Business Processes

Pull-ahead Lease

Credit Bureau Extract Metro 2 Format users.

When client is has the opportunity to upgrade to a new/different vehicle with a new lease prior to the maturity date of their existing lease.

LeasePak Updates/Processes

• U0239 Credit Bureau Lease/API
• U0709 Activity Status/Substatus
• U0722 Custom Code
• U0462 Credit Bureau Extract

Relevant LeasePak Interface Fields

• U0239 Credit Bureau Lease/API
  • "Asset(s) Return Date"
  • "Activity Substatus"
  • "Special Comment Code"
• U0709 Activity Status/Substatus
  • "Activity Status"
  • "Activity Substatus"
  • "Account Status"
  • "Processing Task"
• U0722 Custom Code
  • "Code Category"
  • "Code Value"
  • "Code Description"

Process Overview

Except for special reporting of SMPA and Account Status that the User sets up through U0709 Activity Status/Substatus, LP reports pull-ahead leases the same as full termination leases.

When the User:

• Creates an "Activity Substatus" for pull-ahead leases through U0722 Custom Code
• Sets up reporting rules for pull-ahead leases
• Enters a "Asset(s) Return Date" that is within the tolerance for full termination and sets "Activity Substatus" to the pull-ahead status

LP will set Special Comment Code to BB and begin reporting SMPA as 0 and Account Status as 11 (Account Status, in turn, determines reporting of PHP and Amount Past Due).

During termination, U0103 Payoff will default SCC BC or BD, depending on whether or not there is open AR. The User can override this through U0239 Credit Bureau Lease. After termination, the LeasePak activity status will be 'NC**' or 'NP**'. SMPA will be 0 and Account Status, Amount Past Due, and Current Balance will be reported as normal.

Each time U0462 Credit Bureau Extract runs, if SCC is BB or BD, the program will check to see if the activity status is 'NP**' or 'NC**' and if there is any open AR. If no open AR and the lease is paid off, then SCC will be updated to BC.

Refer to the process for full termination for an explanation of relevant SCC codes.

LeasePak User Process

To set up special reporting of SMPA and Account status:

• Use U0722 Custom Code to create a new code for "Code Category" 'ACTSUBSTAT' (Activity Substatus). For example:
  • "Code Value" 'PULA', "Code Description" 'Pull-ahead lease'
• Use U0709 Activity Status/Substatus to create one or more "Activity Status"/"Activity Substatus" combinations, matching likely (according to your business practices) 'A***' active statuses to substatus 'PULA'. For example:
  • Match 'ANOR' (Active Normal) to 'PULA'
• For each combination, set the following:
  • "Account Status" to 11
  • And "Processing task":
    • Report Scheduled Monthly Payment Amount to CB as zero

Use interactive U0239 Credit Bureau Lease or third-party interface via API to begin reporting a pull-ahead lease:

• Enter "Asset(s) Return Date"
• Set "Activity Substatus" to 'PULA'

Refer to the process for full termination for steps to process a termination or payoff of a pull-ahead lease.