System and method for providing financing

A system for providing guaranteed financing to a customer for allowing the customer to purchase a product from an inventory of a dealer, the system comprising:

• a network;
• a financing package generating unit including a database configured to store the inventory of the dealer including a plurality of individually priced items, and a calculation unit;
• a user terminal adapted to accept credit information from the customer and further adapted to transmit the credit information over the network;
• and
• a server configured to receive credit information through the network, and to access the financing package generating unit, which retrieves a credit report related to the customer, and calculates a credit score for the customer based on the credit report and the credit information, the financing package generating unit further generating financing packages for each of the individually priced items in the database, the financing packages including a front-end profit calculated based on the credit score and dealer costs, the server beings further configured to transmit the financing packages to the user terminal for presentation to the dealer.

A system for generating financing packages for a customer purchase of a product from a dealer's inventory of a plurality of products, the system comprising:

• a database for storing information related to each product in the dealer's inventory including a dealer cost associated with each product;
• a user terminal associated with the dealer adapted to receive financial information about the customer;
• a server having access to the data in the database adapted to communicate with the user terminal over a network, whereby the financial information about the customer may be transmitted to the server;
• the server being configured to generate a financing package for each product in the dealer's inventory and transmit financing terms for each financing package to the user terminal via the network for presentation to the user.

A method for providing financing toward the purchase of a product by a customer from a merchant, the method comprising the steps of:

• maintaining an inventory database of the merchant's products;
• determining a down payment amount that the customer has available to pay toward the purchase of a product;
• determining a credit risk associated with the customer;
• generating a financing package for each product in the merchant's inventory of products, the financing packages being based on each individual product, the down payment amount and the credit risk associated with the customer;
• presenting the financing packages for each individual product to the merchant;
• whereby the merchant may select one or more of the financing packages to present to the customer.