METHOD AND SYSTEM FOR NEGOTIATING, GENERATING, DOCUMENTING, AND FULFILLING VENDOR FINANCING OPPORTUNITIES

• US 20150161583A1
• Filed: 12/10/2014
• Published: 06/11/2015
• Est. Priority Date: 12/10/2013
• Status: Active Grant

• Current Assignee: De Lage Landen Financial Services, Inc. (Rabobank Group)
• Original Assignee: De Lage Landen Financial Services, Inc. (Rabobank Group)
• Inventors: PHELPS, Scott, LlBERTINI, Elsie, ROSATO, Rafael, NAPIER, Michael, HARRISON, Joshua, WILSON, Heather, GALLAGHER, Tim
• Granted Patent: US 11,062,293 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 10/107 Computer-aided management of electronic mailing [e-mailing]
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/145 Payments according to the detected use or quantity
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method for managing a financing or lease of a product and/or service, the method executing on a computing device, the method including: receiving a price of the product to be financed or leased; receiving an amount of the price of the product to be financed; selecting a rate card; determining a current finance rate based upon the rate card that is selected; selecting a purchase option for the product and/or service; selecting a contract term of the financing or lease related to the purchase or lease the product and/or service; determining a payment amount for the product based on the inputted price of the product to be financed or leased, the amount of the price of the product to be financed, the current finance rate, the purchase option selected, and the term of the financing or lease selected; and displaying the payment amount that is determined.

Claims

1. A method for managing a financing or lease of a product, the method executing on a computing device including a processor, a display unit, a transmitting unit, a user input device that is configured to accept inputs from a user, and a storage device storing executable instructions which when executed by the processor of the computing device perform the method, the method comprising:

receiving, from an input by the user input device, a price of the product to be financed or leased;

receiving, from an input by the user input device, an amount of the price of the product to be financed;

selecting, by an input of the user input device, a rate card;

determining, by the processor, a current finance rate based upon the rate card that is selected;

selecting, by an input of the user input device, a purchase option for the product and/or service;

selecting, by an input of the user input device, a total term of the financing or lease that will be made to purchase or lease the product and/or service;

determining, by the processor, a payment amount for the product based on the inputted price of the product to be financed or leased, the amount of the price of the product to be financed, the current finance rate, the purchase option selected, and the total term of the financing or lease selected; and

displaying the payment amount that is determined on the display unit.

2. The method of claim 1, wherein the purchase option is selected from among a plurality of purchase options including a fair market value purchase option and a one dollar purchase option.

3. The method of claim 1, further comprising:

selecting, by an input of the user input device, a customer from a contacts list, and auto-populating contact information of the customer into customer contact fields;

saving the populated customer contact fields; and

associating the contact information of the customer with the product and the payment amount.

4. The method of claim 3, further comprising:

selecting, by an input of the user input device, the product to be leased or financed from a drop-down list;

auto-populating make and model information about the product into product make and product model information fields;

saving the populated product make and product model information fields; and

associating the product make and product model information fields with the contact information of the customer.

5. The method of claim 4, further comprising:

generating, by the processor, a quote for the customer, wherein the quote includes the payment amount for the product, the finance charge rate, the purchase option that was used to calculate the payment amount, the total term of the financing or lease that was used to calculate the payment amount, the make and model information of the product, and the contact information of the customer.

6. The method of claim 5, further comprising:

sending, by the transmitting unit of the computing device, the quote via email to the customer.

7. The method of claim 5, further comprising:

accepting the quote by receiving a signature of the customer inputted by the user input device and a social security number inputted by the user input device.

