AU2016100643A4 - The DriveLight Platform provides a service whereby users, both buyers and dealers, can reach an agreement on the price and terms of a specific new vehicle sale. The invention centers on the buyer specifying the price they are prepared to pay to purchase the relevant new vehicle, therefore removing the burden of negotiating the vehicle price. By placing a deposit in escrow, the buyer is signaling a commitment to the offer, providing reassurance to the dealer. The dealer is able to instantly accept a buyer’s offer and receive the buyer’s deposit, locking in the sale in a timely manner. - Google Patents

Abstract

The disclosed DriveLight Platform provides a service whereby users, both buyers and dealers, can reach an agreement on the price and terms of a specific new vehicle sale. The invention centers on the buyer specifying the price they are prepared to pay to purchase the relevant new vehicle, therefore removing the burden of negotiating the vehicle price with a dealer. By placing a deposit in escrow, the buyer is signaling a commitment to the offer, providing reassurance to the dealer. The dealer is able to instantly accept a buyer's offer and receive the buyer's deposit, effectively locking in the sale in a timely manner. The online DriveLight Platform gives buyers access to dealers they may not have otherwise been able to access due to geographic constraints, and vice-versa. The method is capable of application to any vehicle, including water vehicles such as boats, or consumer product where price negotiation is viewed with distaste, and the product in question can be sufficiently specified. = -0 _n -L gg 0 O (D0aa - '- (D .. .. . .. . =O3) c00 C3) =3 0D (D NC 0 0 0 Ds =n (D ca 5 07 -n 0 .. .. .. .. 0 0 wn C) 0D 80 acD) aD 0=c0 0oJ 0 0D ) a 0 00N)(D 0 =O C) o 0D -n (. -D --(D= W

Description

TITLE

DriveLight Platform FIELD

The invention uses a web based application and related methods (hereinafter referred to as “DriveLight”, “DriveLight Platform” or “platform”) to enable a person to form an agreement with motor vehicle dealer on the purchase price of a specific new vehicle, on fixed terms, online and with anonymity.

BACKGROUND

[0001] This invention has been specifically devised to provide the ability for consumers and businesses (hereinafter referred to as buyers) who are willing to commit to a specific vehicle purchase, to specify a vehicle and the price they are willing to pay (“offer”) for the specific vehicle on fixed terms specified by DriveLight. The offer is then made available for acceptance via DriveLight to all new car dealers in Australia able to supply that brand of vehicle. The purpose of this process is to remove the significant problem of price negotiation for buyers of new cars. When placing an offer, the buyer places a fixed partial payment (deposit) in escrow with DriveLight, which is then transferred to the dealer via electronic funds transfer as partial payment toward the vehicle if a dealer accepts the buyers offer. As a result, dealers can be certain that buyer’s are serious about purchasing the vehicle and are likely to proceed if the dealer accepts the offer, as currently dealers have no such certainty. In accepting the offer, the dealer agrees to meet the terms of the sale as specified by the buyer in their offer, and as specified by DriveLight in the set terms of the agreement. Both the buyer and the dealer remain anonymous until acceptance by a dealer. The parties are disclosed to one another immediately following acceptance. DriveLight facilitates a counter-offer process, where a dealer can counter a buyers offer with a limited set of specification variables. The counter offer is put to the customer via DriveLight for acceptance. In the case of a counter offer, if the customer accepts the variation in terms, the agreement is completed, deposit is transferred to the dealer, and parties disclosed to one another.

[0002] The first aspect of the method consists of the buyer using DriveLight data (of all new vehicles, available for sale in Australia at any given time) to specify the vehicle they wish to purchase, including colour and options. The specification process includes determining registration costs, government charges, and dealer delivery charges relevant to the vehicle purchase. The customer is then required to specify the drive-away price they are willing to pay, and lodge a partial payment (deposit) to be held in escrow by DriveLight. In placing an offer on the platform, the customer agrees to the set terms specified by DriveLight, including delivery of the new vehicle within a set period of time and to a set location. The offer is then made available to all new car dealers in Australia for acceptance via DriveLight.

