Patent ID: 7827099
Filing Date: 2010-11-02
Classification: G06Q

Abstract:
1. A financial terms alert generation system comprising: at least one computer-readable medium storing a plurality of software modules, wherein each of the software modules comprises computer-executable instructions; and computer hardware comprising at least one computer processor in communication with the computer-readable medium and configured to execute the software modules to generate and transmit an alert to a vehicle dealer to indicate that the vehicle dealer can replace a first vehicle of a customer with a second vehicle, wherein the software modules comprise: a vehicle comparison module configured to access at least one data repository that stores associations between comparable vehicles and to determine, based on one or more of the associations, a vehicle that is comparable to another vehicle; an information retrieval module configured to retrieve, from at least one data repository accessible via a computer network, customer information, first financial terms that the customer has for a first vehicle, first vehicle information, second vehicle information for a second vehicle that the vehicle comparison module determines is comparable to the first vehicle, and second financial terms available to the customer for the second vehicle, wherein the first financial terms and the second financial terms collectively comprise at least an amount due on the first vehicle, an existing periodic payment for the first vehicle, interest rates, payoff periods, and any dealer or manufacture incentives that are available, wherein the information retrieval module is configured to determine when retrieved information has changed since a previous retrieval of information; a value estimation module configured to estimate at least an equity value of the first vehicle from at least a portion of the customer information, the first financial terms, and the first vehicle information, the estimated equity value of the first vehicle based on a comparison between (1) a payoff amount associated with the first vehicle adjusted by a trade-in value associated with the first vehicle, and (2) the amount due on the first vehicle; a second vehicle cost calculation module configured to calculate a cost of the second vehicle by adjusting an average selling price associated with the second vehicle by the estimated equity value of the first vehicle and any of the dealer or manufacture incentives that are available; a financial terms generation module configured to generate adjusted second financial terms by analyzing the calculated cost of the second vehicle; a financial terms comparison module configured to automatically cause the computer hardware to periodically monitor the adjusted second financial if it is determined in real-time that the changed retrieved 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, wherein the determination comprises calculating, based at least upon the estimated value of the first vehicle and the adjusted second financial terms, an available periodic payment for the second vehicle, calculating the difference between the available periodic payment for the second vehicle and the existing periodic payment for the first vehicle, and determining whether the difference is less than or equal to a preset acceptable threshold value; an alert generation and transmission module configured, when it is determined that it is favorable to the customer to replace the first vehicle and the first financial terms with the second vehicle and the adjusted second financial terms, to generate for the dealer an alert comprising information identifying the customer, the customer's contact information, the first vehicle, the second vehicle, and the adjusted second financial terms and to transmit at least a notification of the alert to the dealer, wherein the alert comprises a deal sheet adapted to facilitate a replacement transaction in which the customer replaces the first vehicle with the second vehicle; and an alert management module configured to provide the dealer access to a plurality of alerts generated for the dealer and to allow the dealer to perform a plurality of management operations on the alerts, wherein the management operations are adapted to facilitate the dealer's closing of a replacement transaction with a customer and comprise sorting the alerts, searching for and viewing a portion of the alerts, and assigning a status to an alert.