For a Video Tutorial on this Topic, see Adding a Wrap Contract to a Deal.
Overview
This tutorial explains how to add a wrap contract to a deal in CareGARDWarranty.com (CGW).
Most manufacturers provide extended Powertrain warranties for their vehicles that cover only the essential components necessary to provide propulsion. These have traditionally been the most expensive parts to repair or replace. Now, however, many components that are not covered under the Powertrain warranty can be just as expensive but will cost your customers out-of-pocket.
To protect customers from these kinds of out-of-pocket expenses, some Third Party Administrators (TPAs) offer wrap contracts that complement the Powertrain coverage provided by a manufacturer. These wrap contracts are designed to “wrap around” the manufacturer’s Powertrain Warranty by providing coverage for many components that are not otherwise covered. Wrap contracts are also available for vehicles sold under most Manufacturers’ Certified Pre-Owned (CPO) vehicle programs to compliment the underlying CPO warranty coverage.
Getting Started
To add a wrap to a deal, you must first create a new deal.For more information on deals, see these tutorials:
- Deals > New Deals
- Deals > Pending Deals
- Deals > Recent Unpaid Deals
- Select Deals > New Deal from the left navigation menu.
- Select the New Deal quick button at the top of the Dashboard.
Starting a New Deal
2. In the Start a New Deal dialog, you will begin the process of creating a new deal:
| Item | Description |
| Deal # | Enter the deal number. This is the number the dealership uses to track the deal internally. |
| DMS Producer # | Enter the Dealer Management System (DMS) producer number. DMS examples include Reynolds & Reynolds and Dealertrack Technologies. This will allow you to pull in your DMS information for this deal, rather than entering the information manually in CGW. |
| Sales Type | Select the sales type. Your choices are Consumer or Commercial. |
| Manual Entry | If you are unable to pull in information from the DMS, click this button to manually enter Vehicle, Customer, and Deal information in the New Deal Entry dialog. Note: For the purposes of this tutorial, click the Manual Entry button. |
| Submit | If you are pulling DMS information, click this button to run the DMS pull. If successful, the New Deal Entry dialog will be populated with Vehicle, Customer, and Deal information. |
3. The New Deal Entry dialog contains three panels:
| Item | Description |
| The Vehicle | Allows you to enter details relating to the vehicle |
| The Customer | Allows you to enter details relating to the customer |
| The Deal | Allows you to enter details relating to the deal |
Note: Using the PullDMS button in the top-right corner of the New Deal Entry dialog, you can pull in information from a Dealer Management System (DMS) if your dealership uses one. For the purposes of this tutorial, we will enter information manually instead.
The Vehicle
In this panel, you enter details about the vehicle that is part of your deal. Not all fields are required in this panel, but you will have to enter all of the information before finalizing the deal. We recommend taking the time to fill everything out at this time.
| Item | Description | Required |
| Producer | This is you. Your administrator should have set you up in the system as a producer. | No |
| Vehicle Purchase | The date of vehicle purchase | No |
| In-Service | The date when the original car warranty started on the vehicle when it was first purchased as a new vehicle | No |
| VIN | The vehicle’s Vehicle Identification Number | Yes |
| Mileage | The vehicle’s mileage | Yes |
| Sales Type | Select the sales type. Your choices are:
|
No |
| Vehicle Type | Select the vehicle type. Your choices are:
|
No |
| Deal Type | Select the deal type. Your choices are:
|
No |
The Vehicle
The Customer
In this panel, you enter customer-related details. Not all fields are required in this panel, but you will have to enter all of the information before finalizing the deal. We recommend taking the time to fill everything out at this time.
| Item | Description |
Required |
| First Name | Customer first name | Yes |
| Last Name | Customer last name | Yes |
| Customer email address | No | |
| Daytime Phone | Customer daytime phone number | No |
| Evening Phone | Customer evening phone number | No |
| Cell Phone | Customer cell phone number | No |
| Address and Address 2 |
Customer street or mailing address | Yes |
| City | Customer city | Yes |
| State | Customer state | Yes |
| p | Customer zip code | Yes |
| County | Customer county of residence | No |
| Add Co-Buyer | Select this to add a co-buyer for this vehicle | No |
The Customer
In this panel, you enter details about the deal. Not all fields are required in this panel, but you will have to enter all of the information before finalizing the deal. We recommend taking the time to fill everything out at this time.
