SYSTEMS AND METHODS FOR BUYING AND SELLING ONE OR MORE VEHICLES

• US 20150058151A1
• Filed: 05/23/2014
• Published: 02/26/2015
• Est. Priority Date: 08/21/2013
• Status: Abandoned Application

• Current Assignee: COX Digital Exchange, LLC
• Original Assignee: COX Digital Exchange, LLC
• Inventors: Easterly, Greg, Sims, Paul David, Green, Stan, Richards-Boeff, Don, Reidy, Bill
• Application Number:
  US14/286,474
• Publication Number:
  US 20150058151A1
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

Systems and methods for buying and selling one or more vehicles are provided herein. In one embodiment, the systems and methods disclosed herein may provide a guarantee price to a seller of a vehicle. In another embodiment, the systems and methods disclosed herein may provide a fee associated with receiving the guarantee price for the vehicle. Further, in an additional embodiment, the systems and methods disclosed herein may facilitate the purchase and/or execution of a put option for the vehicle.

Claims

1. A method, comprising:

receiving, by at least one processor coupled to at least one memory, information associated with a vehicle;

determining, by the at least one processor and based at least in part on the information associated with the vehicle, a guarantee price for the vehicle;

providing, by the at least one processor, the guarantee price to a computing device associated with a seller of the vehicle;

receiving, by the at least one processor, an indication of acceptance or rejection of the guarantee price from the computing device associated with the seller of the vehicle;

providing, by the at least one processor, the vehicle in a timed auction when the received indication from the computing device associated with the seller of the vehicle comprises acceptance of the guarantee price;

receiving, by the at least one processor, one or more bids for the vehicle; and

determining, by the at least one processor and based at least in part on the one or more bids and the guarantee price, a final sales price of the vehicle at the end of the timed auction, wherein the final sales price comprises (1) a highest bid from the one or more bids in the timed auction that is at least greater than or equal to the guarantee price;

or (2) the guarantee price if none of the one or more bids is greater than or equal to the guarantee price.

2. The method of claim 1, further comprising receiving, by the at least one processor, an indication of acceptance or rejection of the final sales price from the computing device associated with the seller of the vehicle.

3. The method of claim 1, wherein the guarantee price comprises a minimum bid price for the vehicle in the timed auction.

4. The method of claim 1, wherein the guarantee price comprises a reserve price for the vehicle in the timed auction.

5. The method of claim 1, wherein the information associated with the vehicle is received from the seller of the vehicle via the computing device associated with the seller of the vehicle.

6. The method of claim 1, wherein the information associated with the vehicle is received from one or more third-party service providers via one or more third-party service provider computers.

7. The method of claim 1, wherein the guarantee price is based at least in part on a value of the vehicle as provided by one or more third-party service providers via one or more third-party service provider computers.

8. The method of claim 1, wherein the guarantee price comprises at least one of a specific amount, a range of amounts, or at least a percentage of an amount.

9. The method of claim 1, further comprising:

determining, by the at least one processor, a fee associated with the guarantee price;

providing, by the at least one processor, the fee associated with the guarantee price to the computing device associated with the seller of the vehicle before the timed auction; and

receiving, by the at least one processor, an indication of acceptance or rejection of the fee associated with the guarantee price from the computing device associated with the seller of the vehicle before the timed auction.

10. The method of claim 9, further comprising providing the fee associated with the guarantee price to the computing device associated with the seller before providing the computing device associated with seller with the guarantee price.

11. The method of claim 9, wherein the fee associated with the guarantee price is only provided to the computing device associated with the seller if the fee is accepted.

12. One or more computer-readable media storing computer-executable instructions that, when executed by at least one processor, configure the at least one processor to perform operations comprising:

receiving information associated with a vehicle;

determining, based at least in part on the information associated with the vehicle, a guarantee price for the vehicle;

determining, based at least in part on the information associated with the vehicle and/or the guarantee price, a fee associated with the guarantee price;

providing the fee to a computing device associated with a seller of the vehicle;

receiving an indication of acceptance or rejection of the fee from the computing device associated with the seller of the vehicle;

providing the guarantee price to the computing device associated with the seller of the vehicle when the received indication comprises acceptance of the fee;

providing the vehicle in a timed auction;

receiving one or more bids for the vehicle; and

determining, based at least in part on the one or more bids and the guarantee price, a final sales price of the vehicle at the end of the timed auction, wherein the final sales price comprises (1) a highest bid from the one or more bids in the timed auction that is at least greater than or equal to the guarantee price;

or (2) the guarantee price if none of the one or more bids is greater than or equal to the guarantee price.

13. The one or more computer-readable media of claim 12, the operations further comprising receiving an indication of acceptance or rejection of the final sales price from the computing device associated with the seller of the vehicle.

14. The one or more computer-readable media of claim 12, wherein the guarantee price comprises a minimum bid price for the vehicle in the timed auction.

15. The one or more computer-readable media of claim 12, wherein the guarantee price comprises a reserve price for the vehicle in the timed auction.

16. The one or more computer-readable media of claim 12, wherein the information associated with the vehicle is received from the seller of the vehicle via the computing device associated with the seller of the vehicle.

17. The one or more computer-readable media of claim 12, wherein the information associated with the vehicle is received from a third-party service provider via a third-party service provider computer.

18. The one or more computer-readable media of claim 12, wherein the guarantee price is based at least in part on a value of the vehicle as provided by the third-party service provider via the third-party service provider computer.

19. The one or more computer-readable media of claim 12, wherein the guarantee price comprises at least one of a specific amount, a range of amounts, or at least a percentage of an amount.

20. The one or more computer-readable media of claim 12, wherein the guarantee price is acceptable at a future date and time.

21. A system, comprising:

at least one memory that stores computer-executable instructions;

at least one processor configured to access the at least one memory, wherein the at least one processor is configured to execute the computer-executable instructions to;

receive information associated with a vehicle;

determine, based at least in part on the information associated with the vehicle, an offer price for the vehicle at a future date and time;

determine, based at least in part on the information associated with the vehicle, the offer price, and/or the future date and time, a fee to redeem the offer price at the future date and time;

provide the offer price for the vehicle at the future date and time and the fee to redeem the offer price at the future date and time to a computing device associated with a seller of the vehicle;

receive an indication of acceptance or rejection of the fee to redeem the offer price at the future date and time from the computing device associated with the seller of the vehicle, wherein acceptance of the fee comprises a put option for the vehicle; and

receive an indication on or before the future date and time of acceptance or rejection of the offer price for the vehicle.

22. The system of claim 21, wherein after the acceptance of the fee creating the put option, the vehicle is placed in a timed auction.