This article is in continuation to How to Set-up Payment Options. Please visit the previous article if you want to see all the available payment types.
This option allows the customer to pay for the system over a number of instalments.
Click on Create on the top left hand corner on the list of payment options. You will get the page below.
- Give your payment option a title. (Note: This is how your payment option will appear in the proposal)
- Give your payment option a short description.
- In the Payment Type drop down, select Loan (Simple).
- You can toggle Collect Signature at Checkout to collect the customer's signature at checkout. (Note: this will not appear if you have not got Customer-Checkout Enabled)
- Enter in the loan interest in terms of % p.a
- Enter in the term of the loan in years.
- Enter in the dealer fee in dollars ($)
- Input Down Payment Percentage which is how much the customer should pay upfront, as a percentage of the total price of the system.
- You can then set the minimum and maximum amount which should be deposited.
- Choose an option for the payment frequency as Monthly or Fortnightly from the drop-down menu.
- Select whether you would like to enable Auto-Apply for this option and fill out the details for this.
- Use the text-editor to enter in the Terms and Conditions which are specific to this payment option and will only be displayed when this option is selected.
- Click the button to finish creating this payment option.