Insurance system and method for a high-risk asset purchaser or lessee
OwnerThomas Comstockinventor
Life of this patent
Estimating the term…
Abstract
A method of financing a purchase or a lease a depreciating asset that includes determining a credit worthiness indication associated with a purchaser or lessee and establishing a finance contract for the lease or the purchase of the depreciating asset. A dealer is a guarantor of the finance contract. The method further includes issuing an insurance policy for a benefit of the dealer based on a liability associated with being the guarantor. The liability is based on at least the credit-worthiness indication and a value of the depreciating asset. The method also includes paying a payment associated with the finance contract. A portion of the payment based on a cost of the purchase or the lease of the depreciating asset and a cost associated with the insurance policy.
Claims20
A method of financing a purchase or a lease a depreciating asset, the method comprising:
- determining a credit worthiness indication associated with a purchaser or lessee;
- establishing a finance contract for the lease or the purchase of the depreciating asset, wherein a dealer is a guarantor of said finance contract;
- issuing an insurance policy for a benefit of said dealer based on a liability associated with being said guarantor, wherein said liability is based on at least said credit-worthiness indication and a value of the depreciating asset;
- and
- paying a payment associated with said finance contract, wherein a portion of said payment based on a cost of the purchase or the lease of the depreciating asset and a cost associated with said insurance policy.
A financing system comprising:
- a depreciating asset having a value;
- a dealer that sells said depreciating asset for a purchase price;
- a consumer that acquires said depreciating asset from said dealer;
- said purchaser associated with a credit-worthiness indication;
- a lender that provides a finance contract to said consumer in return for payments associated with said finance contract, wherein said dealer is a guarantor associated with said finance contract;
- and
- an insurance policy for the benefit of said dealer based on a liability associated with being said guarantor for said financing contract, said liability based on said value of said depreciating asset and said credit-worthiness indication of said purchaser, wherein a portion of said payments is based on said purchase price of said depreciating asset and a cost associated with said insurance policy.
A financing arrangement between a lender, a purchaser and a dealer, the financing arrangement comprising:
- an asset that depreciates over time;
- a finance contract for purchase or lease of said asset from the dealer, wherein the dealer is a guarantor of said finance contract;
- and
- an insurance policy valued to at least reimburse the costs associated with said finance contract when said asset is repossessed.
A financing system for purchase or lease of a vehicle, financing system comprising:
- a first value defining a capitalized cost associated with the purchase or the lease of the vehicle;
- a second value defining a credit worthiness indication associated with a purchaser or lessee;
- and
- a scoring module that determines a purchase price or lease price of the vehicle, said purchase price or said lease price of the vehicle includes a cost of an insurance policy based on at least said first value and said second value.
A method of leasing a vehicle from a top tier lender, the method comprising:
- determining a credit score associated with a lessee;
- establishing a lease for the vehicle, wherein a dealer is a guarantor of said lease;
- issuing an insurance policy for a benefit of said dealer based on a liability associated with being said guarantor, wherein said liability is based on at least said credit score and a value of the vehicle;
- and
- paying an installment payment associated with said lease, said installment payment includes is based on at least a lease payment and a cost associated with said insurance policy.
Dependencies are inferred from the claim text.