Payment and Financing Terms
Record cash or financing terms beside the buyer, vehicle, taxes, and deal documents.
Use Details > Payment to record how the buyer plans to purchase the vehicle. Keep the entered terms beside the buyer, vehicle, taxes, and documents for an easier review.
DealerSpot records the terms you enter
DealerSpot does not collect payments, approve credit, fund a deal, or service a loan. Enter the terms from your dealership's approved agreement.
Select the purchase method
Open the transaction, select Details, and use the Payment section.
| Method | Use it for |
|---|---|
| Cash | Sale price, cash payment date, and discount |
| Finance Internal | Dealership financing terms and payment schedule |
| Finance External | Outside financing amount, lender, and lienholder information |
Use Cash, Finance Internal, or Finance External for complete payment details.
Lease details are not available in the main Payment section
A quick-edit area may show Lease, but DealerSpot does not provide fields for mileage, residual, return, or buyout terms.
Cash purchases
For Cash, record:
- Sale price
- Cash payment amount
- Cash payment date
- Discount, when needed
DealerSpot records these values but does not confirm that payment was received.
Internal financing
For Finance Internal, enter the terms from the approved agreement:
| Field | What to enter |
|---|---|
| Total Amount Financed | Amount financed |
| Down Payment | Upfront payment |
| APR | Approved rate |
| Finance Charge | Total finance charge |
| Number of Payments | Number of scheduled payments |
| Payment Amount | Regular payment amount |
| Payment Frequency | Weekly, Bi-weekly, or Monthly |
| First Payment Date | First due date |
| Final Payment Amount | Different final amount, when needed |
| Late Charge Days | Grace-period days |
| Late Charge Per Day | Daily late charge |
Some additional terms appear in the quick-edit area. DealerSpot does not calculate one field from another, so enter and check each value.
External financing
For Finance External, record:
- Sale price
- Total amount financed
- Discount
- External lender name
- Primary lienholder name, date, and address
- Optional second lienholder name and address
The lender and lienholder may be the same company. Enter both fields when the final documents call for them.
Lien details
The Lien section appears for financed transactions. It supports:
- Primary lienholder name
- Lien date
- Primary lienholder address
- Second-lienholder toggle
- Second lienholder name and address
Lien information can appear on available forms. Check it before creating documents.
Other amounts on the transaction
You can also enter warranty cost, GAP cost, VSI fee, and warranty terms. These amounts do not automatically change the displayed total or amount financed.
Check the displayed total
The displayed transaction total includes sale price, fees, tax, discount, and an active trade-in allowance. It does not include every financing field. For example, it does not subtract the down payment or add the finance charge, trade-in payoff, warranty cost, GAP cost, or VSI fee.
Compare the financing section with the approved agreement in your dealership's private files.
A reliable recording workflow
- Select the correct purchase method.
- Enter the sale price and any discount.
- Enter only terms from the approved cash or financing agreement.
- Add lender and lienholder details when needed.
- Review taxes and fees separately.
- Compare every entered value with the final agreement.
- Create the needed documents, then review them.
- Complete the transaction only after your dealership's own approval and funding checks.
Reopen the deal before correcting payment terms
Complete prevents changes to many payment fields, but a few quick-edit fields may still appear available. Change the deal back to Pending before making a correction, then review it again.