System and method for purchasing increased efficiency items
First Claim
1. A system for matching vendors, consumers and lenders for an increased efficiency item, comprising:
- means for receiving loan data from lenders and for storing said loan data in a computer storage device;
means for receiving item information from vendors regarding at least one increased efficiency item and for storing said item information in a computer storage device;
means for determining estimated cost benefits to said consumer for each said at least one increased efficiency item;
means accessible to said computer storage device for using said loan data, said item information and said estimated benefits to create a list of negotiated terms and conditions of a loan agreement for each said at least one increased efficiency item within an identified lender;
means for receiving a selection from said consumer for at least one increased efficiency item to provide a selected item, wherein said consumer agrees to finance said selected item according to said loan agreement; and
means for delivering said selected item to said consumer.
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Accused Products
Abstract
The present invention provides a system and method for offering incentives related to the purchase of increased efficiency items. The method may comprise the steps of: offering to a consumer at least one increased efficiency item; determining the consumer'"'"'s credit rating; determining loan data for a loan agreement; determining the cost savings associated with each at least one increased efficiency item; determining the cost of a similar standard item for each at least one increased efficiency item; and providing a proposed loan agreement for each at least one increased efficiency item, wherein the total payment for a specified period of the proposed loan agreement is less than or equal to the cost savings for the specified period associated with each at least one increased efficiency item plus the cost of a similar standard item for the specific period.
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Citations
49 Claims
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1. A system for matching vendors, consumers and lenders for an increased efficiency item, comprising:
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means for receiving loan data from lenders and for storing said loan data in a computer storage device;
means for receiving item information from vendors regarding at least one increased efficiency item and for storing said item information in a computer storage device;
means for determining estimated cost benefits to said consumer for each said at least one increased efficiency item;
means accessible to said computer storage device for using said loan data, said item information and said estimated benefits to create a list of negotiated terms and conditions of a loan agreement for each said at least one increased efficiency item within an identified lender;
means for receiving a selection from said consumer for at least one increased efficiency item to provide a selected item, wherein said consumer agrees to finance said selected item according to said loan agreement; and
means for delivering said selected item to said consumer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A system for matching vendors, consumers and lenders for an increased efficiency item, comprising:
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means for receiving loan data from lenders and for storing said loan data in a computer storage device, wherein said loan data includes at least one of principal balance of the loan, term, initial period interest rate, compounding and interest rate crediting dates, terms for determining a formula interest rate applicable for a given period of time, a lifetime maximum interest rate, a maximum periodic, a life time minimum interest rate, a periodic minimum interest rate, estimated cost savings, an interest rate tied to an external benchmark, currency of the loan;
means for receiving item information from vendors regarding at least one increased efficiency item and for storing said item information in a computer storage device;
means for determining estimated cost benefits, in comparison to a standard comparable item, to said consumer for each said at least one increased efficiency item;
means accessible to said computer storage device for using said loan data, said item information and said estimated benefits to create a list of negotiated terms and conditions of a loan agreement for each said at least one increased efficiency item within an identified lender, wherein said means accessible to said computer storage device for using said loan data is a host system;
loan agreement negotiation means coupled to said computer storage devices for the borrower and at least one lender to enter, record and store the terms of the loan agreement, prepayment terms, loan adjustments, said loan adjustments comprising changes to costs, points, rates, margins, external benchmarks, caps or life caps to be made;
restriction means coupled to said computer storage device for identifying and entering particular terms under which funds received from the issuance of the loan agreement will be accepted by said consumer;
means for receiving credit payment from said consumer to finance said selected item according to said loan agreement;
means for receiving a selection from said consumer for at least one increased efficiency item to provide a selected item, wherein said consumer agrees to finance said selected item according to said loan agreement with said credit; and
means for delivering said selected item to said consumer. - View Dependent Claims (15, 16, 17, 18, 19, 21, 22, 23)
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20. A method for offering incentives related to the purchase of increased efficiency items, said method comprising the steps of:
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offering to a consumer at least one increased efficiency item;
determining said consumer'"'"'s credit rating;
determining loan data for a loan agreement;
determining the cost savings associated with each said at least one increased efficiency item; and
providing a proposed loan agreement for each said at least one increased efficiency item, wherein the total payment for a specified period of said proposed loan agreement is less than or equal to said cost savings associated for said specified period with each said at least one increased efficiency item plus said cost of a similar standard item for said specified period. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36)
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37. A method of implementing through a distributed system of computers, a loan for the purchase of increase efficiency items in the distributed system of computers comprising memory, said memory storing loan information including a principal balance of the loan, a term of the loan, and an interest rate of the loan, said method comprising the steps of:
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determining cost of at least one increased efficiency item offered for sale by a vendor and storing said cost of at least one increased efficiency item offered for sale by a vendor is said memory;
transmitting to a consumer a list with at least one increased efficiency item;
determining said consumer'"'"'s credit rating and storing said consumer'"'"'s credit rating in said memory;
determining loan data for a loan agreement from a lender and storing said loan data in said memory;
determining the cost savings associated with each said at least one increased efficiency item and storing said cost savings in said memory;
determining the cost of a similar standard item for each said at least one increased efficiency item and storing said cost of a similar standard item in said memory;
calculating a list of proposed loan agreements according information stored in said memory selected from the group consisting of said cost of at least one increased efficiency item offered for sale by a vendor, said consumer'"'"'s credit rating, said loan data, said cost savings and said cost of a similar standard item, wherein the total payment for said proposed loan agreement for a specified period is less than or equal to said cost savings associated for said specified period with each said at least one increased efficiency item plus said cost of a similar standard item for said specific period;
transmitting said list of proposed loan agreements for each said at least one increased efficiency item to said consumer;
accepting a purchase request from said consumer for said at least one increased efficiency item wherein said consumer accepts said proposed loan agreement and agrees to accept said at least one increased efficiency item;
providing credit payment to pay said proposed loan agreement; and
delivering said at least one increased efficiency to said consumer. - View Dependent Claims (38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49)
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Specification