| Item | Description | Required |
| Deal # | The number your dealership uses to track this deal | No |
| Stock # | The number your dealership uses to track this vehicle | No |
| MSRP | Manufacturer’s Suggested Retail Price | No |
| Fixed Reserves | The fee that the lender pays to the dealer. A fixed reserve is a straight dollar amount fee. An example would be that the lender pays the dealer $500 for every loan the dealer does with them. | No |
| Salesperson | Salesperson making the deal | No |
| Sales Manager | Sales manager in charge of the deal | No |
| Contract Purchased | Date of the sales contract | No |
| Sales Price | Sales price of the vehicle | Yes |
| Net Price | Price of vehicle before taxes and fees | No |
| Rebates | Amount of sales rebates | No |
| Tax/Title/Lic | Amount of tax, title, and license on vehicle | No |
| Lender | Select a lender for this deal or click + icon to add a new lender. If the customer is paying cash for the vehicle, select the None (Cash) option in this menu. | Yes |
| Down Payment | Amount the customer is paying today on the vehicle | No |
| Doc Fees | Amount of dealership fees added to the purchase price | No |
| Net Trade (1) Net Trade (2) |
Amount of the customer’s trade-in vehicle. Two fields are provided in case the customer trades in two vehicles. | No |
| Other | Miscellaneous charges | No |
| Total | This is auto-populated based on previous entries. | N/A |
| Term | The financing term in months. For example, 60 months for a five-year financing period. Two fields are provided in case there are two loans on this deal. | Yes |
| APR | Annual Percentage Rate. Two fields are provided in case there are two loans on this deal. | No |
| Buy | The Buy Rate. This is the interest rate the lender charges the dealer for a loan. The dealer can then sell the loan to the customer for the same or a higher rate. This rate is called the Contract Rate. The lender pays the dealer a fee based on the difference of the two rates. For example, the lenders buy rate to the dealer is 10%. The dealer then charges the customer 12% (the Contract Rate) for the loan. When the loan is funded to the dealer the lender will pay an additional fee amount based on the 2%. Two fields are provided in case there are two loans on this deal. |
No |
The Deal
Note: Depending on the way your dealership is set up, you might encounter the Lifetime Powertrain Warranty dialog at this point. If so, see the "Adding a Limited Warranty to a Deal" tutorial for more information.
Adding a Wrap Contract to a Deal
When you have finished entering the Vehicle, Customer, and Deal information in the New Deal Entry dialog, click the Continue button at the bottom of the dialog.
The following dialog appears where you will indicate if the vehicle involved in this deal has a lifetime Powertrain warranty attached to it by clicking Yes or No.
Add a Dealer Certified Wrap to a Vehicle Service Contract
If you clicked the Yes button in the Lifetime Powertrain Warranty dialog, follow these steps to add a dealer certified wrap to the Vehicle Service Contract (VSC):
1. In the Create a Menu dialog, select an F&I product package, such as Platinum, Gold, Silver, or Custom, for your customer by clicking the check box next to the desired product package.
Note: For the purposes of this tutorial, select the Platinum package.
Product Packages
2. Click the Edit button next to the VSC product line item under the Platinum product package.
3. In the Dealer Certified Wraps panel, you can make several product selections:
| Item | Description |
| Term | Select the term for the Dealer Certified Wrap, such as:
|
| Contract Number | You have two choices:
|
| Complete Wrap | Select this option to add the Dealer Certified Wrap to the VSC. By default, the Luxury Packageis included with this option. |
| Reducing Deductible | Select this option to reduce the customer’s deductible, but note that the monthly payment will be increased if you select this option. |
| Commercial Use | Select this option if the vehicle will be used for commercial purposes. |
| Luxury Package | Select this option to add the luxury package to the Dealer Certified Wrap. Note that this option is selected by default when you select the Complete Wrap option. The Luxury Package option provides for the factory-installed GPS Navigation System (not including programming or updates), TV, VCR, and DVD players, Key Fobs, Bluetooth Devices, and Onstar® Unit. |
| Emission Coverage | Select this option to add extra coverage for the vehicle’s emission control components. An additional surcharge is added for this option. |
Dealer Certified Wrap Panel
4. When you have made your Dealer Certified Wrap selections, scroll down part of the way in the dialog and click the Save Changes button. (The button is about halfway down the dialog.)
