Dealer Reserve

Banks will sometimes use auto dealers as intermediaries to acquire customers in need of financing. Dealer Reserve refers to an amount given as a commission or payment to a dealer or other indirect loan source as compensation for generating the loan.

Sample Request

The following is a sample request for a dealer reserve calculation:

<inDEALER_RESERVE Account="1" AccrualCode="201" 
    DataDirPath="C:\Work\WinLoan32\compile\"
    Method="DifferenceInRates" PPY="12">
    <LoanDate>2003-06-06</LoanDate>
    <PmtDate>2003-07-06</PmtDate>
    <Term>36</Term>
    <AmtFin>10000.00</AmtFin>
    <Payment>322.67</Payment>
    <Final>322.67</Final>
    <FinChg>0.00</FinChg>
    <ProcFee>25</ProcFee>
    <BuyRate>8.000</BuyRate>
    <NoteRate>10.000</NoteRate>
    <ReservePercent>95.000</ReservePercent>
    <FlatFee>0.0</FlatFee>
</inDEALER_RESERVE>

Sample Response

The following is a sample response generated by the previous sample request:

<?xml version="1.0" standalone="no" ?>
<!DOCTYPE outACCOUNT SYSTEM "outACCOUNT.dtd" >
<outDEALER_RESERVE>
    <Results>
        <Description>Successful Calculation</Description>
    </Results>
    <GrossReserve>1000.00</GrossReserve>
    <DealerReserve FlatFeeUsed="false">800.00</DealerReserve>
    <BankReserve>200.00</BankReserve>
    <RegZAPR APRCheck="pass">10.021</RegZAPR>
</outDEALER_RESERVE>