Settlement Summary

The Settlement Summary replaces the Settlement Worksheet and appears in the left navigation pane following a valuation. The Settlement Summary provides a complete view of the information available for the valuation vehicle. The Settlement Summary includes more than information from the valuation. It includes additional fields for notes, adjustments, fees, loan, salvage, and tax. The sales tax rate is determined by the vehicle ZIP Code and is calculated automatically using the rates in the associated profile. Throughout the Settlement Summary, you can click underlined values to display a variety of worksheets related to the summary.

You can access the following worksheets from the Settlement Summary:

  • Lienholder Worksheet
  • Prior Damage Worksheet
  • Fees Worksheet
  • Tax Worksheet
  • Salvage Worksheet
  • Other Costs Worksheet

Note: Every time a request is made for custom taxes and fees in the state of California, new DMV documents are downloaded. These documents are accessible from the Settlement Summary page, View Documents link, and CAM. Report generated events also include Reg 65 and DMV information.

How to

  1. In the navigation pane under the most recent valuation (or revision), and under the appropriate suffix, expand the following sections as necessary.
    • Documents
    • Total Loss Valuations
    • Version
  2. In the list of available documents, click the Settlement Summary.
  1. In the navigation pane under Documents, click Settlement Summary.
  2. From the Settlement Summary, click Revise.
  3. Make the required changes and click Save or Submit Request.

  1. From the Settlement Summary, go to the Tax section

  2. Select the PDF icon, .

  1. From the Settlement Summary, go to the Tax section

  2. Select Modify Custom Taxes & Fees.

  3. Modify the custom taxes and fees as required (Custom Taxes and Fees/Generic State Tax).

  4. When done modifying taxes and fees, select refresh, .

  1. From the Settlement Summary, go to the Salvage section

  2. Select an applicable salvage option (Company Obtains/Owner Retains)

  1. On the button bar, click Live Agent.

  2. From the Live Agent Chat window, select an option for live agent support.

    Note: If an agent is not available, the Live Agent Chat window will show "Agent unavailable" next to that option.

  3. Click Start Chat to connect with a Total Loss representative.

  1. On the button bar, click TrueCar Referral.

  2. Complete the mandatory fields for the TrueCar referral.

  3. Click Submit.

    The recipient will receive an offer for services from TrueCar at the email address you provided.

  1. On the button bar, click Print Preview.

  2. From the Print Settlement Summary window, click Print.

Reference

Loan Information

 

Lien Holder Payoff

 Provides the Lien Holder Payoff value. Click the underlined value to open the Lien Holder Information worksheet.

Loan/Lease Payoff Coverage

 Enter the payoff coverage for the loan/leas for the valuation vehicle.

Payment Information

 

Lien Holder Payment(s)

 Enter the amount of payment made by the lien holder.

Net to Owner

 Provides the net amount due the owner of the valuation vehicle.

Settlement

 

Adjuster License #

 Enter the adjuster's license used for the vehicle valuation.

Comments

Enter a descriptive note to accompany the settlement. The note will be saved as a Diary entry.

Stated Amount

 Select to use the Stated Amount for the valuation vehicle.

Actual Cash Value

 Select to use the Actual Cash Value for the valuation vehicle.

Loss Vehicle Adjustments

Lists adjustments to the loss vehicle, including:

  • Base Value
  • Title History Adjustment
  • Refurbishment Adjustment
  • After market Parts Adjustment
  • Condition Adjustment
  • Settlement Adjustment
  • Prior Damage  Adjustment Click theunderlined value to open Prior Damage Settlement Worksheet.

Settlement Adjustments

Lists settlement adjustments, including:

  • Fees Click the underlined value to open Fees Worksheet.
  • TaxesClick the underlined value to open Tax Worksheet.
  • Company Obtains (from Salvage)
  • Owner Retains (from Salvage) Click the underlined value to open Mitchell WorkCenter Salvage Summary.
  • Net Settlement
  • Settlement Adjustment (Post-Tax)
  • Deductible
  • Other Adjustments Click the underlined value to open Other AdjustmentsWorksheet.

Total Settlement

The calculated amount to be paid.
Command Buttons  

Live Agent

Opens the Live Agent chat window to connect you with a live agent.

TrueCar Referral

Opens the TrueCar Referral window from which you can submit a TrueCar referral for an individual.

Reassign

Opens the Resource Lookup window from which you can choose a resource to reassign the valuation

Revise

Reopens the valuation work sheet allowing you to revise and to resubmit the request. Revisions are numbered sequentially and appear before the original valuation in the navigation bar.

Create Forms

Click to create a customized version of the Settlement Form (Bill of Sale), Odometer Statement, and Power of Attorney.
Print Preview Opens the Print Settlement Summary preview.

Save Summary

Saves the summary

Settle & Close Suffix

Settles and closes the suffix.

Close W/O Payment

Closes the suffix without payment.
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