Lease Calculation Interface for a Vehicle Transfer Transaction
A vehicle transfer system provides a transaction interface that is displayed as part of a web page for a vehicle on a vehicle dealer's website. The transaction interface allows a customer to perform a vehicle transfer transaction on the dealer's website. The system can facilitate multiple financing methods for the transaction. If the transaction is financed with a loan, the system can request loan offers for a plurality of different loan terms and down payment amounts, and then provide a loan selection interface, which allows the customer to select a loan term and down payment amount and then displays the loan offers matching the customer's selections. If the transaction is financed with a lease, the system can perform a leasing calculation that solves for a balancing point between the total upfront capital that is available to the customer and the total expenses due at lease signing.
1 . A method comprising:
determining a gross capitalized cost for a vehicle to be transferred from a vehicle dealer to a customer as part of a vehicle transfer transaction;
providing, for display to a customer on a customer device, a lease calculation interface comprising interface elements allowing the customer to select one or more lease parameters for a lease, the lease financing the vehicle transfer transaction;
receiving, from the customer device, a set of lease parameters selected by the customer through interactions with the interface elements, the set of lease parameters comprising a lease term;
dividing an available upfront capital amount into a first portion and a second portion, the first portion to be allocated to a capitalized cost reduction, the second portion to be allocated to expenses to be paid at a beginning of the lease term, wherein the available upfront capital comprises a sum of at least one of a cash down payment, a value of a trade-in vehicle, and a rebate available for the vehicle, and wherein the second portion matches the total amount of the expenses;
calculating a monthly lease payment amount based on the lease term, a residual value of the vehicle after the lease term, the gross capitalized cost, and the capitalized cost reduction; and
providing the monthly lease payment amount for display to the customer on the customer device.
2 . The method of claim 1 , wherein the gross capitalized sum is a sum of a plurality of values, the values comprising a retail price of the vehicle obtained by sending a request to an application programming interface of a vehicle manufacturer associated with the vehicle.
3 . The method of claim 2 , the values further comprising a discount on the vehicle offered by the vehicle dealer, the discount generated based on information obtained by performing a web scraping process on a website operated by the vehicle dealer.
4 . The method of claim 1 , wherein a rebate available for the vehicle is obtained by performing a web scraping process on a website operated by the vehicle dealer.
5 . The method of claim 1 , wherein dividing the available upfront capital amount into the first portion and the second portion comprises:
dividing an upfront cash amount into a first portion and a second portion; and
dividing a rebate amount into a first portion and a second portion.
6 . The method of claim 1 , wherein calculating the monthly lease payment amount comprises:
receiving a measure of creditworthiness for the customer; and
receiving a lease rate for the lease, the lease rate selected based on the measure of creditworthiness.
7 . The method of claim 6 , wherein the measure of creditworthiness is a credit score received from a credit reporting agency.
8 . The method of claim 6 , wherein the measure of creditworthiness is a range of credit scores received as user input from the customer on the customer device.
9 . The method of claim 1 , further comprising:
after providing the monthly lease payment amount for display to the customer on the customer device, receiving, from the customer device, a second set of lease parameters, at least one lease parameter in the second set of lease parameters having a different value than a corresponding lease parameter in the initial set of lease parameters; and
after receiving the second set of lease parameters, providing, for display to the customer on the customer device in the lease calculation interface, an updated monthly lease payment generated based on the second set of lease parameters.