[0003] The second aspect of the method involves new vehicle dealers evaluating offers via DriveLight and selecting those purchase offers to accept. In accepting an offer, a dealer agrees to deliver a vehicle, as specified by the buyer in their offer, and in accordance with the terms set by DriveLight in the terms and conditions. Once accepted the dealer will receive the deposit held in escrow by DriveLight via transfer to their DriveLight account. The buyer and the dealers are introduced via DriveLight and contact details exchanged. The parties are then clear to finalise the new vehicle sale in accordance with the set terms of the agreement. DriveLight enables new car dealers to make a counter offer to the buyer if they are able to supply a vehicle that is similar, but varies in specification to that specified by the buyer in their offer. There is a limited subset of variables on which a dealer can counter offer, for example colour. Such a counter offer is made available to the customer for acceptance at their discretion.

SUMMARY

Technical Problem [0004] The non-existence of a specific method enabling buyers to bypass the price negotiation stage of purchasing a new vehicle, and find a new vehicle dealer willing to meet a buyers specified price and sale terms Australia wide.

[0005] Buyers find price negotiation difficult, intimidating and time consuming, and want to be able to buy new cars without price negotiation, yet not have to pay the full price on offer from new car dealers. Price negotiation is a significant friction point in the new vehicle purchase process. New vehicle dealers are often prepared to sell vehicles below their normal offer prices when they need incremental additional sales to meet targets or objectives. Locating committed buyers in a timely manner, and negotiating the sale price and terms, is a persistent problem for new vehicle dealers.

Solution [0006] The invention overcomes the shortfalls stated above by providing a method whereby a buyer can offer a price (below new car offer price) at which they are willing to purchase a specific new vehicle. The buyer commits to their purchase intent with a significant deposit payment. Any dealer that is able to supply the buyers specified vehicle at the buyers specified price and in accordance with the terms set out by DriveLight is able to accept the buyer’s offer, and receive the buyer’s deposit as a commitment to the agreement. The dealer is able to lock in a vehicle sale in a timely manner. Additionally, a dealer prepared to supply a vehicle with limited specification variation is able to make a counter offer to a buyer, to which a buyer has the option of accepting.

Advantageous effect of Invention [0008] The effects of the existence of the invention are advantageous to buyers, who will as a result of the DriveLight Platform be able to connect with a dealer willing to supply their specified new vehicle at a price they specify, without having to negotiate on price. It is conceivable that as a result of the invention, buyers will be able to secure their specified new vehicle at a price well below the prices offered on equivalent new vehicles in the market. By removing the price negotiation stage of the new vehicle purchase process, the invention overcomes a significant problem for buyers seeking to avoid this process. In making a buyers offer available to all new car dealers in Australia, the invention advantages the buyer by providing access to wider pool of competitive new vehicle dealers, than would otherwise be available through traditional approaches, increasing the likelihood of finding a dealer willing to meet the offer price and terms. By allowing dealers to counter offer alternate vehicles with different specifications, the invention increases the likelihood of a buyer finding a vehicle that satisfies their objectives.

[0009] The invention presents many new advantages to participating new vehicle dealers by providing timely access to a pool of committed buyers, and the ability to immediately lock in a sale agreement with a buyer if they are able to meet the buyers offer price and terms. By providing access to buyers Australia wide, the invention allows dealers to access a much larger pool of buyers than would otherwise be available through existing processes. The invention allows dealers to make vehicles with different specifications available to buyers via a counter offer process, increasing the likelihood of finding a willing buyer.

Brief Description of Drawings [0010] FIG. 1 is a schematic view of a buyer offer placement and registration process.

[0011] FIG. 2 is a schematic view of a dealer registration and offer acceptance or counter offer process.

[0012] FIG. 3 is a schematic view of a buyer deposit payment, escrow, dealer payment and referral fee process.

[0013] FIG. 4 is a schematic view of user notification system process.

