METHOD AND SYSTEM FOR PROVIDING A CERTIFIED SWAP PRICE FOR A VEHICLE

• US 20130006809A1
• Filed: 07/01/2011
• Published: 01/03/2013
• Est. Priority Date: 07/01/2011
• Status: Abandoned Application

• Current Assignee: AutoTrader.com, Inc. (Cox Enterprises Incorporated)
• Original Assignee: BuyBook Technologies, Inc.
• Inventors: HOLLENSHEAD, Robert, Reimel, Theodore
• Application Number:
  US13/175,231
• Publication Number:
  US 20130006809A1
• Time in Patent Office: Days
• US Class Current: 705/26.41
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Methods and systems are provided that swap certified pre-owned vehicles between dealers. One exemplary computer-implemented method for swapping CPO vehicles includes receiving, by a swap facilitating computer, a request to swap a first CPO vehicle for another CPO vehicle; and determining, by the swap facilitating computer using stored market values, a first base price of the first CPO vehicle and displaying available CPO vehicles or permitting inputting of identification for the other CPO vehicle having a second base price. The exemplary method further includes facilitating an offer to swap the first CPO vehicle for the other CPO vehicle by establishing base prices for each of the CPO vehicles, wherein the base prices can be first and second guaranteed prices.

Claims

1. A computer-implemented method for swapping certified pre-owned (CPO) vehicles, the CPO vehicles being certified to satisfy a standard established by a certification organization, comprising:

receiving, by a swap facilitating computer, a request to swap a first CPO vehicle for another CPO vehicle;

determining, by the swap facilitating computer using stored market values, a first base price of the first CPO vehicle and displaying available CPO vehicles or permitting inputting of identification for the other CPO vehicle having a second base price; and

facilitating an offer to swap the first CPO vehicle for the other CPO vehicle by establishing base prices for each of the CPO vehicles using the first and second guaranteed prices.

2. The method of claim 1, wherein the first base price and the second base price are guaranteed prices.

3. The method of claim 2, wherein the price of each vehicle in the offer to swap is established, by first and second dealers, with the guaranteed first and second prices establishing the base prices.

4. The method of claim 1, further comprising determining, by the swap facilitating computer using stored market values, the second base price of the other CPO vehicle.

5. The method of claim 4, wherein:

the determining of the first base price of the first CPO vehicle includes establishing the first base price in accordance with a location of the other CPO vehicle; and

the determining of the second base price of the other CPO vehicle includes establishing the second base price in accordance with a location of the first CPO vehicle.

6. The method of claim 5, wherein:

the determining of the first base price of the first CPO vehicle includes;

establishing the market of the first CPO vehicle,

determining the market price of the first CPO vehicle using the location of the other CPO vehicle, and

setting the first base price of the first CPO vehicle based on the market price of the first CPO vehicle; and

the determining of second base price of the other CPO vehicle includes;

establishing the market of the other CPO vehicle,

determining the market price of the other CPO vehicle using the location of the first CPO vehicle, and

setting the second base price of the other CPO vehicle based on the market price of the other CPO vehicle.

7. The method of claim 1, wherein:

the request is initiated by a first entity;

the other CPO vehicle is under control of a second entity; and

the first and second base prices are guaranteed by a third entity, different from the first and second entities.

8. The method of claim 7, wherein the first and second entities are dealers.

9. The method of claim 1, further comprising registering, in a storage device associated with the swap facilitating computer, CPO vehicles available to be swapped.

10. The method of claim 9, further comprising:

retrieving and sending, in response to the request, a list of the registered CPO vehicles available to be swapped.

11. The method of claim 10, further comprising:

filtering the list of registered CPO vehicles, prior to sending the list based on criteria included in the information request.

12. The method of claim 1, wherein the permitting of inputting of identification for the other CPO vehicle having a second base price includes inputting of criteria for selection of available CPO vehicles.

13. The method of claim 5, wherein:

the determining of the first base price includes;

calculating the base price of the first vehicle based on information associated with the first CPO vehicle provided by a first dealer computer to the swap facilitating computer, and

the determining of the second base price includes;

calculating the base price of the other CPO vehicle based on information associated with the first CPO vehicle provided by a second dealer computer to the swap facilitating computer.

14. The method of claim 8, wherein in the event that one dealer of the first and second dealers determines that the CPO vehicle that had been swapped to the one dealer does not comply with vehicle information provided by the other dealer, the method further comprises:

receiving updated vehicle information of the CPO vehicle that had been swapped to the one dealer;

determining a revised base price of the CPO vehicle that had been swapped to the one dealer based on the updated vehicle information of the CPO vehicle that had been swapped to the one dealer received from the one dealer; and

reimbursing the one dealer based on the revised base price.

15. The method of claim 14, further comprising charging the other dealer for a reimbursement of the one dealer.

16. The method of claim 15, wherein the charging of the other dealer for the reimbursement includes charging one of:

(1) an escrow account of the other dealer for the reimbursement;

(2) a credit account of the other dealer for the reimbursement;

or (3) a debt account of the other dealer for the reimbursement.

