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Commercial Application - Asset section

Detailed guide for users to navigate the asset section within Commercial Applications

Vivek Augustine avatar
Written by Vivek Augustine
Updated over 9 months ago

Step 1: Adding Asset Details

In this section, you’ll provide information about the asset you are financing. Follow these steps carefully:

✅ A. Enter the Purchase Price

  1. Click on the Purchase Price field.

  2. Enter the price of the asset (e.g., $30,000).

  3. Double-check for accuracy to avoid issues in the application process.

✅ B. Select the Asset Type

  1. Click on the Asset Type dropdown.

    📝 Note: The dropdown list may appear above or below depending on the position within the browser window.

  2. Choose the appropriate asset type (e.g., Car, Machinery, Equipment, Commercial Vehicle, etc.).

  3. Once an asset type is selected, additional search options will appear under the Asset section:

    • Search by Registration Number or VIN (Vehicle Identification Number).

    • Select the Registration State from the dropdown.

  4. Use the Blue Flag Search option:

    • Enter the VIN or Registration Number in the provided field.

    • Select the correct Rego State.

    • Click on Search Vehicle (🔵 Blue Flag button).

  5. When the Blue Flag search is completed:

    • The system will automatically fetch the vehicle or asset details.

    • Key fields such as Make, Model, Variant, Year, and other specifications will be pre-filled based on verified registry information.

  6. If a VIN or Registration search is not available:

    • Use the "Add Asset Details Manually" button to enter the asset information manually.

📌 Important: Using Blue Flag search ensures the asset details are accurate and validated directly from official records, reducing manual data entry errors.

✅C. Choose the Type of Sale

  • Click on the Type of Sale dropdown.

  • A list of options will appear in a list below

  • Select the correct option:

  1. Authorised Seller

  2. Authorised Electric Vehicle Seller

  3. Private Sale

  4. Mid-term Refinance

  5. Balloon/Residual Refinance

  6. Sale & Buyback/Equity

✅D. Enter Asset Details

  1. Fill in the following fields:

    • Make: Click on the Make text box and enter the brand (e.g., Toyota).

    • Model: Click on the Model text box and enter the exact model name or number.

👉 Tip: Ensure the information matches the documents (e.g., Invoice or Registration Papers).

Condition: Select from the dropdown list whether the asset is New, Demo or Used.

  • Year of Manufacture: Choose the correct year from the dropdown or type in your year of manufacture and click on the year.

👉 Tip: Ensure the information matches the documents (e.g., Invoice or Registration Papers).

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