NZ602829A - A system and method of acquiring instant credit - Google Patents

Abstract

602829 A method and a system for providing instant credit to a customer of a vehicle dealership via a communications network are disclosed. The system comprises a database, a credit aggregation management system coupled to the database and in communication with a computer associated with at least one financial source over the communication network and a credit acquisition application program coupled to the credit aggregation management system and in communication with a computer associated with the credit card institution over the communication network. The database maps the vehicle dealership to at least one financial source based on the customer seeking from the at least one financial source a first credit pre-approval for an acquisition. The credit aggregation management system receives credit application information for a computer, generates a first credit application based on the credit application information for submission to the at least one financial source, submits the first credit application to the at least one financial source on behalf of the customer seeking the first credit pre-approval based on the database, and receives the first credit pre-approval from the at least one financial source. The credit acquisition application program generates a second credit application based on at least a portion of the received credit application information, submits the second credit application to the credit card institution and receives a second credit pre-approval from the credit card institution.