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Setting Bookout Defaults

Autosoft -

As part of our Bookout and Inventory Management products, Autosoft offers subscriptions to several vehicle book providers. Based on your book provider subscriptions, you can select which providers you would like to use in your inventory pricing review, appraisals, and bookouts. 

Note:  You must have a subscription to Autosoft's Bookout and/or Inventory Management products to access and use this feature. 

To set your bookout defaults, follow these steps:

Step 1. Click the Setup Application button in the left navigation bar. The Dealership Information screen will open.

Step 2. Click the Vehicle button above the Dealership Summary Card. A drop-down menu of options will open.


Step 3. Select Bookout Defaults from the menu. The Bookout Defaults page will open.


Note:  If you don't have a subscription to Autosoft's Inventory Management product, this screen will not include the Inventory Pricing Review Bookout Defaults or Autosoft Market Analysis cards. If you have an Inventory Management subscription, see the articles "Setting Inventory Pricing Review Bookout Defaults" and "Setting Autosoft Market Analysis Defaults" for full instructions for completing the card's setup.

Step 4. In the Vehicle Bookout Defaults card, click the Compare Providers field to open the menu of book providers. The list includes Black Book, Kelley Blue Book, MMR, and NADA. Click to the left of each of the providers you would like to use in your appraisals and bookouts. 


Step 5. Use the Max Advance - New Vehicles and Max Advance - Used Vehicles cards to set your dealership's bookout defaults for retail and lease deals. 


These max advance defaults will be assigned to any new deal you create prior to selecting the bank for the deal. Based on deal type, the deal will default to the max advance set on this screen. When the bank is selected, the defaults set for that particular bank will replace these max advance defaults in the deal. The max advance defaults set on this screen will also auto-populate for any new banks you add to the Sales setup. You can then change the defaults as needed in the new bank record. 


In the Max Advance - New Vehicles card, use the Retail - Value Basis and Lease - Value Basis options menus to select whether the default value for retail and lease deals, respectively, on new vehicles will be based on MSRP or Invoice price. 

Use the Retail - Max Advance % and Lease - Max Advance % to set the default percentage of the value that will be covered by lenders for retail and lease deals, respectively, on new vehicles. Again, these are defaults that can be overridden or replaced when a bank is added to an individual deal.

Step 6. Use the Max Advance - Used Vehicles card to set default max advance limits for used deals. The Retail - Bookout Provider and Lease - Bookout Provider options menus will allow you to set a default book provider and vehicle condition to be used in retail and lease deals prior to a bank being assigned to the deal.


In the Retail - Max Advance % and Lease - Max Advance % fields, type a default max advance percentage based on the designated book value set in the Retail - Bookout Provider and Lease - Bookout Provider fields, respectively. 

Step 7. Click Save. A green "Success" message confirms the information has been saved. 

To learn how to arrange these providers on your appraisal worksheet, see the article Setting Up Appraisal Defaults


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