SOUTH BEND, Ind., March 15, 2019 /PRNewswire-PRWeb/ -- Celebrating its 50th year in the consumer lending market, Carleton continues to be the industry leader in delivering accurate and compliant calculations to the automotive industry. With software that is integrated within many of the dealer management systems, menu selling solutions, lending portals, and digital retailing platforms, Carleton's footprint can be seen throughout the automotive retail space. Following extensive market feedback and discussions with key partners, Carleton has released CarCalcs, a comprehensive and integrated Sales Tax, Registration and Dealer Fee API to complement their industry leading CarletonCalcs® solution.
CarCalcs was designed to be an easy and flexible integration for any platform provider in order to connect and populate dealer admin settings. The application's ease of use allows for the seamless onboarding of a dealer and real-time access to registration and dealer fee values. The data returned from the API is delivered in a format easily consumed by the CarletonCalcs® payment computation module for the precise calculation of retail sales or leases.
These computations provide the following:
- Sales tax rates by state, city, and county
- Sales tax basis including settings for fees and down payments
- Registration fee based on vehicle information
- Dealer fee default amounts by state, including documentation fees
- Lender and DMS default computation settings
- Ability to compute payment and deal information in a single call
The CarCalcs Sales Tax and Dealer Fee API integrates Automotive Titling Corporation's ("ATC") Title and Registration product into a comprehensive single data channel delivery service. ATC is the original innovator and industry leader for providing automotive sales tax and registration fees covering all 50 states.
"For over two decades, ATC has processed thousands of transactions through DMVs all over the country. This has facilitated our ability to build, catalog and uniquely authenticate the most accurate sales tax and registration fee database in the industry," states Ken Alley, President of ATC. "Our authentication process is a full time focus of our expert team."
The car buying process is shifting to a consumer driven digital marketplace. As a result, auto dealers and lenders now need their digital retailing platform to support lending regulations nationwide. The combination of Carleton's loan and lease payment calculation engine, Carleton's compliant state-driven dealer fee data base, and ATC's sales tax and title registration data, has resulted in the most comprehensive and accurate payment solution in the automotive digital retailing space.
"We saw a critical need for additional components to calculate accurate payment computations. This was the impetus for developing CarCalcs. Through our partnership with ATC, we have expanded our calculation offerings to include sales tax and registration fees," stated Carleton President & COO Matt Ruszkowski. "We knew we needed a partner with the same level of expertise as our proven calculation services. Partnering with ATC was a logical decision."
About Automotive Titling Corporation (ATC)
50 states. Over 10,000 taxing jurisdictions. Nine million different combinations of vehicle ownership rules, laws, requirements and forms, all driven by the vehicle, location, type of transaction, etc. ATC covers them all. Integrating the ATC API into your online application will allow you to instantly calculate taxes and registration more accurately for anywhere in the country. To learn more about ATC go to https://atc-api.com or contact Marcus Alley, Director of Technology Partnerships at (720) 200-8834 or marcus(at)autotitling.com.
About Carleton, Inc.
Carleton is the country's leading provider of financial calculation software, loan origination compliance support, and document generation software. Based in South Bend, Indiana, Carleton possesses over 50 years of leadership in this rapidly-changing regulatory industry. Carleton guarantees accuracy in all their calculations and disclosures enabling their partners to fulfill compliance requirements today and into the future. To learn more about Carleton Lending Solutions, go to http://www.carletoninc.com or contact Pete Radike, Director of Client & Channel Engagement at 800-433-0090 Ext. 245 or PRadike(at)carletoninc.com.
SOURCE Carleton
Share this article