Methods and systems for deal structuring for automobile dealers

• US 20160042450A1
• Filed: 06/09/2015
• Published: 02/11/2016
• Est. Priority Date: 08/15/2001
• Status: Abandoned Application

• Current Assignee: Westlake Services LLC (Hankey Group)
• Original Assignee: Westlake Services LLC (Hankey Group)
• Inventors: Duke, Michael, Hagan, Kenton D., Newmark, Bruce E., Vagim, James G. III
• Application Number:
  US14/734,260
• Publication Number:
  US 20160042450A1
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: B82Y 15/00 Nanotechnology for interacting, sensing or actuating, e.g. quantum dots as markers in protein assays or molecular motors
• 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
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method for deal structuring by a dealer, using a network based system including a server system coupled to a centralized database and at least one client system is disclosed. The method comprises receiving a loan application from a buyer regarding the deal, running a credit report based on the loan application, analyzing and scoring the credit report to evaluate the buyer'"'"'s creditworthiness in relationship to the deal, and structuring the deal based on the buyer'"'"'s creditworthiness. In an exemplary embodiment, the method provides guidance to the dealer utilizing a cartoon character based on pre-determined credit criteria to adjust various parameters to successfully structure the deal.

Claims

1. A method for determining a vehicle financing agreement, comprising:

providing access to a database that stores information of a plurality of vehicles and deal guidelines associated with a dealer;

from a group of vehicle reliability classifications, determining a vehicle reliability classification that indicates a reliability for each vehicle in the plurality of vehicles based on the information and according to a set of classification rules;

upon receiving a request for a financing agreement associated with a first of the plurality of vehicles, automatically determining a term and an advance amount of the vehicle financing deal based on the classification determined for the first of the plurality of vehicles;

determining whether the vehicle financing deal is in compliant with the deal guidelines associated with the dealer; and

upon determining that the vehicle financing deal is not in compliant with the deal guidelines associated with the dealer, providing an interface comprising a cartoon character to guide the dealer to adjust different deal structure parameters of the vehicle financing deal.

2. The method of claim 71, wherein the deal guidelines comprise at least one of the following:

a pre-determined credit guideline, a legal guideline, a pre-defined risk guideline.

3. The method of claim 71, wherein the information comprises at least one of the following:

a year of the vehicle, a mileage of the vehicle, an approved addition, and a customer factor.

4. The method of claim 71, further comprising a step of analyzing a value of the vehicle based on a wholesale book value and determine the term and the advance amount based on the value.

5. The method of claim 71, wherein the interface further comprises a section to guide the dealer to adjust different deal structure parameters of the vehicle financing deal by providing a response of approving or disapproving a deal that includes at least one of “

YES”

response and “

NO”

response.