Multi-vehicle incentive program
First Claim
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1. A method for restructuring a vehicle owner or lessor'"'"'s current vehicle financing to obtain an additional vehicle, the method comprising:
- receiving instructions at one or more computers configured to restructure a vehicle owner or lessee'"'"'s current vehicle financing;
determining by the one or more computers a first monthly loan or lease payment for a first loan or lease on a first vehicle that a customer currently owns or leases;
determining by the one or more computers an outstanding loan or lease balance for the first loan or lease;
determining by the one or more computers an average amount that the first vehicle is driven each month;
determining by the one or more computers a monthly insurance payment for the first vehicle;
calculating by the one or more computers a monthly transportation cost for the first vehicle, the monthly transportation cost being calculated based on the first monthly loan or lease payment, the average amount that the first vehicle is driven each month, and the monthly insurance payment;
determining by the one or more computers an acquisition price for a second vehicle having a higher fuel economy than the first vehicle;
determining by the one or more computers a second loan or lease and a second monthly loan or lease payment for both vehicles combined;
determining by the one or more computers an average amount that the first and second vehicles will be driven each month, respectively, wherein a greater average amount is allocated to the second vehicle based on the higher fuel economy of the second vehicle;
determining by the one or more computers a pro-rata monthly insurance payment distributed between the first and second vehicles, the monthly insurance payment being based at least in part on the average amount that the first and second vehicles will be driven each month, respectively;
calculating by the one or more computers a monthly transportation cost for the first and second vehicles combined, the monthly transportation cost being calculated based on the second monthly loan or lease payment, the average amount that the first and second vehicles will be driven each month, respectively, and the monthly insurance payment for the first and second vehicles combined; and
financing the first and second vehicles with the second loan or lease, the second loan or lease being a restructured loan or lease of the first loan or lease to include payment of the second vehicle.
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Abstract
A method and computer system for structuring two-vehicle financing. A price for a first vehicle having a first fuel economy is determined, and an average amount that the first vehicle will be driven each month is estimated. These steps are repeated for a second vehicle having a second fuel economy. Loan/lease terms are determined for both vehicles combined. A monthly transportation cost for the first and second vehicles combined is calculated based on the monthly loan or lease payment and the estimated amount that the first and second vehicles will be driven each month, respectively.
28 Citations
20 Claims
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1. A method for restructuring a vehicle owner or lessor'"'"'s current vehicle financing to obtain an additional vehicle, the method comprising:
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receiving instructions at one or more computers configured to restructure a vehicle owner or lessee'"'"'s current vehicle financing; determining by the one or more computers a first monthly loan or lease payment for a first loan or lease on a first vehicle that a customer currently owns or leases; determining by the one or more computers an outstanding loan or lease balance for the first loan or lease; determining by the one or more computers an average amount that the first vehicle is driven each month; determining by the one or more computers a monthly insurance payment for the first vehicle; calculating by the one or more computers a monthly transportation cost for the first vehicle, the monthly transportation cost being calculated based on the first monthly loan or lease payment, the average amount that the first vehicle is driven each month, and the monthly insurance payment; determining by the one or more computers an acquisition price for a second vehicle having a higher fuel economy than the first vehicle; determining by the one or more computers a second loan or lease and a second monthly loan or lease payment for both vehicles combined; determining by the one or more computers an average amount that the first and second vehicles will be driven each month, respectively, wherein a greater average amount is allocated to the second vehicle based on the higher fuel economy of the second vehicle; determining by the one or more computers a pro-rata monthly insurance payment distributed between the first and second vehicles, the monthly insurance payment being based at least in part on the average amount that the first and second vehicles will be driven each month, respectively; calculating by the one or more computers a monthly transportation cost for the first and second vehicles combined, the monthly transportation cost being calculated based on the second monthly loan or lease payment, the average amount that the first and second vehicles will be driven each month, respectively, and the monthly insurance payment for the first and second vehicles combined; and financing the first and second vehicles with the second loan or lease, the second loan or lease being a restructured loan or lease of the first loan or lease to include payment of the second vehicle. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer system for restructuring a vehicle owner or lessor'"'"'s current vehicle financing to obtain an additional vehicle, the computer system comprising one or more computers operably programmed and configured to:
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receive instructions for restructuring a vehicle owner or lessee'"'"'s current vehicle financing; receive input defining a first monthly loan or lease payment for a first loan or lease on a first vehicle that a customer currently owns; receive input defining an outstanding loan or lease balance for the first loan or lease; receive input defining an average amount that the first vehicle is driven each month; receive input defining a monthly insurance payment for the first vehicle; calculate a monthly transportation cost for the first vehicle, the monthly transportation cost being calculated based on the first monthly loan or lease payment, the average amount that the first vehicle is driven each month, and the monthly insurance payment; receive input defining a cost for acquiring a second vehicle having a higher fuel economy than the first vehicle; determine a second loan or lease and a second monthly loan or lease payment for both vehicles combined; receive input defining an average amount that the first and second vehicles will be driven each month, respectively, wherein a greater average amount is allocated to the second vehicle based on the higher fuel economy of the second vehicle; and determine a pro rata monthly insurance payment distributed between the first and second vehicles, the monthly insurance payment being based at least in part on the average amount that the first and second vehicles will be driven each month, respectively; and calculate a monthly transportation cost for the first and second vehicles combined, the monthly transportation cost being calculated based on the second monthly loan or lease payment, and the average amount that the first and second vehicles will be driven each month, respectively, and the monthly insurance payment for the first and second vehicles combined; and output one or more financing programs for financing the first and second vehicles with the second loan or lease, the second loan or lease being a restructured loan or lease of the first loan or lease to include payment of the second vehicle. - View Dependent Claims (12, 13, 14, 15)
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16. A method for determining a vehicle owner or lessee'"'"'s transportation cost in a two-vehicle financing program, the method comprising:
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receiving instructions by one or more computers configured to determine a vehicle owner or lessee'"'"'s transportation cost; determining by the one or more computers a price for a first vehicle having a first fuel economy; estimating by the one or more computers an average amount that the first vehicle will be driven each month by a vehicle owner or lessee; determining by the one or more computers an acquisition price for a second vehicle having a second fuel economy, the second vehicle having a higher fuel economy than the first vehicle; estimating by the one or more computers an average amount that the second vehicle will be driven each month by the vehicle owner or lessee, wherein a greater average amount is allocated to the second vehicle based on the higher fuel economy of the second vehicle; determining by the one or more computers terms of a loan or lease financing for both vehicles combined, the terms including a monthly loan or lease payment; determining by the one or more computers a pro-rata monthly insurance payment distributed between the first and second vehicles, the monthly insurance payment being based at least in part on the estimated average amount that the first and second vehicle will be driven each month, respectively; calculating by the one or more computers a monthly transportation cost for the first and second vehicles combined, the monthly transportation cost being calculated based on the monthly loan or lease payment, the estimated amount that the first and second vehicles will be driven each month, respectively and the monthly insurance payment for the first and second vehicles combined; and financing the first and second vehicles with a financing package based at least in part on the monthly transportation cost for both vehicles combined. - View Dependent Claims (17, 18, 19, 20)
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Specification