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Billing & Payments
(continued)
Example Billing Statement
Below is an example of the monthly Billing Statement. This statement provides both summary
and detail listings of all loans in your financial portfolio. Several important items are highlighted
with additional details included in the legend below.
1.
Current Charges
– Displays all of the
collateral types with amounts due
2.
Principal/Payment Due
– Calculates
the total amount of principal payments
due for each collateral type
3.
Interest Due
– Provides the total
amount of interest due for your entire
portfolio
4.
Loan Fees Due
– Lists all fees
assessed by collateral type (i.e. –
Fleet/EPP loan, Origination, NSF, etc.)
5.
Insurance Due
– Calculates the
insurance fees due by collateral type
(for dealers using the GMF Floorplan
insurance provider).