[0014] FIG. 5 is a schematic view of the affiliate referral process DESCRIPTION OF EMBODIMENTS

[0015] The method created and used in the invention may be better understood with reference to the drawings below which display the embodiments of the invention.

The following detailed description is directed to certain specific embodiments of the invention. In this description, reference is made to the drawings wherein like parts are designated with like numerals throughout.

[0016] Unless otherwise noted in this specification or in the claims, all of the terms used in the specification and the claims will have the meanings normally ascribed to these terms by workers in the art.

[0017] Unless the context clearly requires otherwise, throughout the description and the claims, the words "comprise," "comprising" and the like are to be construed in an inclusive sense as opposed to an exclusive or exhaustive sense; that is to say, in a sense of "including, but not limited to." Words using the singular or plural number also include the plural or singular number, respectively. Additionally, the words "herein," "above," "below," and words of similar import, when used in this application, shall refer to this application as a whole and not to any particular portions of this application.

[0018] The following detailed description of embodiments of the invention is not intended to be exhaustive or to limit the invention to the precise form disclosed herein. While specific embodiments of, and examples for, the invention are described for illustrative purposes, various equivalent modifications are possible within the scope of the invention, as those skilled in the relevant art will recognize. For example, while steps are presented in a given order, alternative embodiments may perform routines having steps in a different order. The teachings of the invention provided herein can be applied to other systems, not only the systems described herein. The various embodiments described herein can be combined to provide further embodiments. These and other changes can be made to the invention in light of the detailed description.

[0019] In general, the terms used in the following claims, should not be construed to limit the invention to the specific embodiments disclosed in the specification, unless the above detailed description explicitly defines such terms. Accordingly, the actual scope of the invention encompasses the disclosed embodiments and all equivalent ways of practicing or implementing the invention under the claims.

[0020] Referring to FIG. 1, a buyer enters the web based application at DriveLight.com and selects the make a model of car they want to buy, 100. The buyer moves to the next step in the selection process, 101 within which the buyer can narrow their selection to a specific variant of the particular model of vehicle via a display panel of all available variants within that model designation. The buyer can further narrow the display panel by selecting their chosen vehicle body shape, engine and transmission variations. It is possible for the buyer to enter the web application at 101 and bypass 100. At 102 the buyer is able to select factory options they wish to add, and their chosen color of vehicle. The buyer can nominate the registration jurisdiction where they will register the vehicle. The total retail price including on-road costs and dealer delivery charges is shown at 103, and the buyer is able to enter an offer price for the chosen vehicle using direct input or slider functions. The discount relative to the retail price is shown. The buyer is then required to confirm their offer, including adding any dealership special instructions.

[0021] The buyer is required to register as an individual or a business at 104 by entering relevant contact details and specific information. The buyer is required to enter credit card details to pay a fixed deposit amount to be held in escrow by DriveLight, via a payment gateway. Following registration and payment of a deposit, a buyer dashboard is created, 105, where the buyer is able to view, modify or cancel their offer. The dashboard is accessible via individual login.

[0022] Referring to FIG. 2, a dealer enters the web application at DriveLight.com elects to register as a dealer on the platform 106. The dealer must complete the first of 2 stages of registration in order to view offers from buyers. Dealers are able to select the brand of vehicles and the geographical location for which offers are placed. Following the first stage of registration, a dealer dashboard is created, accessible via individual login, within which the dealer can view buyer offers, 107. In order for the dealer to accept buyer offers or to make a counter offer, the dealer must complete stage two of the registration process 108. As part of stage two registration, the dealer must establish a DriveLight account within the payment gateway to facilitate transfer of buyers deposit and charging of DriveLight referral fees, 109. The second stage of the registration process includes a a systematic validation of the dealers bona fides 110. Following stage two of the registration process, the dealer is able to accept offers and make counter offers on DriveLight, and modify counter offers or account details. The dashboard contains a history of orders accepted or counter offers that have been accepted, 111.

