V12VF | Stock Funding Guide| 2022 - Manual / Resource - Page 14
AUDITS EXPLAINED
DEALER AUDIT REQUIREMENTS
PAPERWORK AND PROOFS GUIDANCE
There are three
levels of Audit:
Green, Amber and
Red.
We encourage our dealers to set up a separate V12 Vehicle Finance folder to
keep all documents required for audits. These are:
•
•
•
•
Original Sales Invoices
Purchase Invoices for all Trade Forecourt funded vehicles
Clear and auditable proof of purchase and sales payments, that matches
the deal structure
All original V5 documents for all Trade funded vehicles
VEHICLE SETTLEMENT REQUIREMENTS
Go everything
looks good.
Proceed with
caution and
make some
improvements
STOP - Red Audit
scores are the
most serious and
can lead to your
account being put
on hold
All vehicles that are sold should be settled within 24 hours. When vehicles are
settled after 24 hours, late settlement fees of £75 may apply. For clarity V12VF
class a sale as:
•
•
•
Delivery of the vehicle
Payment in full
A finance house pay out (*part or full payment)
Whichever of these occurs first.
TRADE FORECOURT FUNDING PLAN CRITERIA
•
•
•
Scan the QR code to see a detailed
audit guide.
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•
•
•
Trade purchases & part exchanges should be physically on site and paid
for, prior to funding being requested on CALMS.
The only exception is vehicles purchased from BCA and Manheim – These
vehicles can be loaded once fully paid and a vehicle delivery date has
been firmly agreed.
Original purchase invoice plus proof of purchase payment must be made
available if requested.
Vehicles must be funded within 14 days of original purchase.
Vehicles must be tagged and scanned onto the digital audit device within
24 hours of funding approval.
No sale or return (SOR) vehicles are permitted under any circumstances.
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