5. Click the Deliver Deal button at the bottom of the Create a Menu dialog.
6. The Deal Details dialog opens where you can make several selections:
| Item | Description |
| Monthly Payment | The system-generated monthly payment is selected by default. If you need to adjust the payment, select Other Monthly Payment and enter the new amount. |
| Amount Financed | The system-generated amount financed is selected by default. If you need to adjust this amount, select Other Amount Financed and enter the new amount. |
| Cancel | Click this button to cancel out your changes. |
| Continue | Click this button to continue to the next dialog. |
Note: Depending on the way your dealership is set up, you might encounter the Add a Limited Warranty dialog at this point. If so, see the “Adding a Limited Warranty” tutorial for more information.
7. CGW displays the final customer paperwork for this deal in the Print Preview dialog. You can view it or print for the customer’s signature.
Note: For Dealer Certified Wrap coverage details, please see the paperwork in the Print Preview dialog.
Final Paperwork
Add a Factory Certified Wrap to a Vehicle Service Contract
If you clicked the No button in the Lifetime Powertrain Warranty dialog and the vehicle's mileages is over 1500 miles, CGW displays the Certification Check dialog:
Click Yes or No to indicate whether or not this a factory certified vehicle. If you click Yes, follow these steps to add a Factory Certified Wrap to the Vehicle Service Contract (VSC):
1. In the Create a Menu dialog, select an F&I product package, such as Platinum, Gold, Silver, or Custom, for your customer by clicking the check box next to the desired product package.
Note: For the purposes of this tutorial, select the Platinum package.
2. Click the Edit button next to the VSC product line item under the Platinum product package.
3. In the Factory Certified Wraps panel, you can make several product selections:
| Item | Description |
| Term | Select the term for the Factory Certified Wrap, such as:
|
| Contract Number | You have two choices:
|
| Complete Wrap | Select this option to add the Factory Certified Wrap to the VSC. By default, the Luxury Package is included with this option. |
| Reducing Deductible | Select this option to reduce the customer’s deductible, but note that the monthly payment will be increased if you select this option. |
| Commercial Use | Select this option if the vehicle will be used for commercial purposes. |
| Luxury Package | Select this option to add the luxury package to the Dealer Certified Wrap. Note that this option is selected by default when you select the Complete Wrap option. The Luxury Package option provides for the factory-installed GPS Navigation System (not including programming or updates), TV, VCR, and DVD players, Key Fobs, Bluetooth Devices, and Onstar® Unit. |
| Emission Coverage | Select this option to add extra coverage for the vehicle’s emission control components. An additional surcharge is added for this option. |
Factory Certified Wrap Panel
4. When you have made your Factory Certified Wrap selections, scroll down part of the way in the dialog and click the Save Changes button. (The button is about halfway down the dialog.)
5. Click the Deliver Deal button at the bottom of the Create a Menu dialog.
6. The Deal Details dialog opens where you can make several selections:
| Item | Description |
| In-service Date | Select the in-service date. This is the factory certified date. The date must be at least 90 days prior to today’s date. |
|
Monthly Payment |
The system-generated monthly payment is selected by default. If you need to adjust the payment, select Other Monthly Payment and enter the new amount. |
| Amount Financed | The system-generated amount financed is selected by default. If you need to adjust this amount, select Other Amount Financed and enter the new amount. |
| Cancel | Click this button to cancel your changes. |
| Continue | Click this button to continue to the next dialog. |
Deal Details
7. A warning appears as a reminder that you must attach a copy of the factory certification to the paperwork for this deal. Click the Continue button.
Note: Depending on the way your dealership is set up, you might encounter the Add a Limited Warranty dialog at this point. If so, please see the “Adding a Limited Warranty” tutorial for more information.
8. CGW displays the final customer paperwork for this deal in the Print Preview dialog. You can view it or print for the customer’s signature.
Note: For Factory Certified Wrap coverage details, please see the paperwork in the Print Preview dialog.
