Method for protecting equity in purchased goods
First Claim
1. A method for protecting equity in purchased goods that are damaged within a predetermined time period after purchase, said method comprising the steps of:
- establishing the purchase date and price for the purchased goods;
determining a purchaser'"'"'s equity in the purchased goods on the purchase date;
selecting a time period for protecting said purchaser'"'"'s equity in the purchased goods;
determining a purchaser'"'"'s equity in the purchased goods on a disposition date for the purchased goods;
calculating the difference between said purchaser'"'"'s equity and a fair market value for the purchased goods on the damage or sales date; and
paying the purchaser a computer determined amount when said purchaser'"'"'s equity is greater than the fair market value for the purchased goods on the damage or sales date.
0 Assignments
0 Petitions
Accused Products
Abstract
A method 10 for protecting equity in purchased goods that are disposed of during a predetermined time period after purchase, includes establishing the purchase date and price for the purchased goods 14, determining a purchaser'"'"'s equity in the purchased goods on the purchase date 16, selecting a time period for protecting the purchaser'"'"'s equity in the purchase goods 18, determining a purchaser'"'"'s equity in the purchased goods on a disposition date for the purchased goods 26, calculating the difference between the purchaser'"'"'s equity and a fair market value for the purchased goods on the disposition date 30, and paying the purchaser a computer determined amount when the purchaser'"'"'s equity is greater than the fair market value for the purchased goods on the disposition date 32, 40 and 42.
-
Citations
21 Claims
-
1. A method for protecting equity in purchased goods that are damaged within a predetermined time period after purchase, said method comprising the steps of:
-
establishing the purchase date and price for the purchased goods;
determining a purchaser'"'"'s equity in the purchased goods on the purchase date;
selecting a time period for protecting said purchaser'"'"'s equity in the purchased goods;
determining a purchaser'"'"'s equity in the purchased goods on a disposition date for the purchased goods;
calculating the difference between said purchaser'"'"'s equity and a fair market value for the purchased goods on the damage or sales date; and
paying the purchaser a computer determined amount when said purchaser'"'"'s equity is greater than the fair market value for the purchased goods on the damage or sales date. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
-
-
9. A method for maintaining equity in a vehicle for a predetermined time period after purchasing the vehicle, said method comprising the steps of:
-
recording the purchase date and price of the vehicle;
recording the amount paid by a purchaser of the vehicle on the purchase date;
determining a time period for maintaining a purchaser'"'"'s equity in the vehicle;
calculating said purchaser'"'"'s equity for the vehicle on a selected day during said time period; and
paying the purchaser a computer determined amount. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 17)
-
-
18. A method for insuring a purchaser'"'"'s downpayment when purchasing a vehicle, said method comprising the steps of:
-
entering vehicle purchase parameters into a computer;
entering a vehicle ownership time period into said computer;
calculating via said computer, a purchaser'"'"'s equity in the vehicle over said ownership time period; and
paying an insurance premium to an insurance company to insure said calculated purchaser'"'"'s equity in the vehicle over said ownership time period whereby the purchaser receives a payment from the insurance company in the event that the fair market value of the vehicle is insufficient for the purchaser to receive a calculated equity on a date, within said ownership time period, that the vehicle is sold, lost, stolen or damaged. - View Dependent Claims (19, 20, 21)
-
Specification