5 important features of Auto Finance Software you must know about

Who likes calculating interest and finding the final amount payable, and who likes keeping the record of how much more is to be extracted from the loaner or where the loan liability stands… perhaps, these two most dreaded calculations can stop many people from finding a job in auto finance company. But, here comes the breather! You can easily give this job of making such killing calculations to a software… yes, it is true, a software! Popularly known as Auto Finance Software, this support system has become the lifeline of vehicle financing companies and has made the job of financing the cars, two-wheelers etc quite easy and less time taking.

So, what is the Auto Finance Software all about? Well, this software is an automated system installed in all the computer systems and other synced devices of the auto finance company. It serves multifarious purposes like:

• Calculating the installment amount: You just need to input the figures such as Purchase value of the vehicle, term of loan, income figure, etc and the software will do the job of calculating the installment amount. So, if you are working as an executive and want to tell your client the details about the loan installment, you can do it simply by logging on to this support software on your laptop or mobile phone.
• Finding market value of the used vehicles: Auto finance company deals in both the new and used vehicles. So, if you want to know the market value of the used vehicle you are purchasing and the amount of loan it may require, the Auto Finance Software can help you find the details better.
• Sending SMS to the customers whose installment is due: There are certain value added services integrated to the auto financing software. This tracker software can send the alerts through integrated bulk messaging system to the loaners whose installment is due. You can group the borrowers as per their installment date and set the time and date of sending message to them.
• Storing documents of the vehicles: You need not waste paper in managing mammoth data files for maintaining records of the borrowers and the vehicles. All the documents can be stored using software and a unique reference code is generated for every customer. This helps in issuing documents like NOC etc in no time to the customers who need it.
• Generates list of defaulters: You get the correct list of defaulters who don’t pay installment on time. The Auto Finance Software keeps the records of such borrowers and helps you generate reminders seamlessly.