Steps
- Set up once: SACCO → Settings → Asset finance - your approved suppliers and the catalogue (make, model, cash price, deposit %, the loan product, whether insurance and a tracker are required).
- SACCO → Asset finance → New quotation (or Finance an asset on the member's page): the model, and every approved cost - price, accessories, registration, insurance, tracker. The deposit and the amount financed are worked out.
- Submit: its loan opens. The member pays the deposit with the account member number + ADP (e.g. M00012ADP); click Deposit verified.
- The loan goes through its guarantors, appraisal and approvals (on the loan). When approved, the member and guarantors sign the offer and security documents; tick them, and record on the loan that the member accepted.
- Pay the supplier directly - the loan and the deposit together, the full price - with the invoice number.
- Handover: chassis / frame and engine numbers, registration, insurance, tracker, the logbook held as security, the signed handover note. Only then is it handed over; it joins the asset register.
- The member repays with the loan number. When it is fully repaid, an approver releases the documents - the asset is theirs.
Good to know
- Under Asset finance you see each stage at a glance: deposits pending, in approval, to pay, awaiting handover, repaying, under recovery review, to release - and insurance expiring within 30 days. A recovery review records the contacts, promises and the decision; any repossession follows the contract and the law. The member's asset-finance statement prints from the case.