Method For Financing Ownership Of A Vehicle
AssigneeFord Motor Company
InventorsAnand Chandran, Kirk Zumhoff, Mark Kaczynski, Robert Earl Pence, Bob H. Rieth
Life of this patent
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Abstract
The present invention relates to a method for financing ownership of a vehicle by a customer. A preferred method of the present invention includes financing the purchase of a vehicle with a RIC or loan. The RIC or loan is preferably repaid with a set of first payments followed by a set of second payments. The first payments preferably last until a decision point and are about 10 percent to about 40 percent lower than the second payments. The preferred method embodiment includes contacting the customer prior to the decision point to promote trade-in of the vehicle and a new vehicle purchase.
Claims20
A method for financing ownership of a vehicle by a customer, the method comprising:
- financing the purchase of a vehicle with a RIC or loan of an amount financed, the amount financed being repaid with a set of first payments followed by a set of second payments, the first payments lasting until a decision point and being a predetermined percent lower than the second payments;
- and
- contacting the customer prior to the decision point to promote trade-in of the vehicle and new vehicle purchase, the customer avoids at least a number of the second payments by trading in the vehicle and purchasing a new vehicle.
The method for financing ownership of a vehicle by a customer, the method comprising:
- financing the purchase of a vehicle with a RIC or loan of an amount financed, the amount financed being repaid with a set of first payments followed by a set of second payments, the first payments lasting until a decision point;
- and
- contacting the customer prior to the decision point to advertise trade-in of the vehicle and new vehicle purchase, the customer receiving a rebate applicable to at least a portion of the GAP existing at the time of the trade-in by trading in the vehicle and purchasing the new vehicle.
Dependencies are inferred from the claim text.