METHOD AND SYSTEM FOR FINANCING ACQUISITION OF VEHICLES
First Claim
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1. A method for transferring legal title in a vehicle, the method comprising:
- providing a vehicle;
receiving identification information and legal title information for the vehicle, the identification information including a vehicle make, a vehicle model and a vehicle year information, the legal title information including a legal title price and a legal title term;
transmitting the identification information and legal title information to at least partially effectuate transfer of a legal title in the vehicle;
transferring the legal title in the vehicle in consideration for a legal title price while retaining a future interest in the vehicle for a vehicle dealer, the future interest having a vesting period, wherein legal title transfer is accomplished at least partially by utilizing an at least one computer and an at least one computer network; and
transferring by the at least one computer the future interest to a vehicle financing company in consideration for a future interest price.
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Abstract
In one embodiment of the present invention, a method for financing acquisition of a vehicle is disclosed. The method comprises receiving a future interest in a vehicle in consideration for a future interest price upon transfer of a legal title in the vehicle in consideration for a legal title price.
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Citations
20 Claims
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1. A method for transferring legal title in a vehicle, the method comprising:
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providing a vehicle; receiving identification information and legal title information for the vehicle, the identification information including a vehicle make, a vehicle model and a vehicle year information, the legal title information including a legal title price and a legal title term; transmitting the identification information and legal title information to at least partially effectuate transfer of a legal title in the vehicle; transferring the legal title in the vehicle in consideration for a legal title price while retaining a future interest in the vehicle for a vehicle dealer, the future interest having a vesting period, wherein legal title transfer is accomplished at least partially by utilizing an at least one computer and an at least one computer network; and transferring by the at least one computer the future interest to a vehicle financing company in consideration for a future interest price. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A system comprising:
at least one server configured to; receive vehicle identification information and legal title information; transmit the information to at least partially effectuate legal title transfer in a vehicle; effectuate legal title transfer for a legal title price while retaining a future interest having a vesting period for a vehicle dealer; and effectuate a future interest transfer to a vehicle financing company for a future interest price. - View Dependent Claims (16, 17, 18)
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19. A computer-implemented system for transferring legal title in a vehicle, the system comprising an at least one computer, the at least one computer configured to:
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cause display of a website, the website including identification information and legal title information for a vehicle, the identification information including a vehicle make, a vehicle model and a vehicle year information, the legal title information including a legal title price and a legal title term; if a buyer decides to acquire the vehicle, causing display of a form on the website, the form being at least partially completed with buyer information through the website; transmit the at least partially completed form to at least partially effectuate transfer of legal title to the buyer; effectuate transfer of the legal title in the vehicle in consideration for a legal title price while retaining a future interest in the vehicle for a vehicle dealership, the future interest having a vesting period; and effectuate transfer of the future interest to a vehicle financing company in consideration for a future interest price. - View Dependent Claims (20)
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Specification