JOAN M FALLS
Vehicle Board in Tivoli, PA
License number
Pennsylvania MV101050L
Category
Vehicle Board
Type
Vehicle Salesperson
Address
Address
Tivoli, PA 17737
Professional information
Method And System For Leasing Motor Vehicles To Credit Challenged Consumers
US Patent:
7860764, Dec 28, 2010
Filed:
Oct 18, 2001
Appl. No.:
10/002948
Inventors:
Blaise Alexander - Montoursville PA, US
Joan M. Falls - Hughesville PA, US
Les Puglia - Center Ossipee NH, US
Matthew Yeager - Muncy PA, US
Joan M. Falls - Hughesville PA, US
Les Puglia - Center Ossipee NH, US
Matthew Yeager - Muncy PA, US
International Classification:
G06Q 40/00
US Classification:
705 35, 705 40
Abstract:
A system is provided for leasing motor vehicles to credit challenged consumers or consumers that do not qualify for conventional financing. The system utilizes a short term prepaid lease in combination with a device utilizing microprocessor technology installed in the motor vehicle to encourage payment. The consumer pays in advance to use the motor vehicle for a predetermined lease period. If the consumer does not make the prepayment, the device installed in the vehicle prevents the vehicle from operating. The system is used to make a determination as to the amount of a weekly payment a credit challenged consumer (“Consumer”) can afford. Using the weekly payment amount, the system then extrapolates the value of a vehicle appropriate for the Consumer's payment ability. Once the lease has been executed, a predetermined operating time is loaded into the device, which is connected to the vehicle's ignition system. The device renders the ignition system inoperable upon there being no authorized operating time remaining in the device.