8. A non-transitory computer readable storage medium storing computer program instructions which when executed cause a processor to implement a method for managing a financing or lease of a product, the method comprising:

receiving, from an input by a user input device, a price of the product to be financed or leased;

receiving, from an input by the user input device, an amount of the price of the product to be financed;

selecting, by an input of the user input device, a rate card;

determining a current finance rate based upon the rate card that is selected;

selecting, by an input of the user input device, a purchase option for the product and/or service;

selecting, by an input of the user input device, a total term of the financing or lease that will be used to purchase or lease the product and/or service;

determining a payment amount for the product based on the inputted price of the product to be financed or leased, the amount of the price of the product to be financed, the current finance rate, the purchase option selected, and the total term of the financing or lease selected; and

displaying the payment amount that is determined on a display unit.

9. The non-transitory computer readable storage medium of claim 8, wherein the purchase option is selected from among a plurality of purchase options including a fair market value purchase option and a one dollar purchase option.

10. The non-transitory computer readable storage medium of claim 8, further comprising:

receiving a selection of a customer from a contacts list, and auto-populating contact information of the customer into customer contact fields;

saving the populated customer contact fields; and

associating the contact information of the customer with the product and the payment amount.

11. The non-transitory computer readable storage medium of claim 10, further comprising:

receiving a selection of the product to be leased or financed from a drop-down list;

auto-populating make and model information about the product into product make and product model information fields;

saving the populated product make and product model information fields; and

associating the product make and product model information fields with the contact information of the customer.

12. The non-transitory computer readable storage medium of claim 11, further comprising:

generating a quote for the customer, wherein the quote includes the payment amount for the product, the finance charge rate, the purchase option that was used to calculate the payment amount, the total term of the financing or lease that were used to calculate the payment amount, the make and model information of the product, and the contact information of the customer.

13. The non-transitory computer readable storage medium of claim 12, further comprising:

sending the quote via email to the customer.

14. The non-transitory computer readable storage medium of claim 12, further comprising:

accepting the quote by receiving an electronic signature of the customer and a social security number of the customer.

15. A method for managing a financing or lease of a product, the method executed by a mobile application on a mobile computing device including a processor, a display unit, a transmitting unit, a user input device that is configured to accept inputs from a user, and a storage device storing the mobile application which contains executable instructions which when executed by the processor of the mobile computing device perform the method, the method comprising:

receiving, from an input by the user input device, a price of the product to be financed or leased;

receiving, from an input by the user input device, an amount of the price of the product to be financed;

selecting, by an input of the user input device, a rate card;

determining, by the processor, a current finance rate based upon the rate card that is selected;

selecting, by an input of the user input device, a purchase option for the product and/or service;

selecting, by an input of the user input device, a total term of the financing or lease that will be made to purchase or lease the product and/or service;

determining, by the processor, a payment amount for the product based on the inputted price of the product to be financed or leased, the amount of the price of the product to be financed, the current finance rate, the purchase option selected, and the total term of the financing or lease selected; and

displaying the payment amount that is determined on the display unit.

16. The method of claim 15, wherein the purchase option is selected from among a plurality of purchase options including a fair market value purchase option and a one dollar purchase option.

17. The method of claim 15, further comprising:

selecting, by an input of the user input device, a customer from a contacts list, and auto-populating contact information of the customer into customer contact fields;

saving the populated customer contact fields; and

associating the contact information of the customer with the product and the payment amount.

18. The method of claim 17, further comprising:

selecting, by an input of the user input device, the product to be leased or financed from a drop-down list;

auto-populating make and model information about the product into product make and product model information fields;

saving the populated product make and product model information fields; and

associating the product make and product model information fields with the contact information of the customer.

19. The method of claim 18, further comprising:

generating, by the processor, a quote for the customer, wherein the quote includes the payment amount for the product, the finance charge rate, the purchase option that was used to calculate the payment amount, the total term of the financing or lease that were used to calculate the payment amount, the make and model information of the product, and the contact information of the customer.

20. The method of claim 18, further comprising:

sending, by the transmitting unit of the computing device, the quote via email to the customer.

21. The method of claim 18, further comprising:

accepting the quote by receiving a signature of the customer inputted by the user input device and a social security number inputted by the user input device.