Estimate- Adjustable Financing Line Item
Adjustable Financing Line Item
Goal: Provide a transparent and flexible way to incorporate financing fees into estimates while safeguarding profit margins.
Solution: Add a second total line item named "Financing Fee (Optional)" on the estimate page. Users can:
Name: Customize the label based on their preferred terminology (e.g., "Loan Origination Fee", "Processing Fee").
Adjust: Choose between two adjustment methods:
Percentage: Enter a percentage to automatically calculate the fee based on the base total.
Numerical Value: Manually input a specific dollar amount for the fee.
Transparency: Include a tooltip or brief explanation next to the line item detailing what the fee covers and how it's calculated.
Benefits:
Flexibility: Users can tailor the fee to different financing options and customer needs.
Transparency: Customers clearly see the impact of financing on the overall cost.
Profit Protection: Users avoid discounting base cost to account for potential financing fees.
Decision-Making: Customers can compare total cost with and without financing for informed choices.
Additional Considerations:
Pre-set options: Offer common percentage ranges or fee amounts as dropdown options.
Visibility toggle: Allow users to hide the line item if financing is not discussed.
Integration: Connect the fee calculation to financing partners for dynamic updates.
Turner Witt
shared this idea
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Travis Witt commented
We need it!
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Jacob Witt commented
Lets do this! Please!