System and method for submitting an offer to purchase over a network-based commerce facility

Abstract

A system and method to facilitate a transaction in a network-based commerce facility is provided. The method includes presenting a plurality of listings to a user, and monitoring selection of one of the plurality of listings by the user. Thereafter, the user is provided with an indication of an equivalent periodic payment of a plurality of periodic payments associated with an offer to purchase. In one embodiment, the user is provided with an option to conclude the transaction for the selected listing based on a plurality of periodic payments. In certain embodiments, the network-based commerce facility is a web-based auction facility where the offers are in the form of bids. Accordingly, in this embodiment, the periodic payment may be a monthly payment and the products are movable goods such as motor vehicle, motorcycles, watercraft, or the like.

1 . A computer implemented method comprising:
 presenting a plurality of listings to a user;   monitoring selection of one of the plurality of listings by the user to identify a selected listing;   presenting the user with periodic payment data based on pre-determined financing data, wherein the periodic payment data informs the user of a cost associated with the selected listing based on periodic payments; and   presenting the user with a transaction option, the transaction option being based on periodic payments.   
     
     
         2 . The method of  claim 1  including receiving a transaction offer from the user based on the transaction option being based on periodic payments. 
     
     
         3 . The method of  claim 1  wherein the transaction option includes one of: a bid offer, a lease offer, and an installment purchase offer. 
     
     
         4 . The method of  claim 1 , wherein the plurality of listings are presented to the user in a web-based auction facility. 
     
     
         5 . The method of  claim 1 , wherein the periodic payments are monthly payments. 
     
     
         6 . The method of  claim 1 , wherein the plurality of listings optionally have associated insurance costs, the periodic payment data including the associated insurance costs. 
     
     
         7 . The method of  claim 1 , including presenting the user with a bid option being an option to bid based on a single payment. 
     
     
         8 . The method of  claim 3 , wherein acceptance of a bid associated with the bid offer based on periodic payments is dependent upon personal information of the user. 
     
     
         9 . The method of  claim 1 , including:
 presenting the user with an option to obtain financing to finance a transaction associated with the selected listing;   prompting the user for personal information of the user;   communicating a request for financing to a financing facility; and   selectively allowing the user to conclude a transaction for the selected listing based on a bid from the user based on the transaction option based on periodic payments.   
     
     
         10 . The method of  claim 1 , including:
 receiving financing data from a financing facility;   identifying from the financing data a maximum bid based on the periodic payments to effect a transaction, the maximum bid being uniquely associated with the user; and   allowing the user to bid on the selected listing up to the maximum bid.   
     
     
         11 . The method of  claim 1 , including presenting the user with a calculator interface to estimate the periodic payments. 
     
     
         12 . A machine-readable medium embodying a set of instructions, the instructions when executed causing the machine to:
 present a plurality of listings to a user;   monitor selection of one of the plurality of listings by the user to identify a selected listing;   present the user with periodic payment data based on pre-determined financing data, wherein the periodic payment data informs the user of a cost associated with the selected listing based on periodic payments; and   present the user with a transaction option, the transaction option being based on periodic payments.   
     
     
         13 . The machine-readable medium of  claim 12 , wherein the instructions being operable to cause the machine to receive a transaction offer from the user based on the transaction option being based on periodic payments. 
     
     
         14 . The machine-readable medium of  claim 12 , wherein the transaction option includes one of: a bid offer, a lease offer, and an installment purchase offer. 
     
     
         15 . The machine-readable medium of  claim 12 , wherein the plurality of listings are presented to the user in a web-based auction facility. 
     
     
         16 . The machine-readable medium of  claim 12 , wherein the periodic payments are monthly payments. 
     
     
         17 . The machine-readable medium of  claim 12 , wherein the plurality of listings optionally have associated insurance costs, the periodic payments including the associated insurance costs. 
     
     
         18 . The machine-readable medium of  claim 12 , wherein the instructions being operable to cause the machine to present the user with a bid option being an option to bid based on a single payment. 
     
