Vehicle Buyback Process Overview

This comprehensive guide outlines the step-by-step process required to successfully navigate through a Vehicle Buyback Agreement. It details the four critical status groupings within the process:

• Estimates

• Quoting

• Complete

• Closed

TIP: Status Groups are filter options on the homepage dashboard that you can use to view Vehicle Buyback Agreements at each stage.

TIP: Only users with ‘Submit Agreement’ permissions can manage tasks in the ‘Quoting’ and ‘Complete’ phases.

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Estimates

The ‘Estimate’ status marks the beginning of the Vehicle Buyback Agreement, involving the input of essential parameters to calculate the buyback amount and associated costs.

TIP: Typically managed by sales managers, estimates can be created to support sales opportunities, requiring no more than a few minutes to create.

Users with ‘Submit Agreement’ permissions will have the option to send estimate emails to the customers directly from the system.

Quoting

Only users with ‘Submit Agreement’ permissions will have access to the 'Review & Finalise' tab within an agreement, where the quoting activities are conducted.

Quoting status' include:

Quote Ready

Input of the financial and vehicle details activates the ‘Calculate Quote Price’ button. Successful calculation progresses the agreement to the ‘Quote Ready’ status. At this stage, the ‘Send Final Quote’ button becomes active.

Quoted

Clicking the 'Send Final Quote' button will move an agreement into the 'Quoted' status. This action started a customer process, where they are asked to either accept or reject the quote. It's crucial to note that once sent, quotes are final. Any subsequent changes necessitate a new agreement.

TIP: If you don't want to finalise the agreement by sending a final quote, you may choose to send an estimate instead.

Quote Accepted

Customer acceptance of the quote via the landing page changes the agreement status to ‘Quote Accepted’.

Complete

Agreements that reach the ‘Quote Accepted’ status can be finalised only by users with ‘Submit Agreement’ permissions. This involves setting a settlement date, confirming the agreement details and clicking 'Complete' on the agreement.

Closed

Vehicle Buyback Agreements can be assigned under 'Closed' with the following status':

Quote Rejected

If the customer rejects their final quote, the agreement status is set to 'Quote Rejected'.

Quote Lapsed

If the quote is neither accepted nor rejected by the customer before its expiry date, it automatically lapses, shifting to ‘Quote Lapsed’ status.

Archived

From the homepage dashboard, a Vehicle Buyback Agreement can be archived by clicking the below icon.