System for collecting weekly payments from a customer, holding those weekly payments in escrow, and then making monthly loan payments toward the customer's auto loan using the escrowed payments

Abstract

The Max AllowanceⓇ system is an on-line system that connects customers seeking to sell/trade an automobile with auto-dealers seeking to purchase used automobiles. By utilizing the “retail-down, considerate cash offer” approach of the on-line system, auto-dealers are able to formulate an offer for the customers’ automobile(s) that serves to entice them to contact the auto-dealers because said offer is more considered than offers generated using the common “wholesale-up” approach. The MAX AllowanceⓇ system gives auto-dealers confidence that they will be able to compare online disclosure against in-person vehicle inspection condition and improve their percentage of vehicle acquisitions while maintaining a desired amount of profit upon resale of the acquired vehicles. Depending on how a customer has entered into the system, multiple auto-dealers may provide offers to the customer, enhancing the customer’s confidence that the offers received are fair, further enticing the customer to contact the auto-dealers that provided the offers.

What is claimed is: 
     
         1 . A server facilitating sales from a potential customer to dealers, the server comprising:
 a microprocessor executing instructions stored in memory, and cooperating with a communications interface to facilitate communications with the potential customer over the Internet;   wherein the microprocessor is configured to:   prompt the potential customer to enter information about an item they want to sell or trade into a device used by the potential customer;   determine a maximum predicted retail price for re-sale of the item, based upon a wholesale price for the item, an analysis of market conditions in the market in which a participating dealer operates, and an estimate of how long it will take the participating dealer to re-sell the item once purchased from the potential customer;   from the maximum predicted retail price, determine an offer amount to present to the potential customer by subtracting at least costs to the participating dealer to prepare the item for re-sale and a given amount of profit the participating dealer desires to make off re-sale of the item from the maximum predicted retail price; and   present the offer amount to the potential customer via the device used by the potential customer.   
     
     
         2 . The server of  claim 1 , wherein the microprocessor determines the offer amount by at least subtracting costs to the participating dealer to prepare the item for re-sale, a given amount of profit the participating dealer desires to make off re-sale of the item from the maximum predicted retail price, and diminished value of the item due to condition of the item. 
     
     
         3 . The server of  claim 1 , wherein the microprocessor determines the offer amount by at least subtracting costs to the participating dealer to prepare the item for re-sale and a given amount of profit the participating dealer desires to make off re-sale of the item from the maximum predicted retail price, and adding value represented to the participating dealer due to scarcity of the item to inventory of the participating dealer. 
     
     
         4 . The server of  claim 1 , wherein the microprocessor prompts the potential customer to enter information about the item they want to sell or trade into the device used by the potential customer by requesting that the potential customer capture images of the item from multiple angles and upload those images. 
     
     
         5 . The server of  claim 1 , wherein the microprocessor prompts the potential customer to enter information about the item they want to sell or trade into the device used by the potential customer by requesting that the potential customer take a walk-around video of the item that shows the item from multiple angles, and upload the walk-around video. 
     
     
         6 . The server of  claim 1 , wherein the microprocessor prompts the potential customer to enter information about the item they want to sell or trade into the device used by the potential customer by requesting that the potential customer rate a condition of the exterior and the interior of the item. 
     
     
         7 . The server of  claim 1 , wherein the microprocessor prompts the potential customer to enter information about the item they want to sell or trade into the device used by the potential customer by requesting that the potential customer list value adding options possessed by the item. 
     
     
         8 . The server of  claim 1 , wherein the microprocessor further prompts the potential customer to enter financial information pertaining to the item they want to sell or trade into the device used by the potential customer. 
     
     
         9 . The server of  claim 8 , wherein the financial information pertaining to the item comprises an amount owed by the potential customer to a financial institution on a loan for the item. 
     
     
         10 . The server of  claim 8 , wherein the financial information pertaining to the item comprises an amount owed by the potential customer to a financial institution on a loan for the item and an amount desired by the potential customer for the item. 
     
     
         11 . The server of  claim 8 , wherein the financial information pertaining to the item comprises an amount desired by the potential customer for the item. 
     
     
         12 . The server of  claim 1 , wherein the microprocessor presents the offer amount to the potential customer by presenting the offer amount together with the wholesale price for the item and the costs to the participating dealer to prepare the item for re-sale. 
     
     
         13 . The server of  claim 1 , wherein the microprocessor presents the offer amount to the potential customer by presenting the offer amount together with the wholesale price for the item, the costs to the participating dealer to prepare the item for re-sale, and the given amount of profit the participating dealer desires to make off re-sale of the item. 
     
     
         14 . The server of  claim 1 , wherein the microprocessor is configured to receive from the device of the potential customer a counter-offer after the potential customer has viewed the offer amount on their device. 
     
     
         15 . The server of  claim 1 , wherein the microprocessor is further configured to scan classified ads on the internet to locate items the participating dealer may wish to buy, and send access information for the server to contact information listed in those classified ads advertising items the participating dealer may wish to buy, to thereby make initial contact with the potential customer. 
     
     
         16 . The server of  claim 1 , wherein the microprocessor is configured to, for multiple participating dealers:
 determine a maximum predicted retail price for re-sale of the item for each participating dealer, based upon the wholesale price for the item, an analysis of market conditions in the market in which each participating dealer operates, and an estimate of how long it will take each participating dealer to re-sell the item once purchased from the potential customer;   from the maximum predicted retail price for each participating dealer, determine an offer amount for that participating dealer to present to the potential customer by subtracting at least costs to that participating dealer to prepare the item for re-sale and a given amount of profit that participating dealer desires to make off re-sale of the item from the maximum predicted retail price; and   present the offer amounts from each participating dealer to the potential customer via the device used by the potential customer.   
     
     
         17 . The server of  claim 16 , wherein the microprocessor determines the offer amount for each participating dealer by at least subtracting costs to that participating dealer to prepare the item for re-sale, a given amount of profit that participating dealer desires to make off re-sale of the item from the maximum predicted retail price, and diminished value of the item due to condition of the item. 
     
     
         18 . The server of  claim 16 , wherein the microprocessor determines the offer amount by at least subtracting costs to that participating dealer to prepare the item for re-sale and a given amount of profit that participating dealer desires to make off re-sale of the item from the maximum predicted retail price, and adding value represented to the participating dealer due to scarcity of the item to inventory of that participating dealer. 
     
     
         19 . The server of  claim 1 , wherein the microprocessor is configured to prompt the potential customer to enter information about the item they want to sell or trade in response to the potential customer visiting a website for the participating dealer. 
     
     
         20 . The server of  claim 1 , wherein the microprocessor is configured to prompt the potential customer to enter information about the item they want to sell or trade in response to the potential customer visiting a website for the server. 
     
     
         21 . The server of  claim 1 , wherein the participating dealer is an auto dealer; and wherein the item is a vehicle. 
     
     
         22 . The server of  claim 1 , wherein the item is one of a recreational vehicle, boat, motorcycle, all-terrain vehicle, snowmobile, jetski, airplane, helicopter, golf cart, powersport vehicles, industrial equipment, trailer, toy hauler, camper trailer, jewelry, or luxury watch.