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MSP is the leading Lease Here Pay Here software solution developed specifically to meet the needs of Lease Here Pay Here dealerships.
If you are currently running a Buy Here Pay Here business and are contemplating doing Leases please read our discussion on the advantages and disadvantages of Lease Here Pay Here.
MSP will allow your dealership to create more flexible and profitable payment plans, dramatically improve your collection performance, and automate many of the administrative burdens that slow your dealerships down.
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With MSP you get everything you need to manage and improve your business in one easy to use package. MSP is also scalable to meet the needs of single lot dealerships to large multiple store organizations. In Addition, MSP provides you all the tools to manage car lots with related finance companies or stand alone finance companies. MSP is also equipped to handle leasing.
Enhanced security features are found throughout MSP, to give you the piece of mind of knowing that your money is safe and that your customers are being maintained as needed.
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Explore the product tabs to learn how MSP is the right tool for your Lease Here Pay Here Dealership or watch the three minute product tour.
Screenshots:
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Stay in complete control of your unsold and sold vehicles using MSP’s all-inclusive inventory module….
- VIN Decoder – obtain and verify accurate vehicle information in seconds
- Post expenses and repairs to know your true cost/profit on each vehicle
- Smart type capabilities to save time in data entry
- Effortlessly upload and update your inventory onto your website or to Auto Trader
- FTC Buyers Guides & Window Stickers can be printed to keep you in compliance and display vehicle/financing information for prospective customers
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MSP’s Sales module takes the hassle out of selling cars by automating the entire sales process. MSP is flexible enough to support cash, wholesale, Lease Here Pay Here and outside lender sales. - Quickly calculate payment plan options (including insurance and warranties)
- Integration with Google Maps allows you to see exactly where the customer lives in relation to your dealership and the address provided
- Reverse Phone Lookup verifies that the number the customer has given you is, in fact, where they reside
- Conveniently pull credit bureau reports
- Ensure you’re in compliance with the integrated SDN list from OFAC
- Easy to read Washout screen displays an amortization grid, disclosure information, income, expenses and profits
- Supports outside of the box financing calculations, such as balloon payments, deferred down and Special Payments
- Calculates Rule of 78 or Simple Interest
- Creates and tracks multiple payment streams such as side notes, deferred down payments or irregular payments
- Produce flexible payments schedules; weekly, bi-weekly, semi-monthly or monthly. Get paid when your customer does
- Easily Rollback the payment by adjusting one of many different variables in order to achieve a desired and affordable payment for the customer to help ensure that payments will be made in a timely manner
- Using MSP’s comprehensive Form Packs, you can be confident that all forms and contracts needed for all sales will be printed. Our laser form capabilities will speed up the delivery process and allow the dealer to acquire all the forms and contracts needed from only 1 place, within the software itself.
Screenshots: Click image to open. Click the (x) button to close.  |  | | | | Sales Screen | Buyer Detail Screen | | |
MSP’s robust collections module improves your collections process from start to finish so you can dramatically reduce your delinquency rates.
MSP’s robust collections module improves your collections process from start to finish so you can dramatically reduce your delinquency rates.
- Maintain a single source for tracking delinquency, recency, and aging for all your payment streams.
- Find customers fast using “smart type” – by last name, first name, SSN, stock number or status.
- Customize your account screen to see only the accounts that you want to see to speed up the collection process.
- Integration with Google Maps allows you to see exactly where the customer lives in relation to your dealership for the purpose of collection visits or repossession.
- Intuitive electronic ledger card allows you to see the entire history on an account. You can also drill down within the ledger card to the information relevant to you.
- Computer generated receipts provide customers with necessary information regarding their account.
- MSP provides the option of running collection from a separate, related finance company.
- Keep an audit trail of your customers from the sale, to the termination or completion of lease, all the way to the resale of that vehicle.
- Rewriting/refinancing the account can be done without having to reenter the customer, vehicle or contract information.
- Integrations with the 3 major starter interrupt devices helps reduce delinquency. It also eliminates the need to go outside the program and eliminates the need to double-enter necessary information.
- As your business grows, use the Collector Queue to assign multiple accounts to your collectors filtered by; account number, delinquency age, alphabetically by name or sale date where certain reports can be run according to the collector
- Always stay in balance by using MSP’s Cash Drawer Module so you catch any discrepancies right away.
- Easily process credit card, debit card, check and ACH payments using our payment gateway.
Constellation’s AutoPay is an integrated solution that allows dealers to collect payment from their customers through Credit Card and ACH (direct withdrawal from your customer’s bank account) and record payment in MSP with one easy step.
Screenshots:
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| Refinancing Screen |
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MSP allows you to offer Lease-Here Pay-Here to your customers.
MSP Software can help you successfully run a Lease Here Pay Here dealership. MSP is:
- Fully compliant with government lease regulations.
- Fully compliant with all county, state and federal tax regulations.
