Total cost of vehicle ownership

• US 10,332,208 B1
• Filed: 08/23/2012
• Issued: 06/25/2019
• Est. Priority Date: 08/23/2012
• Status: Active Grant

• Current Assignee: Allstate Insurance Company (Allstate Corporation)
• Original Assignee: Allstate Insurance Company (Allstate Corporation)
• Inventors: Loo, William, Hughes, Stephen, Gillespie, James, Brandmaier, Jennifer A., Koza, Daniel
• Primary Examiner(s): King, Joseph W.
• Application Number:
  US13/592,413
• Time in Patent Office: 2,497 Days
• Field of Search: None
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A total cost of ownership (TCO) of a vehicle may be calculated based on received information identifying a vehicle, and retrieved vehicle data corresponding to the vehicle, such as vehicle insurance records, maintenance records, and vehicle operation sensor data. Additional information may be received identifying one or more entities associated with the vehicle, for example, a potential buyer and a potential seller of the vehicle Data may be retrieved corresponding to the entities associated with the vehicle, and a TCO calculation for a vehicle may be based on the vehicle data and additional information retrieved corresponding to the entities associated with the vehicle.

Claims

1. A system comprising:

a plurality of first vehicle operational sensors attached to a first vehicle of a prospective seller, each of the plurality of first vehicle operational sensors being configured to record at least one operational parameter of the first vehicle;

a plurality of second vehicle operational sensors attached to a second vehicle of a prospective buyer of the first vehicle, each of the plurality of second vehicle operational sensors being configured to record at least one operational parameter of the second vehicle;

a mobile device comprising a camera, the mobile device configured to execute a total cost of ownership application to capture, using the camera, a digital image; and

one or more vehicle cost estimation servers comprising;

at least one hardware processor; and

memory storing computer-executable instructions that, when executed by the at least one hardware processor, cause the one or more vehicle cost estimation servers to;

receive, via a network from at least one of the plurality of first vehicle operational sensors, first vehicle operational data;

receive, via the network from at least one of the plurality of second vehicle operational sensors, second vehicle operational data;

store the first vehicle operational data and the second vehicle operational data in a first database;

receive seller identification information identifying the prospective seller of the first vehicle and buyer identification information identifying the prospective buyer of the first vehicle;

retrieve, based on the seller identification information, seller driver data;

retrieve, based on the buyer identification information, buyer driver data, wherein the buyer driver data is based at least on a portion of the second vehicle operational data;

receive, via a wireless communication network from the mobile device, the digital image;

analyze the received digital image to determine vehicle identification information identifying the first vehicle;

retrieve, from the first database based on the vehicle identification information, a portion of the first vehicle operational data that is previously collected for the first vehicle;

retrieve, from a second database based on the vehicle identification information, one or more insurance records of insurance claims previously filed in association with the first vehicle;

retrieve, from a third database based on the vehicle identification information, one or more maintenance records of maintenance previously performed on the first vehicle;

retrieve, from a fourth database based on the vehicle identification information, a mile-per-gallon rating for the first vehicle;

determine, based on the buyer driver data, that the prospective buyer has a specific driving habit;

decrease the mile-per-gallon rating for the first vehicle in response to a determination that the prospective buyer has the specific driving habit to obtain a decreased mile-per-gallon rating;

estimate, using the decreased mile-per-gallon rating, a fuel cost associated with the prospective buyer driving the first vehicle;

calculate, based on the estimated fuel cost, the one or more insurance records, the one or more maintenance records, the seller driver data, and the portion of the first vehicle operational data, a total cost of ownership for the first vehicle, including a cost of insuring, fueling, and maintaining the first vehicle throughout ownership by the prospective buyer of the first vehicle; and

transmit, to the mobile device via a wireless communication network, the calculated total cost of ownership for the first vehicle.

2. The system of claim 1,

wherein the digital image includes a representation of at least one of:

a vehicle identification number (VIN) tag of the first vehicle,

a barcode associated with a VIN tag of the first vehicle, or

a VIN associated with a VIN tag of the first vehicle; and

wherein analyzing the digital image to determine the vehicle identification information comprises using an image processing technique on the digital image to determine the VIN of the first vehicle.

3. The system of claim 1, wherein the seller driver data comprises at least one of:

driving record data for the prospective seller,

demographic data for the prospective seller,

one or more insurance policy preferences of the prospective seller,

one or more additional insurance records associated with the prospective seller,

one or more additional maintenance records for one or more additional vehicles associated with the prospective seller, or

additional vehicle operational data collected by a plurality of third vehicle operational sensors that are attached to an additional vehicle of the prospective seller.

4. The system of claim 3, wherein the buyer driver data comprises at least one of:

driving record data for the prospective buyer,

demographic data for the prospective buyer,

one or more insurance policy preferences of the prospective buyer,

one or more additional insurance records associated with one or more additional vehicles owned by the prospective buyer, or

one or more additional maintenance records for one or more additional vehicles associated with the prospective buyer.

