METHOD AND SYSTEM FOR INTERNET BASED FINANCIAL AUTO CREDIT APPLICATION
First Claim
1. A method for electronic credit/loan application processing for a user at an vehicle retail location having a Internet capable personal computer connected to an Internet server, said method comprising:
- receiving a request via the Internet for an electronic loan/credit application form from the user;
generating the electronic loan/credit application form as a web page, said electronic form being generated to include an information field in which the user designates a particular financial institute or service provider;
receiving a completed application form from the user;
determining whether the designated financial institute or service provider is a system participant; and
transmitting information from the completed application form via the Internet to the designated financial institute or service provider if the institute or provider is a system participant, or facsimile transmitting the information from the completed application form to the designated financial institute or service provider if the institute or provider has been preselected by the user.
5 Assignments
0 Petitions
Accused Products
Abstract
A method and system are provided which enables automotive dealers to use a standard PC and Internet-type browser software package to enter credit/loan application data over the Internet. Such data can then be automatically distributed via the Internet to designated financial institutes or loan service providers for processing. The system also receives responses back from the service providers and displays these responses to the requesting dealer. To accommodate financial institutions which have not been provided with prearranged access, the system provides automatic enablement of facsimile transmission to dealer-chosen banks and credit unions. In addition, other information which facilitates the automotive credit process, such as completion of standard department of motor vehicles forms, insurance forms, etc., may also may be collected and transmitted electronically to the institution/company either directly or through a credit application service provider, with electronic responses provided back to the requesting dealer.
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Citations
12 Claims
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1. A method for electronic credit/loan application processing for a user at an vehicle retail location having a Internet capable personal computer connected to an Internet server, said method comprising:
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receiving a request via the Internet for an electronic loan/credit application form from the user;
generating the electronic loan/credit application form as a web page, said electronic form being generated to include an information field in which the user designates a particular financial institute or service provider;
receiving a completed application form from the user;
determining whether the designated financial institute or service provider is a system participant; and
transmitting information from the completed application form via the Internet to the designated financial institute or service provider if the institute or provider is a system participant, or facsimile transmitting the information from the completed application form to the designated financial institute or service provider if the institute or provider has been preselected by the user. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for electronic credit/loan application processing comprising:
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an Internet capable personal computer at an vehicle retail location; and
an intermediate system server for communicating over the Internet with the personal computer at the vehicle retail location and a plurality of participating financial institutions or service providers, said intermediate system server comprising a computer processing system connected to a database and a facsimile transmission device, said computer processing system arranged to generate an electronic loan/credit application form as a web page in response to a request via the Internet from a user at the vehicle retail location, said electronic form having an information field in which the user designates a particular financial institute or service provider, wherein said computer processing system is further arranged to determine whether the designated financial institute or service provider is a system participant, and transmit information from a completed application form via the Internet to the designated financial institute or service provider if the institute or provider is a system participant, or alternatively facsimile transmit the information from the completed application form to the designated financial institute or service provider if the institute or provider is not participating but has been preselected by the user. - View Dependent Claims (9, 10, 11, 12)
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Specification