SYSTEMS AND METHODS FOR DETERMINING THE TIME TO BUY OR SELL A VEHICLE

• US 20140279708A1
• Filed: 12/20/2013
• Published: 09/18/2014
• Est. Priority Date: 03/13/2013
• Status: Active Grant

• Current Assignee: TrueCar, Inc.
• Original Assignee: True Car Incorporated
• Inventors: Swinson, Michael D., Lander, Joel Martin
• Granted Patent: US 9,747,620 B2
• Time in Patent Office: Days
• US Class Current: 705/400
• CPC Class Codes: G06Q 30/0283 Price estimation or determination

Abstract

Systems and methods for assisting a vehicle owner in making decisions regarding when to replace a vehicle by determining a vehicle owner'"'"'s satisfaction with the vehicle relative to the cost of owning the vehicle. In one embodiment, a system is configured to provide a model for owner satisfaction which is based on historical vehicle replacement information, but is tailored to a particular owner according to user input. An owner satisfaction curve is produced from this model and is compared to a cost-of-ownership curve that is tailored to the vehicle and possibly also the user. The owner satisfaction curve is compared to the cost-of-ownership curve to enable the user to determine where the cost of ownership exceeds the owner'"'"'s satisfaction, and the vehicle should be replaced.

Claims

1. A system for determining costs of vehicle ownership, the system comprising:

a computer processor;

a data storage device coupled to the processor; and

an output device coupled to the processor;

wherein the processor is configured to;

determine a cost of ownership curve for a specified vehicle, wherein the cost of ownership curve identifies values of the cost of ownership of the specified vehicle versus time;

determine an owner satisfaction curve for the specified vehicle and a specified owner, wherein the owner satisfaction curve identifies values for the specified owner'"'"'s satisfaction with the specified vehicle versus time; and

generating an output and displaying the output to a user, wherein the output indicates the specified owner'"'"'s satisfaction relative to the cost of ownership at a plurality of times in the future.

2. The system of claim 1, wherein the output comprises a graphical representation of the specified owner'"'"'s satisfaction relative to the cost of ownership as functions of time.

3. The system of claim 1, wherein the output comprises a graphical representation of a net utility of the specified vehicle for the specified user, wherein the net utility comprises a difference between the specified owner'"'"'s satisfaction and the cost of ownership.

4. The system of claim 1, wherein the output comprises a graphical representation of an adjusted cost of ownership of the specified vehicle for the specified user, wherein the adjusted cost of ownership comprises a sum of values of an objective cost of ownership curve and a dissatisfaction curve.

5. The system of claim 1, wherein the processor is configured to derive a user satisfaction model from a historical data set and store the user satisfaction model in the data storage device, wherein for each of a plurality of vehicle sale transactions, the processor queries the historical data set for a time-to-sale of the vehicle and parameters associated with the vehicle and the owner, and correlates the parameters associated with the vehicle and the owner to the time-to-sale of the vehicle, wherein the processor configures the user satisfaction model based on the parameters associated with the vehicle and the owner.

6. The system of claim 5, wherein the processor is configured to determine the owner satisfaction curve for the specified vehicle and the specified owner by receiving input from the user which specifies one or more parameters associated with the specified vehicle and the specified owner, using the one or more parameters associated with the specified vehicle and the specified owner to correlate the specified vehicle and the specified owner to one or more of the plurality of vehicle sale transactions, and using the correlation to generate a user satisfaction curve.

7. The system of claim 6, wherein the processor is configured to:

identify one or more classes of the vehicle sale transactions;

for each of the classes identified in the vehicle sale transactions, generate a set of satisfaction curve parameters;

receive input from the user which specifies one or more parameters associated with the specified vehicle and the specified owner;

associate the specified vehicle and the specified owner with one of the plurality of classes;

retrieve the set of satisfaction curve parameters of the class with which the specified vehicle and the specified owner are associated; and

generate a satisfaction curve for the specified vehicle and the specified owner using the retrieved satisfaction curve parameters.

8. A method for determining costs of vehicle ownership in a vehicle data system which is communicatively coupled to one or more client devices, the method comprising:

determining, in the vehicle data system, a cost of ownership curve for a specified vehicle, wherein the cost of ownership curve identifies values of the cost of ownership of the specified vehicle versus time;

determining, in the vehicle data system, an owner satisfaction curve for the specified vehicle and a specified owner, wherein the owner satisfaction curve identifies values for the specified owner'"'"'s satisfaction with the specified vehicle versus time; and

generating an output in the vehicle data system and displaying the output to a user via the one or more client devices, wherein the output indicates the specified owner'"'"'s satisfaction relative to the cost of ownership at a plurality of times in the future.