10 . A non-transitory computer-readable storage medium having instructions stored thereon, the instructions when executed by a processor causing the processor to perform operations comprising:
determining a gross capitalized cost for a vehicle to be transferred from a vehicle dealer to a customer as part of a vehicle transfer transaction;
providing, for display to a customer on a customer device, a lease calculation interface comprising interface elements allowing the customer to select one or more lease parameters for a lease, the lease financing the vehicle transfer transaction;
receiving, from the customer device, a set of lease parameters selected by the customer through interactions with the interface elements, the set of lease parameters comprising a lease term;
dividing an available upfront capital amount into a first portion and a second portion, the first portion to be allocated to a capitalized cost reduction, the second portion to be allocated to expenses to be paid at a beginning of the lease term, wherein the available upfront capital comprises a sum of at least one of a cash down payment, a value of a trade-in vehicle, and a rebate available for the vehicle, and wherein the second portion matches the total amount of the expenses;
calculating a monthly lease payment amount based on the lease term, a residual value of the vehicle after the lease term, the gross capitalized cost, and the capitalized cost reduction; and
providing the monthly lease payment amount for display to the customer on the customer device.
11 . The non-transitory computer-readable storage medium of claim 10 , wherein the gross capitalized sum is a sum of a plurality of values, the values comprising a retail price of the vehicle obtained by sending a request to an application programming interface of a vehicle manufacturer associated with the vehicle.
12 . The non-transitory computer-readable storage medium of claim 11 , the values further comprising a discount on the vehicle offered by the vehicle dealer, the discount generated based on information obtained by performing a web scraping process on a website operated by the vehicle dealer.
13 . The non-transitory computer-readable storage medium of claim 10 , wherein a rebate available for the vehicle is obtained by performing a web scraping process on a website operated by the vehicle dealer.
14 . The non-transitory computer-readable storage medium of claim 10 , wherein dividing the available upfront capital amount into the first portion and the second portion comprises:
dividing an upfront cash amount into a first portion and a second portion; and
dividing a rebate amount into a first portion and a second portion.
15 . The non-transitory computer-readable storage medium of claim 10 , wherein calculating the monthly lease payment amount comprises:
receiving a measure of creditworthiness for the customer; and
receiving a lease rate for the lease, the lease rate selected based on the measure of creditworthiness.
16 . The non-transitory computer-readable storage medium of claim 15 , wherein the measure of creditworthiness is a credit score received from a credit reporting agency.
17 . The non-transitory computer-readable storage medium of claim 15 , wherein the measure of creditworthiness is a range of credit scores received as user input from the customer on the customer device.
18 . The non-transitory computer-readable storage medium of claim 10 , the operations further comprising:
after providing the monthly lease payment amount for display to the customer on the customer device, receiving, from the customer device, a second set of lease parameters, at least one lease parameter in the second set of lease parameters having a different value than a corresponding lease parameter in the initial set of lease parameters; and
after receiving the second set of lease parameters, providing, for display to the customer on the customer device in the lease calculation interface, an updated monthly lease payment generated based on the second set of lease parameters.
19 . A computing system comprising:
a processor; and
a non-transitory computer-readable storage medium having instructions stored thereon, the instructions when executed by the processor causing the processor to perform operations comprising:
determining a gross capitalized cost for a vehicle to be transferred from a vehicle dealer to a customer as part of a vehicle transfer transaction,
providing, for display to a customer on a customer device, a lease calculation interface comprising interface elements allowing the customer to select one or more lease parameters for a lease, the lease financing the vehicle transfer transaction,
receiving, from the customer device, a set of lease parameters selected by the customer through interactions with the interface elements, the set of lease parameters comprising a lease term,
dividing an available upfront capital amount into a first portion and a second portion, the first portion to be allocated to a capitalized cost reduction, the second portion to be allocated to expenses to be paid at a beginning of the lease term, wherein the available upfront capital comprises a sum of at least one of a cash down payment, a value of a trade-in vehicle, and a rebate available for the vehicle, and wherein the second portion matches the total amount of the expenses,
calculating a monthly lease payment amount based on the lease term, a residual value of the vehicle after the lease term, the gross capitalized cost, and the capitalized cost reduction, and
providing the monthly lease payment amount for display to the customer on the customer device.
20 . The computing system of claim 19 , wherein the gross capitalized sum is a sum of a plurality of values, the values comprising a retail price of the vehicle obtained by sending a request to an application programming interface of a vehicle manufacturer associated with the vehicle.