5. The system of claim 1,

wherein the seller driver data comprises demographic data for the prospective seller and wherein the portion of the first vehicle operational data comprises rates of acceleration or braking of the first vehicle, and

wherein the buyer driver data comprises demographic data for the prospective buyer and wherein the portion of the second vehicle operational data comprises rates of acceleration or braking of the second vehicle.

6. The system of claim 1, wherein the computer-executable instructions, when executed, further cause the one or more vehicle cost estimation servers to:

retrieve a user preference of the prospective buyer of the first vehicle, the user preference indicating a deductible of an insurance policy for the first vehicle; and

estimate, using the deductible, an insurance cost for insuring the first vehicle throughout ownership by the prospective buyer of the first vehicle,

wherein the total cost of ownership for the first vehicle is further based on the estimated insurance cost.

7. The system of claim 1, wherein the computer-executable instructions, when executed, further cause the one or more vehicle cost estimation servers to:

retrieve a manufacturer'"'"'s specified maintenance schedule and an existing warranty for the first vehicle; and

estimate, using the manufacturer'"'"'s specified maintenance schedule and the existing warranty for the first vehicle, a maintenance cost for maintaining the first vehicle throughout ownership by the prospective buyer of the first vehicle,

wherein the total cost of ownership for the first vehicle is further based on the estimated maintenance cost.

8. The system of claim 1, wherein the one or more vehicle cost estimation servers estimate the fuel cost further based on a measurement of fuel efficiency detected by one or more of the plurality of first vehicle operational sensors.

9. The system of claim 1, further comprising:

a credit-rating agency database comprising credit scores for different people,

wherein the memory further stores computer-executable instructions that, when executed by the at least one processor, cause the one or more vehicle cost estimation servers to;

retrieve, from the credit-rating agency database, a credit score for the prospective buyer based on the buyer identification information; and

estimate, using the credit score for the prospective buyer, a financing cost associated with the prospective buyer purchasing the first vehicle, and

wherein the total cost of ownership for the first vehicle is further based at least on the financing cost.

10. The system of claim 1, further comprising:

the fourth database comprising a vehicle manufacturer database comprising mile-per-gallon ratings for different vehicles,

wherein the memory further stores computer-executable instructions that, when executed by the at least one hardware processor, cause the one or more vehicle cost estimation servers to;

retrieve, from the first database and based on the buyer identification information, acceleration rates associated with the prospective buyer; and

determine, based on the acceleration rates associated with the prospective buyer being above a threshold, that the prospective buyer has an aggressive driving habit.

11. The system of claim 1, further comprising:

the fourth database comprising a vehicle manufacturer database comprising mile-per-gallon ratings for different vehicles,

wherein the memory further stores computer-executable instructions that, when executed by the at least one hardware processor, cause the one or more vehicle cost estimation servers to;

retrieve, from the first database and based on the buyer identification information, a frequency at which with the prospective buyer causes a vehicle engine'"'"'s revolutions per minute (RPM) to exceed a threshold; and

determine, based on the frequency, that the prospective buyer has an aggressive driving habit.

12. The system of claim 1,

wherein the at least one of the plurality of second vehicle operational sensors transmits the second vehicle operational data to the mobile device and the mobile device transmits the second vehicle operational data to the one or more vehicle cost estimation servers, and

wherein the at least one of the plurality of first vehicle operational sensors transmits the first vehicle operational data to the prospective seller'"'"'s mobile device and the prospective seller'"'"'s mobile device transmits the first vehicle operational data to the one or more vehicle cost estimation servers.

13. A method comprising:

receiving, by one or more computing devices via a network from at least one of a plurality of first operational sensors that are each configured to record at least one operational parameter of a first vehicle of a prospective seller, first vehicle operational data;

receiving, by the one or more computing devices via the network from at least one of a plurality of second vehicle operational sensors that are each configured to record at least one operational parameter of a second vehicle of a prospective buyer, second vehicle operational data;

storing, by the one or more computing devices, the first vehicle operational data and the second vehicle operational data in a first database;

receiving, by the one or more computing devices, seller identification information identifying the prospective seller of the first vehicle and buyer identification information identifying the prospective buyer of the first vehicle;

retrieving, by the one or more computing devices based on the seller identification information, seller driver data;

retrieving, by the one or more computing devices based on the buyer identification information, buyer driver data, wherein the buyer driver data is based at least on a portion of the second vehicle operational data;

receiving, by the one or more computing devices from a mobile device via a wireless communication network, a digital image, wherein the mobile device captures the digital image using a total cost of ownership application and a camera of the mobile device;

analyzing, by the one or more computing devices, the received digital image to determine vehicle identification information identifying the first vehicle;

retrieving, by the one or more computing devices from the first database based on the vehicle identification information, a portion of the first vehicle operational data that is previously collected for the first vehicle;

retrieving, by the one or more computing devices from a second database based on the vehicle identification information, one or more insurance records of insurance claims previously filed in association with the first vehicle;

retrieving, by the one or more computing devices from a third database based on the vehicle identification information, one or more maintenance records of maintenance previously performed on the first vehicle;

retrieving, by the one or more computing devices from a fourth database based on the vehicle identification information, a mile-per-gallon rating for the first vehicle;

determining, by the one or more computing devices based on the buyer driver data, that the prospective buyer has a specific driving habit;