9. The method of claim 8, wherein the output comprises a graphical representation of the specified owner'"'"'s satisfaction relative to the cost of ownership as functions of time.

10. The method of claim 8, wherein the output comprises a graphical representation of a net utility of the specified vehicle for the specified user, wherein the net utility comprises a difference between the specified owner'"'"'s satisfaction and the cost of ownership.

11. The method of claim 8, wherein the output comprises a graphical representation of an adjusted cost of ownership of the specified vehicle for the specified user, wherein the adjusted cost of ownership comprises a sum of values of an objective cost of ownership curve and a dissatisfaction curve.

12. The method of claim 8, further comprising deriving a user satisfaction model from a historical data set and storing the user satisfaction model in a data storage device, wherein for each of a plurality of vehicle sale transactions, the historical data set is queried for a time-to-sale of the vehicle and parameters associated with the vehicle and the owner, and the parameters associated with the vehicle and the owner are correlated to the time-to-sale of the vehicle, wherein the user satisfaction model is configured based on the parameters associated with the vehicle and the owner.

13. The method of claim 12, wherein determining the owner satisfaction curve for the specified vehicle and the specified owner comprises receiving input from the user which specifies one or more parameters associated with the specified vehicle and the specified owner, using the one or more parameters associated with the specified vehicle and the specified owner to correlate the specified vehicle and the specified owner to one or more of the plurality of vehicle sale transactions, and using the correlation to generate a user satisfaction curve.

14. The method of claim 13, further comprising:

identifying one or more classes of the vehicle sale transactions;

for each of the classes identified in the vehicle sale transactions, generating a set of satisfaction curve parameters;

receiving input from the user which specifies one or more parameters associated with the specified vehicle and the specified owner;

associating the specified vehicle and the specified owner with one of the plurality of classes;

retrieving the set of satisfaction curve parameters of the class with which the specified vehicle and the specified owner are associated; and

generating a satisfaction curve for the specified vehicle and the specified owner using the retrieved satisfaction curve parameters.

15. A computer program product comprising at least one non-transitory computer-readable storage medium storing computer instructions that are translatable by a processor to perform:

determining, in the vehicle data system, a cost of ownership curve for a specified vehicle, wherein the cost of ownership curve identifies values of the cost of ownership of the specified vehicle versus time;

determining, in the vehicle data system, an owner satisfaction curve for the specified vehicle and a specified owner, wherein the owner satisfaction curve identifies values for the specified owner'"'"'s satisfaction with the specified vehicle versus time; and

generating an output in the vehicle data system and displaying the output to a user via the one or more client devices, wherein the output indicates the specified owner'"'"'s satisfaction relative to the cost of ownership at a plurality of times in the future.

16. The computer program product of claim 15, wherein the output comprises a graphical representation of the specified owner'"'"'s satisfaction relative to the cost of ownership as functions of time.

17. The computer program product of claim 15, wherein the output comprises a graphical representation of a net utility of the specified vehicle for the specified user, wherein the net utility comprises a difference between the specified owner'"'"'s satisfaction and the cost of ownership.

18. The computer program product of claim 15, wherein the output comprises a graphical representation of an adjusted cost of ownership of the specified vehicle for the specified user, wherein the adjusted cost of ownership comprises a sum of values of an objective cost of ownership curve and a dissatisfaction curve.

19. The computer program product of claim 15, further comprising deriving a user satisfaction model from a historical data set and storing the user satisfaction model in a data storage device, wherein for each of a plurality of vehicle sale transactions, the historical data set is queried for a time-to-sale of the vehicle and parameters associated with the vehicle and the owner, and the parameters associated with the vehicle and the owner are correlated to the time-to-sale of the vehicle, wherein the user satisfaction model is configured based on the parameters associated with the vehicle and the owner.

20. The computer program product of claim 19, wherein determining the owner satisfaction curve for the specified vehicle and the specified owner comprises receiving input from the user which specifies one or more parameters associated with the specified vehicle and the specified owner, using the one or more parameters associated with the specified vehicle and the specified owner to correlate the specified vehicle and the specified owner to one or more of the plurality of vehicle sale transactions, and using the correlation to generate a user satisfaction curve.

21. The computer program product of claim 20, further comprising:

identifying one or more classes of the vehicle sale transactions;

for each of the classes identified in the vehicle sale transactions, generating a set of satisfaction curve parameters;

receiving input from the user which specifies one or more parameters associated with the specified vehicle and the specified owner;

associating the specified vehicle and the specified owner with one of the plurality of classes;

retrieving the set of satisfaction curve parameters of the class with which the specified vehicle and the specified owner are associated; and

generating a satisfaction curve for the specified vehicle and the specified owner using the retrieved satisfaction curve parameters.