US 8,086,529 B2Granted

System and method for assessing and managing financial transactions

AssigneeAutoAlert, LLC

InventorJeffrey S. Cotton

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Abstract

A financial terms alert generation system comprises an information retrieval module, a financial terms comparison module, and an alert transmission module. The information retrieval module is configured to retrieve financing information, customer information, and product information from one or more sources accessible on a network. The financial terms comparison module is configured to compare a customer's current financial arrangement to a potential new financial arrangement to determine whether the customer is able to enter into a new financial arrangement on terms favorable to the customer. The alert transmission module is configured to transmit an alert to a dealer in cases in which the financial terms comparison module determines that a customer is able to enter into a new financial arrangement on terms favorable to the customer. Such alerts identify the customer and the favorable financial terms.

Claims20

Dependent claims

A method comprising:

automatically accessing, by a computer system comprising computer hardware, at least a portion of first financial terms that a customer has for a first vehicle and first vehicle information;
automatically accessing, by the computer system, at least a portion of second vehicle information for a second vehicle and second financial terms available to the customer for the second vehicle;
in response to a request, automatically accessing in real-time, by the computer system, information that has changed since past changed information that comprises at least one of changed accessed information associated with the first financial terms that the customer has for the first vehicle, the first vehicle information, the second vehicle information, or the second financial terms available to the customer for the second vehicle;
determining, by the computer system, whether the changed information may affect whether it is favorable for the customer to replace a first vehicle and first financial terms with a second vehicle and second financial terms by at least:
automatically identifying one or more comparison criteria based on an estimated equity value for the first vehicle derived from the first financial terms, and derived from the second financial terms;
and
automatically determining if the one or more comparison criteria satisfy at least a condition based at least in part on the first financial terms and the second financial terms, wherein the determination comprises calculating a difference between the one or more comparison criteria and an existing comparison criterion for the first vehicle, and determining whether the difference is less than or equal to a preset acceptable threshold value;
automatically generating a message if it is determined that the changed information may affect whether it is favorable for the customer to replace a first vehicle and first financial terms with a second vehicle and second financial terms, and not generating the message if it is determined that the changed information may not affect whether it is favorable for the customer to replace the first vehicle and first financial terms with the second vehicle and second financial terms;
and
automatically transmitting the message to a user.

7 more elements

A computing system comprising:

a processor;
and
a computer readable medium storing machine-executable instructions including one or more modules configured for execution by the processor in order to cause the computing system to:
electronically access at least a portion of customer information, first financial terms that a customer has for a first vehicle, and first vehicle information;
electronically access at least a portion of second vehicle information for a second vehicle and second financial terms available to the customer for the second vehicle;
in response to a request, electronically access in real-time information that has changed that comprises at least one of changed accessed information associated with the customer information, the first financial terms that the customer has for the first vehicle, the first vehicle information, the second vehicle information, or the second financial terms available to the customer for the second vehicle;
determine whether the changed information may affect whether it is favorable for the customer to replace a first vehicle and first financial terms with a second vehicle and second financial terms by at least causing the computing system to:
identify one or more comparison criteria based on an estimated equity value for the first vehicle derived from the first financial terms, and derived from the second financial terms;
and
determine if the one or more comparison criteria satisfy a condition based at least in part on the first financial terms and the second financial terms, wherein the determination comprises calculating a difference between the one or more comparison criteria and an existing comparison criterion for the first vehicle, and determining whether the difference is less than or equal to a preset acceptable threshold value;
generate a message if it is determined that the changed information may affect whether it is favorable for the customer to replace a first vehicle and first financial terms with a second vehicle and second financial terms, and not generating the message if it is determined that the changed information may not affect whether it is favorable for the customer to replace the first vehicle and first financial terms with the second vehicle and second financial terms;
and
transmit the message to a user.

10 more elements

Dependencies are inferred from the claim text.

Facts

Application: 13/076,208Filed 30 Mar 2011 · continuation
Priority: 25 Nov 2003
Published: US 2011/0173112 A114 Jul 2011
Granted: 27 Dec 2011
Term ends: Not estimatedThe source records don’t support an estimate.

Classification8 codes

G06Q 40/03
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: credit; Loans; Processing thereof
G06Q 30/02
Commerce: marketing; Price estimation or determination; Fundraising
G06Q 30/0201
Marketing; Price estimation or determination; Fundraising: market modelling; Market analysis; Collecting market data
G06Q 30/0278
Marketing; Price estimation or determination; Fundraising: product appraisal

Family

Application60/525,233Us provisional application · filed 25 Nov 2003
Application10/996,122Parent of this continuation · filed 23 Nov 2004
Application12/911,552Parent of this continuation · filed 25 Oct 2010
US 7,827,099 B1Parent of this continuation · filed 2 Nov 2010
US 2011/0173112 A1Pre-grant publication · published 14 Jul 2011
US 8,005,752 B1Parent of this continuation
US 8,086,529 B2This patent

From the US filing history. Foreign family members aren’t listed.