Methods and systems for online transactions

Patent metadata

Field	Value
Publication number	US-9922356-B1
Application number	US-201414161212-A
Country	US
Kind code	B1
Filing date	Jan 22, 2014
Priority date	Jan 22, 2013
Publication date	Mar 20, 2018
Grant date	Mar 20, 2018

Abstract

Systems, methods, and devices of the various embodiments enable online transactions related to buying/selling an item, such as a vehicle. In an embodiment, one or more installment agreements relating to a user and one or more items may be generated in response to one or more received inputs. In an embodiment, a deal table comprising the one or more installment agreements may be generated, and the deal table may be transmitted to a user device for presentation via the user interface.

First claim

What is claimed is:

1. A method comprising:
receiving, in a seller server, customer information from a customer computing device;
receiving, in the seller server, an item selection from the customer computing device;
determining, in the seller server, extreme limit parameters for the selected item based at least in part on a seller goal and the received customer information;
generating, in the server, a series of potential retail installment agreements for the selected item at one or more possible user selectable term values within the determined extreme limit parameters;
eliminating, in the seller server, any retail installment agreement of the series of potential retail installment agreements for the selected item not meeting a seller constraint to generate a series of valid retail installment agreements for the selected item;
generating, in the seller server, one or more objects including the series of valid retail installment agreements for the selected item;
sending, from the seller server, the one or more objects to the customer computing device enabling the customer computing device to display a dashboard comprising a first dial interface element and a second dial interface element, wherein the first dial interface element is a selectable dial element configured to be manipulated by a user of the customer computing device to indicate a first of the one or more possible user selectable term values, wherein manipulation of the first dial interface element modifies the second dial interface element to indicate a second of the one or more possible user selectable term values that corresponds to one of the series of valid retail installment agreements generated with the first of the one or more possible user selectable term values, and wherein the first dial interface element and the second dial interface element are non-concentric dials;
receiving, in the seller server, a customer response from the computing device indicating a selected one of the series of valid retail installment agreements; and
generating, in the seller server, an indication of the selected one of the series of valid retail installment agreements indicated in the received customer response.

2. The method of claim 1 , wherein:
the seller goal is a yield on the contract for purchase of the item;
the extreme limit parameters are one or more of a maximum possible period payment, a maximum available term length, and a customer payment to income ratio; and
the seller constraint is one or more of a minimum down payment, a maximum down payment, a minimum period payment, a maximum period payment, a maximum term, a minimum term, a maximum annual percentage rate (APR), and a minimum APR.

3. The method of claim 1 , wherein the item is a motor vehicle.

4. The method of claim 1 , wherein generating, in the seller server, an indication of the selected one of the series of valid retail installment agreements indicated in the received customer response comprises issuing, in the seller server, a contract for purchase of the item corresponding to terms of the selected one of the series of valid retail installment agreements indicated in the received customer response.

5. A server, comprising:
a network interface; and
a processor connected to the network interface, wherein the processor is configured with processor-executable instructions to perform operations comprising:
receiving customer information from a customer computing device via the network interface;
receiving an item selection from the customer computing device via the network interface;
determining extreme limit parameters for the selected item based at least in part on a seller goal and the received customer information;
generating a series of potential retail installment agreements for the selected item at one or more possible user selectable term values within the determined extreme limit parameters;
eliminating any retail installment agreement of the series of potential retail installment agreements for the selected item not meeting a seller constraint to generate a series of valid retail installment agreements for the selected item;
generating one or more objects including the series of valid retail installment agreements for the selected item;
sending the one or more objects to the customer computing device via the network interface enabling the customer computing device to display a dashboard comprising a first dial interface element and a second dial interface element, wherein the first dial interface element is a selectable dial element configured to be manipulated by a user of the customer computing device to indicate a first of the one or more possible user selectable term values, wherein manipulation of the first dial interface element modifies the second dial interface element to indicate a second of the one or more possible user selectable term values that corresponds to one of the series of valid retail installment agreements generated with the first of the one or more possible user selectable term values, and wherein the first dial interface element and the second dial interface element are non-concentric dials;
receiving a customer response from the computing device via the network interface indicating a selected one of the series of valid retail installment agreements; and
generating an indication of the selected one of the series of valid retail installment agreements indicated in the received customer response.

6. The server of 5 , wherein the processor is configured with processor-executable instructions to perform operations such that:
the seller goal is a yield on the contract for purchase of the item;
the extreme limit parameters are one or more of a maximum possible period payment, a maximum available term length, and a customer payment to income ratio; and
the seller constraint is one or more of a minimum down payment, a maximum down payment, a minimum period payment, a maximum period payment, a maximum term, a minimum term, a maximum annual percentage rate (APR), and a minimum APR.

7. The server of claim 5 , wherein the item is a motor vehicle.

8. The server of claim 5 , wherein generating an indication of the selected one of the series of valid retail installment agreements indicated in the received customer response comprises issuing a contract for purchase of the item corresponding to terms of the selected one of the series of valid retail installment agreements indicated in the received customer response.

9. A non-transitory processor readable storage medium having stored thereon processor-executable instructions configured to cause a processor to perform operations comprising:
receiving customer information from a customer computing device;
receiving an item selection from the customer computing device;
determining extreme limit parameters for the selected item based at least in part on a seller goal and the received customer information;
generating a series of potential retail installment agreements for the selected item at one or more possible user selectable term values within the determined extreme limit parameters;
eliminating any retail installment agreement of the series of potential retail installment agreements for the selected item not meeting a seller constraint to generate a series of valid retail installment agreements for the selected item;
generating one or more objects including the series of valid retail installment agreements for the selected item;
sending the one or more objects to the customer computing device enabling the customer computing device to display a dashboard comprising a first dial interface element and a second dial interface element, wherein the first dial interface element is a selectable dial element configured to be ma

Assignees

• Carvana Llc

Inventors

• Garcia Iii Ernest C
• Behrens Nicole
• Swofford Adam
• Adams William

Classifications

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