Patent ID: 8160956
Filing Date: 2012-04-17
Classification: G06Q

Abstract:
1. A method of determining financing for a purchase or a lease of a depreciating asset for a purchaser or a lessee, the method comprising: electronically determining a credit worthiness on a computer based on the purchaser or the lessee; electronically establishing a finance contract on said computer for the purchase or the lease of the depreciating asset, said finance contract includes a dealer who is a seller or a lessor of the depreciating asset designated as a guarantor of said finance contract; determining a cost of an insurance policy, said dealer is designated as a beneficiary of said insurance policy, said cost of said insurance policy is based on a liability of said dealer being designated said guarantor of said finance contract, said liability of being designated said guarantor of said finance contract is based on at least said credit-worthiness and a value of the depreciating asset; determining a payment required of the purchaser or the lessee by said finance contract, said payment having a value based on a cost of the purchase or the lease of the depreciating asset and a cost of said insurance policy.