decreasing, by the one or more computing devices, the mile-per-gallon rating for the first vehicle in response to a determination that the prospective buyer has the specific driving habit to obtain a decreased mile-per-gallon rating;

estimating, by the one or more computing devices using the decreased mile-per-gallon rating, a fuel cost associated with the prospective buyer driving the first vehicle;

calculating, by the one or more computing devices based on the estimated fuel cost, the one or more insurance records, the one or more maintenance records, the seller driver data, and the portion of the first vehicle operational data, a total cost of ownership for the first vehicle, including a cost of insuring, fueling, and maintaining the first vehicle throughout ownership by the prospective buyer of the first vehicle; and

transmitting, by the one or more computing devices to the mobile device via a wireless communication network, the calculated total cost of ownership for the first vehicle.

14. The method of claim 13, wherein the

analyzing, by the one or more computing devices, the digital image comprises analyzing the digital image to determine a vehicle identification number (VIN) of the first vehicle.

15. The method of claim 13, wherein the seller driver data comprises a driving record for the prospective seller, and wherein the calculating the total cost of ownership for the first vehicle is based on the driving record for the prospective seller.

16. The method of claim 13, wherein the seller driver data comprises a seller insurance claim history indicating insurance claims made by the prospective seller and the buyer driver data comprises a buyer insurance claim history indicating insurance claims made by the prospective buyer, and wherein the calculating the total cost of ownership for the first vehicle is based on the seller insurance claim history and the buyer insurance claim history.

17. The method of claim 13, wherein the seller driver data comprises demographic data for the prospective seller and wherein the portion of the first vehicle operational data comprises rates of acceleration or braking of the first vehicle.

18. The method of claim 13, further comprising:

calculating, by the one or more computing devices using a deductible selected by the prospective buyer, an estimated cost of insurance for the prospective buyer to insure the first vehicle throughout ownership by the prospective buyer of the first vehicle;

wherein the calculating the total cost of ownership for the first vehicle is further based on the estimated cost of insurance.

19. The method of claim 13, wherein the calculating the total cost of ownership for the first vehicle comprises:

calculating an insurance premium for insuring the first vehicle based on driving behavior information for the prospective buyer of the first vehicle; and

calculating an insurance cost for the prospective buyer to insure the first vehicle throughout ownership of the first vehicle by the prospective buyer based on the insurance premium,

wherein the total cost of ownership for the first vehicle is further calculated based on the insurance cost.

20. The method of claim 13, wherein the calculating the total cost of ownership for the first vehicle comprises:

calculating a cost of maintenance for the first vehicle based on information indicating a make, model, and year of manufacture of the first vehicle; and

increasing or decreasing the cost of maintenance for the first vehicle based on the portion of the first vehicle operational data, wherein the portion of the first vehicle operational data comprises rates of acceleration or braking or comprises instances in which acceleration or braking exceeds a predetermined threshold.

21. One or more non-transitory computer-readable media storing computer-executable instructions, that when executed by a computing system, cause one or more computing devices to:

receive, via a network from at least one of a plurality of first vehicle operational sensors that are each configured to record at least one operational parameter of a first vehicle of a prospective seller, first vehicle operational data;

receive, via the network from at least one of a plurality of second vehicle operational sensors that are each configured to record at least one operational parameter of a second vehicle of a prospective buyer, second vehicle operational data;

store the first vehicle operational data and the second vehicle operational data in a first database;

receive seller identification information identifying the prospective seller of the first vehicle and buyer identification information identifying the prospective buyer of the first vehicle;

retrieve, based on the seller identification information, seller driver data;

retrieve, based on the buyer identification information, buyer driver data, wherein the buyer driver data is based at least on a portion of the second vehicle operational data;

receive, via a wireless communication network from a mobile device, a digital image, wherein the mobile device captures the digital image using a total cost of ownership application and a camera of the mobile device;

analyze, the received digital image to determine vehicle identification information identifying the first vehicle;

retrieve, from the first database based on the vehicle identification information, a portion of the first vehicle operational data that is previously collected for the first vehicle;

retrieve, from a second database based on the vehicle identification information, one or more insurance records of insurance claims previously filed in association with the first vehicle;

retrieve, from a third database based on the vehicle identification information, one or more maintenance records of maintenance previously performed on the first vehicle;

retrieve, from a fourth database based on the vehicle identification information, a mile-per-gallon rating for the first vehicle;

determine, based on the buyer driver data, that the prospective buyer has an aggressive driving habit;

generate a decreased mile-per-gallon rating by evaluating the mile-per-gallon rating for the first vehicle and the aggressive driving habit;

estimate, using the decreased mile-per-gallon rating, a fuel cost associated with the prospective buyer driving the first vehicle;

calculate, based on the estimated fuel cost, the one or more insurance records, the one or more maintenance records, the seller driver data, and the portion of the first vehicle operational data, a total cost of ownership for the first vehicle, including a cost of insuring, fueling, and maintaining the first vehicle throughout ownership by the prospective buyer of the first vehicle; and

transmit, to the mobile device via a wireless communication network, the calculated total cost of ownership for the first vehicle.