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USED-VEHICLE ALGORITHMIC PRICING ENGINE METHOD AND SYSTEM

  • US 20170300991A1
  • Filed: 01/04/2017
  • Published: 10/19/2017
  • Est. Priority Date: 01/12/2016
  • Status: Abandoned Application
First Claim
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1. A computerized system for distributing an estimated monetary value of a used vehicle on the internet, the Internet including a server and a computer with a monitor, the used vehicle being associated with a seller of the used vehicle, which used vehicles is offered for sale to a used-vehicle retailer, the system comprising;

  • the server comprising a category-agnostic pricing engine that evaluates the fair price range of any used automobile and is configured to;

    identify the seller of the used vehicle;

    identify a used-vehicle retailer to offer the used vehicle to for sale;

    determine a mileage of the used vehicle;

    determine a condition of the used vehicle;

    collect set of samples of one or more used-vehicle types, wherein the set of samples comprise make of each used-vehicle type, a model of each used-vehicle type and a year of production of each vehicle type;

    collect a set of used-vehicle sales data for the set of samples of the one or more used-vehicle types for a specified period, and wherein the used-vehicle sales data comprises a sale price statistic for the set of samples as a function of at least vehicle mileage and vehicle condition;

    generate depreciation curve for each used-vehicle type based on the used-vehicle sales data of each sampled used-vehicle type;

    group each sampled used-vehicle types with a set of similar depreciation patterns into a depreciation segment, wherein the depreciation segment comprises a group of vehicle types that present a similar depreciation pattern within specified thresholds of the used-vehicle sales data;

    match the used-vehicle of the seller to the depreciation segment;

    determine a monetary value of the used vehicle based on the deprecation segment;

    provide a web page that includes a display of the monetary value of the used vehicle based on the deprecation segment;

    receive a request for the web page from either the seller'"'"'s computing device or the used-vehicle retailer'"'"'s computing device;

    configure the web page to display the monetary value of the used vehicle based on the depreciation segment; and

    communicate the web page configured to display the monetary value of the used vehicle to either the seller'"'"'s computing device or the used-vehicle retailer'"'"'s computing device.

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