Why do Lease Here Pay Here?The primary difference with leasing compared to traditional financing is that the title remains in the dealership’s name instead of the customer’s. This provides a number of benefits:
- Dealerships can defer taxes because they can depreciate their inventory.
- Repossessions are made much easier in most States.
- In the event of a customer declaring bankruptcy it is far easier for the dealership to retrieve their car.
- Sales tax expense for the car dealership is reduced in most states. When a car is financed all the sales tax is remitted upfront and paid in full even if the customer ultimately defaults. When a car is leased sales tax is remitted gradually over the course of the lease. If the customer defaults the dealer stops paying sales tax.
The other key difference between financing and leasing is that with leasing there is a residual value on the car and the end of the lease term. This also offers a number of benefits:
- It can make it easier to sell the car because the customer can get more car for a lower monthly payment.
- This will make renewing customers at the end of their term much easier. When a car is financed the customer owns the car outright at the end of the term. When a car is leased the customer has a residual to pay at the end of term. Most often they will opt to either extend the lease or to return the car and lease a new vehicle.
- Customers opting to return cars at the end of their lease helps keep a dealership stocked with inventory. This is very helpful in a time where inventory is difficult to find.
There are 2 main disadvantages to Leasing:
- In some states because the title remains in the dealership’s name the dealership is vicariously liable should the customer allow their insurance to lapse and then get in an accident. In states with such vicarious liability a prudent dealer would need to carry “contingent” or “excess” liability insurance.
- Because there is a residual value remaining at the end of a lease term, monthly payments are smaller compared to financing. As a result it takes longer for dealers to get their money back on a car.
Call us today to answer any questions or help you get set-up.
See Lease Here Pay Here Reports
Screenshots:
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| Leasing Screen |
MSP comes with over 50 standard reports. You can also customize an unlimited number of reports using the custom report generator.
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- Payment Schedule Report: Accurately track scheduled payment, Interest, Base Tax and number of scheduled payments. Report belongs to those that want to keep on top of their accounts and to see which direction their accounts are heading. Need to know if your average lease terms are extended too much? This report is for you.
 View Sample Report
- Lease Payment Report: View the breakdown on collected payments, payment types, taxes, and fees. Report tracks monies received and the breakout of those payments. Lease Payment is vital to payable tax reporting and necessary for your general accounting.
View Sample Report
- Lease Receivables Report: See the breakdown of your account receivables in one easy to read report. Basically the report allows you to see the breakout of your current lease receivables; principal, interest, tax, residual and security deposits.
View Sample Report
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- Bank Deposit Report: Outlines detailed information regarding all monies that go into the dealership and also all monies that are paid out of the dealership. The details range from payments, deferred payments, down payments, deposits, reversed payments, miscellaneous pay-ins and pay-outs, deleted payments and recovered losses. An audit trail is readily available at your fingertips.
View Sample Report
- P&L Report: Know your true profit, or loss, on each sale including wholesale sales. Also, you can view the costs associated with each sale. Keep track of charged-off accounts and any recovered losses pertaining to those vehicles that were charged-off.
View Sample Report
- Business Summary: Provides detailed information, for a specific date range, on vehicles that were sold or updated. From vehicle information, costs, gross, rate of return, customer info, contract schedule, posted expenses and more.
View Sample Report
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- Inventory Price Sheet: provides you with vehicle information such as Stock #, year, make, model, VIN, down payment, price and more from unsold, pending repos, pending trades, etc.
View Sample Report
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- A/R Report: See a breakdown of principal, interest, late charges and balances for all of your accounts. You are able to view who owes you money, how much they owe and the frequency of their payment schedule.
View Sample Report
- Delinquency Reports: 3 types of delinquency reports so you can determine, at a glance, who is due that day and those that are delinquent.
View Aged Deliquency Sample Report
View Long Delinquency Sample Report
View Short Delinquency Sample Report
- Recency Report: For those customers who are late, however, but are still making consistent payments. Helps keep track of those customers that are delinquent but paying “something” on a regular basis. This will help identify customers who should not be called for collection purposes due to appointments or some other arrangement made by the manager at the dealership.
View Sample Report
- Static Pool Report: Track the performance of a specific group of sales for a specified time period. Identify active, repossessed, charge-off, etc. at a glance. If a sale occurred during a specific time period, you have the ability of seeing if that sale was worthwhile or not based on the information this report provides.
View Sample Report
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Enhance your MSP system with several valuable add on modules:
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AUTOPAY
Constellation’s AutoPay is an integrated solution that allows dealers to collect payment from their customers through Credit Card and ACH (direct withdrawal from your customer’s bank account) and record payment in MSP with one easy step.
Already using merchant services?
- Eliminate Double Entry & Reduce Errors: Record a payment once and it will automatically update MSP. Similarly, if the payment is declined in MSP it will also be updated. Cut down on the time and the potential errors of double entry and working with two systems!
- Save Time:
- With one click you can charge a customer from a card you already have on file.
