Method and system for financing acquisition of vehicles

• US 8,510,191 B2
• Filed: 10/21/2011
• Issued: 08/13/2013
• Est. Priority Date: 07/29/2003
• Status: Active Grant

• Current Assignee: Ford Motor Company
• Original Assignee: Ford Motor Company
• Inventors: Hall, Christopher, Gayton, Bradley, Johnson, Bernie, Polizzi, John, Johnson, Michael
• Primary Examiner(s): Khattar, Rajesh
• Assistant Examiner(s): SEE, CAROL A
• Application Number:
  US13/278,305
• Publication Number:
  US 20120284156A1
• Time in Patent Office: 662 Days
• Field of Search: None
• US Class Current: 705/35
• 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
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

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.

Claims

1. 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:

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;

upon receiving input indicative of a decision by a buyer 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.

2. The computer-implemented system of claim 1 further comprising a vehicle financing computer configured to receive input indicative of the future interest in a vehicle transferred to the vehicle financing company in consideration for the future interest price paid by the vehicle financing company upon transfer of the legal title in the vehicle to a vehicle consumer in consideration for a legal title price paid by the vehicle consumer.

3. The computer-implemented system of claim 2 wherein the vehicle financing computer is further configured to receive the vehicle information and the legal title information to at least partially effectuate transfer of the legal title in the vehicle.

4. The computer-implemented system of claim 2 wherein the legal title price is financed by the vehicle finance company.

5. The computer-implemented system of claim 1 wherein the future interest is a reversionary interest or a remainder.

6. The computer-implemented system of claim 1 wherein the vehicle dealership provides the vehicle.

7. The computer-implemented system of claim 1 wherein the legal title is provided for a legal title term.

8. The computer-implemented system of claim 7 wherein the legal title term is equal to the vesting period.

9. The computer-implemented system of claim 8 wherein the legal title term and the vesting period is in the range of one year to six years.

10. The computer-implemented system of claim 1 wherein the future interest vests upon expiration of the vesting period.