SYSTEM AND METHOD FOR PROVIDING A SCORE FOR A USED VEHICLE

• US 20120095927A1
• Filed: 08/22/2011
• Published: 04/19/2012
• Est. Priority Date: 08/17/2006
• Status: Active Grant

• Current Assignee: Experian Information Solutions Incorporated (Experian plc)
• Original Assignee: Experian Information Solutions Incorporated (Experian plc)
• Inventors: Hirtenstein, Edith, Nemtuda, David
• Granted Patent: US 8,392,334 B2
• Time in Patent Office: Days
• US Class Current: 705/306
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/0603 Catalogue ordering

Abstract

One embodiment of the system and method described herein provides a score generator system that generates an automated vehicle specific valuation of a used car based on the physical and historical attributes of that vehicle. This score may indicate the likelihood that the vehicle will be on the road in a specific period of time. The score may give an absolute percentage of such likelihood or it may give a value relative to all other used vehicles in a database, all other used vehicles of the same make/model/year, or a certain subset of the vehicles in a database. In one embodiment, the score generator system includes a data link module for linking vehicle data and filter module for applying a multi-level filters that process the linked vehicle data.

Claims

1. A vehicle scoring system, comprising:

a computer system having a processor that supports operation of a software application;

a data storage module, accessed on the computer system, including a plurality of vehicle data records obtained from at least one of a title information database, a registration information database, a Department of Motor Vehicle (DMV) records database, an auction records database, and an accident records database;

a filter module, executed on the computer system, comprising;

a first filter for obtaining relevant vehicle-related data from the data storage module'"'"'s plurality of vehicle data records, the vehicle-related data comprising a plurality of factors;

a second filter for comparing the obtained vehicle-related data of a specific vehicle to the obtained vehicle-related data of comparison vehicles and assigning a numerical value to at least one of the factors comprising the relevant vehicle-related data; and

a third filter for weighting and combining the numerical values of the relevant vehicle-related data into a vehicle score for the specific vehicle, wherein weighting is determined by a modeling technique applied to the plurality of data records,

wherein combining comprises adding the weighted numerical values; and

an output module for reporting an indication of the vehicle score to a user;

wherein the computer system is capable of accepting, from a user, only a standard vehicle identification number relating to the specific vehicle and communicating the vehicle identification number to the filter module; and

wherein the first filter bases its obtaining of relevant data on the vehicle identification number of the specific vehicle.

2. The vehicle scoring system of claim 1, wherein the output module comprises a web server.

3. The vehicle scoring system of claim 1, wherein the data storage module comprises a plurality of databases.

4. The vehicle scoring system of claim 1, wherein the indication of the vehicle score is a number from a preselected range.

5. The vehicle scoring system of claim 1, wherein the indication of the vehicle score is a grade.

6. The vehicle scoring system of claim 3, further comprising:

a data link module for linking data from the plurality of databases that is associated with at least the vehicle identifier; and

wherein the processor is capable of operating the data link module.

7. The vehicle scoring system of claim 1, further comprising:

a modeling module for providing the filter module with at least one of the first filter, the second filter and the third filter.

8. The vehicle scoring system of claim 7, wherein the modeling module uses at least a portion of the plurality of vehicle records in the data storage module to determine what types of data are relevant to the vehicle score.

9. The vehicle scoring system of claim 7, wherein the modeling module uses at least a portion of the plurality of vehicle records in the data storage module to determine relative values of different types of data relevant to the vehicle score.