- You have the option to set up batches to have multiple customers charged at one time. Have MSP automatically updated with customers whose payments were successfully received and those who had their payment declined. Imagine the time saved from automating half your collection effort!
- Save Money: Cost wise we guarantee to match or do better than your existing merchant service pricing plus with us it’s integrated into MSP.
New to merchant services? Start improving your collections today
- Improve service: By offering your customers the option to pay by credit card or ACH in person or over the phone.
- Save Time: Enjoy the option of processing hundreds of payments in a matter of minutes with batch processing
- Get the Money Before its Gone: If you customer has any money at their disposal in their bank account or credit remaining on their credit card you get it first.
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Reports credit history/information back to Equifax, Experian and/or Trans Union, so you can attract better customers who care about their credit, and add another incentive to pay on time.
- Eliminate double-entry of account information. Your customer’s information is submitted to the credit bureau directly from MSP
- Accounts can be reviewed in the program so that changes can be made before the report is generated
- You have the option to NOT report any single or group of customers or to simply report one customer
- You also have the option to verify what is on the generated report and to check for any errors that may cause a Credit Bureau to reject a report
- Simply upload the information to the reporting agencies websites. The generated file is compliant with the Metro 2 format accepted by all 3 major Credit Bureaus.
- Use credit reporting as a sales aide – sell more cars when your customers know they can establish or reestablish a good credit rating
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 Print all of your sales documents, contracts and forms on plain paper using a laser printer.
- Print all forms in a single print job
- Eliminate the need for forms alignment
- Provide a professional presentation to your customers
- Save money on pre-printed forms and shipping costs
- Reprint corrections at no additional cost
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 Protect your data. Automatically copies data from your computers to our servers in an off-site, secure facility on a daily basis.
- Automatic back up of your data to an off-site location where the information is kept safe on redundant servers
- Backups are done after-hours with no disruption to your day
- Backups are monitored to ensure successful recovery
- Up to 2 GB of information can be saved – you can include more than just your DMS data (Excel, Word, Photos, etc.)
- In the event of a partial or complete loss, we can restore your data from the previous day immediately to any computer
- You do not need to hassle with doing your own backups
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 Our CRM Module provides a full range of tools to help manage your prospects and sold customers.
- When greeting the prospective customer, all of their pertinent information can be placed in Traffic Management. Once the decision is made to buy the car, the prospect is sent to MAP or VCAT for processing without any double-entry
- Filters help identify certain prospects fast
- Keep track of how your customers have heard about you to better utilize marketing budgets
- Inventory can be viewed right out of your CRM tool
- Follow up on prospects till they ‘Buy or Die’
- Reports:
- Model Analysis – determine which salesperson needs help with which product – basically comparing last month and current month grouped by salesperson and model of vehicle
- Ups Summary – salespersons’ productivity and efficiency
- Closing Report – salespersons’ results on deals that were closed whether “By Type” or “By Source”
- Overview Report – total summary for each salesperson with their productivity and efficiency numbers along with a list of prospects during the selected time frame
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MSP also integrates with several leading industry tools:
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Pull credit bureau reports through Equifax, Experian and/or TransUnion - Once a credit report is pulled, it will stay with that account indefinitely until another report is pulled
- Quickly assess the customers history for better decisions regarding an extension of financing
- Verify the information that was provided on the credit application
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 Always stay in compliance by utilizing the integrated SDN list from OFAC (Office of Foreign Asset Control)– the published list of individuals, groups and entities that it is illegal to do business with.
Being integrated, it automatically checks against the national list – saving you time instead of looking through over 10,000 different names, aliases, etc.
- Our list is kept updated whenever OFAC releases an update – many times, twice per week
- Keeps you in compliance with Federal Laws
- If a name, or variation of a name, is found, a warning is provided with instructions to follow
- Avoid the fines and penalties of up to $10,000,000 and imprisonment of up to 30 years per incident
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Integrated with On-Time, Pass Time and PayTeck. - Help control delinquency issues by preventing the vehicle from starting if a payment is past due
- You do not need to input information into separate software programs when integrated with the MSP program
- Save time at the payment window with codes that are generated automatically through the program and printed right on the customer’s payment receipt
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 Import Journal Entries automatically into QuickBooks.
- Save time in updating your accounting information
- Still have the ability to make changes even after the import is complete
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 Upload your unsold inventory to the VIADA website
- Allow prospective customers in the state of Virginia to view your sale-ready inventory
- Eliminate the need to manually send your information saving you time to sell more cars
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 Upload your unsold inventory to Auto Trader.
- Allow your prospective customers to view your inventory from anywhere in the world
- Keep your inventory fresh and updated in seconds
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 Integration of your inventory pages with MSP Buy Here Pay Here Software.
- Upload your unsold inventory directly to your own website
- Show your potential customers only what is ready for sale, not what has already been sold
- It is fast and easy and only a couple clicks away to keep fresh inventory at all times
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