A Daily Rate is a fee charged to the customer for use of the vehicle. A Daily Rate can be utilized if a dealership is using Dealerware for rental, or to offset wear and tear costs associated with loaner vehicles.
Toggle on and set the Daily Rate amount in Cost Recovery Settings.
If you charge a daily rate, we recommend Agreement Summary to reflect the following language:
I understand [Dealership's] credit card processor may authorize my card on file for the estimated length of my loan/rental. The daily rate is currently set at $x/day. The actual/final charge will depend on the actual length of loan/rental.
How are days calculated for Daily Rate?
Dealerware uses the actual contract length to determine the number of days charged to your customer.
This will be based on the "Actual Pickup" and "Actual Dropoff" that can be found in Contract Details.
Dealerware Considers any started contract at least one day and adds the next day after 24.5 hours.
Dealerware does not prorate or charge partial days.
Contract Length: 1 Hour = 1 Daily Rate Charge
Contract Length: 24 Hours = 1 Daily Rate Charge
Contract Length 25 Hours= 2 Daily Rate Charges
Contract Length 48 hours = 2 Daily Rate Charges
When closing the contract, Dealerware will use the "Actual Pickup" and "Actual Dropoff" times of the contract to determine the number of Daily Rates to charge.
Note: Customers are pre-authorized when starting a contract if daily rates are enabled.