Patent ID: 8825505

Claim:
A system for managing periodic payments, comprising: a repository of vehicle data, vehicle insurance requirement data, vehicle insurance policy data, vehicle loan terms data, and borrower data; and computer-executable non-transitory processing logic operable to: receive user input data from a user comprising a maximum total periodic payment amount that a user is willing to incur; process said vehicle data, said vehicle insurance requirement data, said vehicle insurance policy data, and said borrower data to generate vehicle insurance policy periodic cost data; wherein said vehicle insurance requirement data comprises minimum insurance coverage requirements for a vehicle and includes other levels of insurance, said minimum insurance coverage requirements mandated by a state law and a financial institution holding a lien on said vehicle; process said vehicle data, said vehicle loan terms data, and said borrower data to generate vehicle loan periodic cost data; process said vehicle insurance policy periodic cost data, said vehicle loan periodic cost data, and said total periodic payment amount to generate a maximum vehicle purchase amount to finance; display a first total periodic cost for said vehicle loan periodic cost data and said first vehicle insurance policy periodic costs data collectively; and process, in response to said first total periodic cost being less than said maximum total periodic payment amount, said vehicle data, said vehicle insurance requirement data, said vehicle insurance policy data, and said borrower data to generate second vehicle insurance policy periodic cost data for said particular vehicle; wherein said second vehicle insurance policy periodic cost data for said particular vehicle is based on one of said other levels of insurance; display an advisory suggesting the one of said other levels of insurance and that a second total periodic cost for said vehicle loan periodic cost data and said second vehicle insurance policy periodic costs data collectively is less than said maximum total periodic payment amount in response to said second total periodic cost being less than said maximum total periodic payment amount.