately Post-Grounding You may choose to purchase a grounded vehicle immediately after it has been grounded. Should you select Purchase Or Request Market Based Price, all purchase options will be shown. Grounding dealers have an exclusive period of up to 48 hours to choose one of the following: Payoff Either lessee trades for a new Hyundai and you acquire the vehicle for your dealership or lessee purchases the vehicle. This stops final billing to the customer and lets us know that the customer has remained loyal. The customer will not receive an End of Term bill. Dealer Purchase You acquire the vehicle for your dealership. Customer turns in vehicle only. The customer will receive an End of Term bill. If you feel that the Gross Payoff price does not reflect the current market price, you may select Market Based Price Purchase. Additional details on this option are provided later. 1. Indicate your payment method and confirm your selection: If you choose Payoff or Dealer Purchase, click the green Confirm Purchase button to continue to payment. If you have selected Market Based Price Purchase as your purchase type, continue by selecting the blue Request Market Base Price button. Once that pricing is available, you will return to the Vehicle Details Page (shown on following page) to continue with your purchase. 2. Select Continue Purchase to confirm your purchase option. 3. You may also select Decline Purchase if you wish to pass on the vehicle. While it is not required to do so, selecting Decline Purchase moves vehicles to auction sooner, which frees up space on your lot Quick Tip Please note, customers also have the option to purchase their leased vehicle ahead of maturity. Purchases made more than 180 days before maturity are handled through customer service. Purchases made 180 days or less to maturity are handled through the Lease-End Servicing Team. Customer purchases made after lease turn-in and grounding must be made through Dealer Direct. 21

23 Vehicle Purchasing from Vehicle Details Page While we encourage you to make your purchase selection at the time of grounding, you have up to 48 hours to make your purchase decision on an off-lease vehicle. To return for a vehicle purchase, whether at payoff or market based price, you will come to the Vehicle Details page. If you wish to pass on the vehicle, you may select the red Decline Purchase button. 1. Find your vehicle. You can do this one of two ways: a. Visit the My Transactions page or b. Search using the VIN, model, or other key vehicle identifiers. 2. Select your desired vehicle to arrive at the Vehicle Details page, which provides a snapshot of all information available for the vehicle. Note the time you have remaining to choose your preferred purchase option. 1a 1b 2 22

24 Vehicle Purchasing From Vehicle Details Page, cont d. You have up to 48 hours from the time the vehicle is grounded to make your purchase decision before the option becomes available to other Hyundai dealers. 1. Selecting Request Market Base Price will generate an notification when pricing is complete. You will have 48 hours from the time the is sent to make your purchase decision. Please note, the customer will be billed for applicable charges and fees when Request Market Based Price is selected. Select OK to continue. 1 Quick Tip Be sure you receive your Market Based Price notifications. Go to My Account, click on the Notifications tab, and verify that the Market Based Price box is checked. Additional information is provided later. 2. When selecting Payoff Purchase Type, a pop-up message will appear confirming the action. a. Please provide the VIN of the new vehicle to continue, if available. b. Select Continue Purchase. 2a 2b 3. Confirmation of Purchase screen will display with the option to Print Vehicle Confirmation of Sale. 3 23

25 Confirmation of Sale Your Confirmation of Sale will include: 1. Buyer Information Purchaser s name, address, and phone number 2. Purchase Information Includes the Purchase Price and Purchase Type 3. Vehicle Information Vehicle identifiers including Type, VIN, Odometer reading, and more 4. Remitting Payment remittance instructions are provided here, including mailing address, if applicable 5. OPENLANE Services Should you request transportation or other services from OPENLANE, you will find information here 6. Title Explains requirements for title delivery

26 Market Based Pricing (MBP) How It Works Requesting MBP at any time during the grounding dealer s exclusive period will place the grounded off-lease vehicle on hold awaiting MBP. As the grounding dealer, you will have visibility to the vehicle under My Transactions, but you will not be able to buy until pricing has been entered by the seller. You will receive an notifying you that the vehicle is no longer on hold and is available for purchase. Your grounding dealer exclusive period will restart, allowing you the maximum amount of time (up to 48 hours) to decide on your purchase. Please be advised that MBP for off-lease vehicles returned ahead of lease maturity and having originated in California or New York may take up to 10 days to process. There is no additional MBP delay on off-lease vehicles which reached maturity and originated in these states. Best Practice Ensure you are set up to receive your MBP notification. 1. Go to My Account. 2. Select Notifications. 3. Ensure Market Based Price is selected. 4. A space is provided should you wish to have others receive the as well. This is also a good time to identify what other notifications you d like to receive

27 Online Auction Once your exclusive period has ended, the vehicle will continue to online auctions, which is discussed in detail in the Online Auction Using Hyundai Dealer Direct section in the library of reference materials. HMF s online auctions ensure off-lease vehicles not acquired by your dealership move off your lot in a timely manner by providing other interested purchasing dealers: An easy-to-navigate site. User-friendly purchase and bidding opportunities. An inventory of used vehicles refreshed daily. Plus, HMF offers a dedicated team to support you with your online purchase activity. Benefit With lower transaction costs, including no buying fees for grounding dealers, purchasing an off-lease vehicle on hyundaidealerdirect.com is more cost-effective than making your purchase through a third-party site or physical auction at a later time. Plus, it gives your used vehicle manager the flexibility to stay focused on in-store activities while minimizing travel expenses. 26

28 Complete financial solutions dedicated to Hyundai dealers. INVESTED IN YOUR SUCCESS Hyundai Motor Finance Issue Date: 12/10/2015