17. The method of claim 1, wherein the determining of the first base price for the first CPO vehicle includes:

receiving, by the swap facilitating computer from a first entity, first evaluation information for determining a first value associated with the first CPO vehicle;

selecting, by the swap facilitating computer, a price adjustment category for the first CPO vehicle from a set of price adjustment categories stored in a data storage device associated with the swap facilitating computer based on the first evaluation information;

determining, by the swap facilitating computer, a base value for the first CPO vehicle by modifying the stored market value of a vehicle type of the first CPO vehicle based on the selected price adjustment category;

determining, by the swap facilitating computer, a modifier value based on the vehicle information received from the first entity; and

determining, by the swap facilitating computer, a base price for the first CPO vehicle by combining the base value and the modifier value of the first CPO vehicle.

18. The method of claim 17, wherein the determining of the modifier value includes establishing the modifier value based the vehicle information that describes a condition of the first CPO vehicle or a history of the first CPO vehicle.

19. The method of claim 18, further comprising establishing a threshold value for the first CPO vehicle as a percentage of the base value such that the threshold value is associated with the modifier value and is a fixed value.

20. The method of claim 17, wherein the selecting of the price adjustment category is based on a make of the first CPO vehicle, a model of the first CPO vehicle and a color of the first CPO vehicle.

21. The method of claim 17, wherein the first entity is a first dealer and a second entity is a second dealer such that the first and second dealers belong to a set of participation categories and the second vehicle information is provided to the first dealer based on the participation category of at least one of the first and second dealers.

22. A system for swapping certified pre-owned (CPO) vehicles between first and second dealers, comprising:

a database of market values;

a swap facilitating computer including a processor and a data storage device, the storage device storing instructions that, when executed by the processor, control the swap facilitating computer to;

receive a request from the first dealer to swap a first CPO vehicle for another CPO vehicle of the second dealer;

determine using the database of market values a first base price of the first CPO vehicle;

display available CPO vehicles or permit inputting of identification for the other CPO vehicle having a second base price;

establish base prices for each of the CPO vehicles; and

facilitate an offer to swap the first CPO vehicle for the other CPO vehicle based on the established base prices for the CPO vehicles.

23. The system of claim 22, wherein the first base price and the second base price are guaranteed prices.

24. The system of claim 22, wherein the swap facilitating computer using stored market values determines the second base price of the other CPO vehicle.

25. The system of claim 24, wherein the swap facilitating computer establishes the first base price in accordance with a location of the other CPO vehicle and the second base price in accordance with a location of the first CPO vehicle.

26. The system of claim 25, wherein the swap facilitating computer:

(1) establishes a market of the first CPO vehicle, determines a market price of the first CPO vehicle using the location of the other CPO vehicle, and set the first base price of the first CPO vehicle based on the market price of the first CPO vehicle; and

(2) establishes a market of the other CPO vehicle, determine a market price of the other CPO vehicle using the location of the first CPO vehicle, and setting the second base price of the other CPO vehicle based on the market price of the other CPO vehicle.

27. The system of claim 22, wherein first and second dealers certify that the respective first and second CPO vehicles satisfy a standard condition level established by a certification organization.

28. The system of claim 22, wherein the processor, further controls the swap facilitating computer to pay a difference in the first and second guaranteed prices to one of the dealers.

29. The system of claim 22, wherein:

the first base price of the first CPO vehicle is calculated based on information of the first CPO vehicle provided by the first dealer to the swap facilitating computer, and

the second base price of the other CPO vehicle is calculated based on information of the other CPO vehicle provided by the second dealer to the swap facilitating computer.

30. The system of claim 22, wherein, responsive to vehicle information associated with the first CPO vehicle provided by the first dealer not complying with the vehicle information, further controlling the swap facilitating computer to:

receive updated vehicle information of the first CPO vehicle from the second dealer;

determine the revised base price of the first CPO vehicle based the updated vehicle information of the first CPO vehicle received from the second dealer; and

reimburse the second dealer based on the revised base price.

31. The system of claim 30, wherein a swap facilitating computer charges the first dealer for the reimbursement of the second dealer.

32. The system of claim 30, wherein the swap facilitating computer charges an escrow account of the first dealer for the reimbursement.

33. The system of claim 22, wherein the swap facilitating computer provides a registry of available CPO vehicles to the first dealer that lists the second CPO vehicle.

34. The system of claim 22, wherein the instructions for determining the base prices for the CPO vehicles further include instructions that control the swap facilitating computer to:

select a price adjustment category for each of the CPO vehicles from a set of price adjustment categories stored in the data storage device based on vehicle type information received from another computer;

determine a base value for each of the CPO vehicles by modifying a market value of a vehicle type retrieved from a database based on an amount corresponding to the selected price adjustment category;

determine a modifier value based on vehicle information received from a respective dealer computers, the swap facilitating computer limiting an amount of the modifier value to a threshold value; and

determine a guaranteed price for each of the CPO vehicles by combining a respective base value with a corresponding modifier value.

35. The system of claim 34, further comprising a user computer sending information describing a condition of the first CPO vehicle or a history of the first CPO vehicle, wherein the modifier value determined by the swap facilitating computer that is associated with the first CPO is based on the information received from a user computer.

36. A computer-readable storage device storing program instructions that, when executed by a processor, controls a swap facilitating computer to:

receive a request from the first dealer to swap a first CPO vehicle for a second CPO vehicle of the second dealer;

determine using the database of market values corresponding to a market of the second dealer, a first base price for the first CPO vehicle;

determine using the database of market values corresponding to a market of the first dealer, a second base price for the second CPO vehicle; and

provide an offer to the second dealer to swap the first CPO vehicle for the second CPO vehicle at the first and second base prices,

wherein the first and second dealers certify that the respective first and second CPO vehicles satisfy a standard condition level established by a certification organization.