[0023] Referring to FIG. 3, A customer pays a deposit amount to DriveLight via a payment gateway at the time of placing their offer, 112. The deposit is held in escrow by DriveLight pending the outcome of the offer, 113. If the buyer cancels the order at any time before the offer has been accepted, the deposit amount is refunded in full to the buyer via the same credit card payment facility, 114. If a dealer accepts the customers offer, or if the customer accepts a counter offer from a dealer, 115, the deposit amount held by DriveLight is transferred to the dealers DriveLight account within the payment gateway. The dealers account is controlled by the dealer and they have the ability to retrieve funds by electronic funds transfer to their nominated bank account, 116. At the same time as the deposit is transferred to the dealers account, DriveLight charges the dealer a referral fee for arrangement of the sale agreement, 117.

[0024] Referring to FIG. 4, When a buyer or a dealer completed registration, 118, a notification is sent by DriveLight as confirmation of the registration, and forming a record of the registrants login credentials, 123. When a buyer completes a offer, 119, a confirmation notification is sent to the buyer, containing a record of the offer and the relevant terms and conditions, and an alert notification is sent to dealers who are registered to see offers on the relevant brand, and in the relevant geographic location, 124. If a dealer makes a counter offer to a buyers purchase offer, 120, a confirmation notification is sent to the dealer containing a record of the counter offer and the relevant terms and conditions, and an alert is sent to the buyer, containing details of the relevant variation from their original offer, and an invitation to accept the counter offer, 125. If a buyer offer remain unaccepted on the DriveLight Platform for a set period, 121, a notification is sent to the buyer inviting them to increase their offer price. These notifications will continue to occur at set intervals, 126. If a dealer accepts a buyers offer, or a buyer accepts a dealers counter offer, a notification is sent to both the dealer and the buyer containing a record of the accepted offer, the relevant terms and conditions, and the contact details of both parties to the agreement, 127. At this stage in the process, a finance broker is introduced to the buyer to facilitate sales of finance related products. A notification is sent to the finance broker containing details of the accepted offer, and the buyers contact details, 128.

[0025] Referring to FIG. 5, Individuals or organisations are encouraged to refer buyers to to DriveLight, by offering referral commissions via an affiliate referral process built in to the platform, 129. In the first instance and individual or organization representative would visit DriveLight and register as a referer, 130. Once registration is complete, the system will provide an individual referrer code, 131. Referrers are encouraged to share their referrer code with potential buyers with the objective of earning referral commissions. If a buyer uses the referral code in the registration process, 132, and their offer is accepted or they accept a counter offer, the referrer will be systematically paid a fixed referral commission via electronic funds transfer, 133.

Claims (5)

1. The invention consists of a method which has two aspects. The first aspect of the method allows a buyer to make an offer to buy a specific vehicle at a price that the buyer nominates, and on terms that are set by the DriveLight Platform. The invention allows the buyer to make a purchase offer available for acceptance by all dealers Australia wide, rather than limiting the buyer to a specific region. The second aspect of the invention allows dealers to view customer offers for vehicles that they are able to supply and facilitates dealers to accept those buyer offers or make counter offers on limited specification variations. The invention enables dealers to reach buyers they may not have otherwise geographically had access to and to add incremental sales volume by accepting buyer offers that are below their retail offer prices.

2. The DriveLight Platform as claimed in Claim 1 enables buyers to reach a sale agreement with a new vehicle dealer without having to negotiate on price in the traditional way, while remaining anonymous.

3. The DriveLight Platform as claimed in Claim 1 provides a mechanism whereby dealers can accept purchase offers from buyers anywhere in Australia, if they are able to meet the terms of the offer, and immediately receive a deposit commitment from the buyer.

4. The DriveLight Platform as claimed in Claim 1 is further characterised by the buyer placing a deposit in escrow with DriveLight representing their commitment to the purchase offer. The dealer can be more certain that if they accept the offer from the buyer, they have a committed buyer who is prepared to complete the sale agreement.

5. The DriveLight Platform as claimed in Claim 1 is a fully automated online web based application operating Australia wide. This enables dealers to access buyers from any location at any time and, and similarly enables buyers to access vehicle dealers regardless of location, or operating hours.