Online purchasing system supporting sellers with affordability screening
First Claim
1. An online affordability-based purchasing system comprising:
- product information regarding a plurality of products offered for sale online;
financing parameter information regarding at least one financing vehicle;
a first web server;
a computer, communicatively coupled to the first web server, running browser software presenting the product information; and
the computer responding to input of personal information about a buyer causing the financing parameter information to be obtained, the financing parameter information and at least a portion of the personal information being used to automatically identify at least one of the plurality of products for which the buyer is at least likely to be approved to purchase using the at least one financing vehicle.
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Accused Products
Abstract
An online system uses, in various embodiments of the invention, credit report information, loan affordability screening and credit approval and management functionality to facilitate the purchase and finance of products online. The online system may include both sellers of products and lenders that offer financing to buyers seeking to purchase the products. The system may automatically obtain a buyer'"'"'s credit report information and use that information to determine if the buyer is pre-approved, for example, to obtain financing for a particular product or products. The system also enables use of buyer credit information to identify only those of a seller'"'"'s products for which the buyer is pre-approved, for example, to finance using one or more loans. The system then enables selection of an identified product or products for purchase, and selection of a loan, for example, for financing of the selected product or products. Credit approval (or pre-approval) may be performed automatically, and along with credit processing, may be performed completely online.
179 Citations
24 Claims
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1. An online affordability-based purchasing system comprising:
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product information regarding a plurality of products offered for sale online; financing parameter information regarding at least one financing vehicle; a first web server; a computer, communicatively coupled to the first web server, running browser software presenting the product information; and the computer responding to input of personal information about a buyer causing the financing parameter information to be obtained, the financing parameter information and at least a portion of the personal information being used to automatically identify at least one of the plurality of products for which the buyer is at least likely to be approved to purchase using the at least one financing vehicle. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. An online affordability based purchasing system comprising:
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at least one web page that contains personal information of a buyer; financing parameter information regarding at least one financing vehicle; a web server that responds to receipt of the at least one web page by causing the financing parameter information to be obtained; and a software engine that automatically identifies, using at least a portion of the personal information and the financing parameter information, at least one of a plurality of products sold online for which the buyer is at least likely to be approved to purchase using the at least one financing vehicle. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A method of facilitating financing of at least one product being offered for sale online, the method comprising:
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receiving, by a web server, at least one web page that contains personal information about a buyer; obtaining financing parameter information regarding at least one financing vehicle; and automatically identifying, by a software engine using at least a portion of the personal information and the financing information, at least one of a plurality of products for which the buyer is at least likely to be approved to purchase using the at least one financing vehicle. - View Dependent Claims (20, 21, 22, 23, 24)
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Specification