The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Sep. 02, 2014
Filed:
May. 08, 2009
Galo Alava, San Antonio, TX (US);
Galo Alava, San Antonio, TX (US);
United Services Automobile Association (USAA), San Antonio, TX (US);
Abstract
A system, method, and computer-usable medium are disclosed for determining a maximum amount to finance based on a plurality of periodic payments. The maximum financed amount of the purchase price of a vehicle is determined based on a plurality of periodic payments, including the cost of vehicle insurance coverage. Data associated with a borrower is retrieved, followed by the borrower providing information related to a target vehicle and a maximum periodic payment amount for the cost of financing the target vehicle and insuring it. Vehicle insurance requirement data, vehicle insurance policy data, and vehicle loan terms data is then provided and processed with the vehicle data and the borrower data to generate a periodic cost for a vehicle insurance policy. Thereafter, the vehicle data, vehicle loan terms data, and borrower data are processed to generate a periodic cost for a loan on the vehicle. In turn, the periodic cost for the vehicle insurance policy, the periodic cost for a loan on the vehicle, and the total periodic payment amount provided by the borrower are processed to generate a maximum amount of the purchase price of the vehicle to finance.