...
Dealer fees are calculated as a percentage of the loan amount (not of the install cost), as a result:
Loan Amount ($) = Install Cost ($) + Dealer Fee (%) x Loan Amount ($)
...
Example
You create a quote for a Service Finance 6060 21.5-3.99% 18mo IO a Demo Loan that has a 15.5% 10% dealer fee.
You design a 10.915kW system15.120 kW system.
You input an install cost of $3$1.75984/W, so the total install cost is $3$1.75984/W x 10,915W x 15.120 kW = $40$30,931.24000.
Loan amount, as per the formula above is thus $40,931.24 $30,000 / (1-150.5%1) = $48,439.34 $33,333.
That’s the number you’ll find in the proposal (below). All these numbers are rounded where they appear in the quote tool and proposal.
Related articles
...