     
         19 . The machine-readable medium of  claim 14 , wherein acceptance of a bid associated with the bid offer based on periodic payments is dependent upon personal information of the user. 
     
     
         20 . The machine-readable medium of  claim 12 , wherein the instructions being operable to cause the machine to:
 present the user with an option to obtain financing to finance a transaction associated with the selected listing;   prompt the user for personal information of the user;   communicate a request for financing to a financing facility; and   selectively allow the user to conclude a transaction for the selected listing based on a bid from the user based on the transaction option based on periodic payments.   
     
     
         21 . The machine-readable medium of  claim 12 , wherein the instructions being operable to cause the machine to:
 receive financing data from a financing facility;   identify from the financing data a maximum bid based on the periodic payments to effect a transaction, the maximum bid being uniquely associated with the user; and   allow the user to bid on the selected listing up to the maximum bid.   
     
     
         22 . The machine-readable medium of  claim 12 , wherein the instructions being operable to cause the machine to present the user with a calculator interface to estimate the periodic payments. 
     
     
         23 . A system comprising:
 a database including a plurality of listings; and
 at least one server to:
 present a plurality of listings to a user; 
 monitor selection of one of the plurality of listings by the user to identify a selected listing; 
 present the user with periodic payment data based on pre-determined financing data, wherein the periodic payment data informs the user of a cost associated with the selected listing based on periodic payments; and 
 present the user with a transaction option, the transaction option being based on periodic payments. 
 
   
     
     
         24 . The system of  claim 23 , being operable to receive a transaction offer from the user based on the transaction option being based on periodic payments. 
     
     
         25 . The system of  claim 23 , wherein the transaction option includes one of: a bid offer, a lease offer, and an installment purchase offer. 
     
     
         26 . The system of  claim 23 , wherein the plurality of listings are presented to the user in a web-based auction facility, 
     
     
         27 . The system of  claim 23 , wherein the periodic payments are monthly payments. 
     
     
         28 . The system of  claim 23 , wherein the plurality of listings optionally have associated insurance costs, the periodic payments including the associated insurance costs. 
     
     
         29 . The system of  claim 23 , being operable to present the user with a bid option being an option to bid based on a single payment. 
     
     
         30 . The system of  claim 25 , wherein acceptance of a bid associated with the bid offer based on periodic payments is dependent upon personal information of the user. 
     
     
         31 . The system of  claim 23 , being operable to:
 present the user with an option to obtain financing to finance a transaction associated with the selected listing;   prompt the user for personal information of the user;   communicate a request for financing to a financing facility; and   selectively allow the user to conclude a transaction for the selected listing based on a bid from the user based on the transaction option based on periodic payments.   
     
     
         32 . The system of  claim 23 , being operable to:
 receive financing data from a financing facility;   identify from the financing data a maximum hid based on the periodic payments to effect a transaction, the maximum bid being uniquely associated with the user; and   allow the user to bid on the selected listing up to the maximum bid.   
     
     
         33 . The system of  claim 23 , being operable to present the user with a calculator interface to estimate the periodic payments. 
     
     
         34 . An apparatus comprising:
 means for storing a plurality of listings;   means for selectively presenting the plurality of listings to a user;   means for monitoring selection of one of the plurality of listings by the user to identify a selected listing;   means for presenting the user with periodic payment data based on pre-determined financing data, wherein the periodic payment data informs the user of a cost associated with the selected listing based on periodic payments; and   means for presenting the user with a transaction option, the transaction option being based on periodic payments.   
     
     
         35 . The apparatus of  claim 34 , including means for receiving a transaction offer from the user based on the transaction option being based on periodic payments. 
     
     
         36 . The apparatus of  claim 34 , wherein the transaction option includes one of: a bid offer, a lease offer, and an installment purchase offer. 
     
     
         37 . The apparatus of  claim 34 , wherein the plurality of listings are presented to the user in a web-based auction facility. 
     
     
         38 . The apparatus of  claim 34 , wherein the periodic payments are monthly payments. 
     
     
         39 . The apparatus of  claim 34 , wherein the plurality of listings optionally have associated insurance costs, the periodic payment data including the associated insurance costs.