Systems and methods for determining the time to buy or sell a vehicle

• US 9,747,620 B2
• Filed: 12/20/2013
• Issued: 08/29/2017
• Est. Priority Date: 03/13/2013
• Status: Active Grant

• Current Assignee: TrueCar, Inc.
• Original Assignee: TrueCar, Inc.
• Inventors: Swinson, Michael D., Lander, Joel Martin
• Primary Examiner(s): Le, Thien M
• Application Number:
  US14/136,687
• Publication Number:
  US 20140279708A1
• Time in Patent Office: 1,348 Days
• Field of Search: 235376, 235375, 235383, 235380, 235381
• 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 in relation to owner satisfaction, the system comprising:

at least one processor; and

at least one non-transitory computer-readable medium storing instructions translatable by the at least one processor to perform;

receiving, from a client device communicatively connected to the system over a network, user input that identifies a user-specified vehicle and a time interval of interest;

determining vehicle parameters of the user-specified vehicle;

based on the vehicle parameters, retrieving or requesting cost information specific to the user-specified vehicle;

determining a cost of ownership curve for the user-specified vehicle based at least in part on the cost information specific to the user-specified vehicle and incrementally relative to the time interval of interest, wherein the cost of ownership curve represents a set of values of the cost of ownership of the user-specified vehicle as a function of time;

determining an owner satisfaction curve for the user-specified vehicle and a specified owner, wherein the owner satisfaction curve represents a set of values for the specified owner'"'"'s satisfaction with the user-specified vehicle as a function of time; and

generating an output for display on the client device, wherein the output comprises the set of values for the specified owner'"'"'s satisfaction with the user-specified vehicle relative to the set of values of the cost of ownership of the user-specified vehicle per the time interval of interest such that where the owner satisfaction curve drops below the cost of ownership curve represents a quantified timing to replace the user-specified vehicle.

2. The system of claim 1, wherein the output comprises a graphical representation of the specified owner'"'"'s satisfaction curve for the user-specified vehicle and a graphical representation of the cost of ownership curve for the user-specified vehicle as functions of time.

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

4. The system of claim 1, wherein the output comprises a graphical representation of an adjusted cost of ownership of the user-specified vehicle for the specified owner, 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 instructions are further translatable by the at least one processor to derive a user satisfaction model from a historical data set and store the user satisfaction model in a data storage device, wherein derivation of the user satisfaction model comprises, for each of a plurality of vehicle sale transactions:

querying the historical data set for a time-to-sale of the user-specified vehicle and parameters associated with the user-specified vehicle and the specified owner; and

correlating the parameters associated with the user-specified vehicle and the specified owner to the time-to-sale of the user-specified vehicle, wherein the user satisfaction model is configured based on the parameters associated with the user-specified vehicle and the specified owner.

6. The system of claim 5, wherein the instructions are further translatable by the at least one processor to determine the owner satisfaction curve for the user-specified vehicle and the specified owner by:

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

using the one or more parameters associated with the user-specified vehicle and the specified owner to correlate the user-specified vehicle and the specified owner to one or more of the plurality of vehicle sale transactions; and

using the correlation to generate the owner satisfaction curve.

7. The system of claim 5, wherein the instructions are further translatable by the at least one processor to:

identify one or more classes of the plurality of vehicle sale transactions;

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

associate the user-specified vehicle and the specified owner with a class of the one or more classes;

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

generate the owner satisfaction curve for the user-specified vehicle and the specified owner using the retrieved set of satisfaction curve parameters of the class with which the user-specified vehicle and the specified owner are associated.

8. A method for determining costs of vehicle ownership in relation to owner satisfaction in a vehicle data system, the method comprising:

receiving, by the vehicle data system from a client device communicatively connected to the vehicle data system over a network, user input that identifies a user-specified vehicle and a time interval of interest, the vehicle data system embodied on at least one server machine each having at least one processor and non-transitory computer readable memory;

determining, by the vehicle data system, vehicle parameters of the user-specified vehicle;

based on the vehicle parameters, retrieving or requesting, by the vehicle data system, cost information specific to the user-specified vehicle;

determining, by the vehicle data system, a cost of ownership curve for the user-specified vehicle based at least in part on the cost information specific to the user-specified vehicle and incrementally relative to the time interval of interest, wherein the cost of ownership curve represents a set of values of the cost of ownership of the user-specified vehicle as a function of time;

determining, by the vehicle data system, an owner satisfaction curve for the user-specified vehicle and a specified owner, wherein the owner satisfaction curve represents a set of values for the specified owner'"'"'s satisfaction with the user-specified vehicle as a function of time; and

generating, by the vehicle data system, an output for display on the client device, wherein the output comprises the set of values for the specified owner'"'"'s satisfaction with the user-specified vehicle relative to the set of values of the cost of ownership of the user-specified vehicle per the time interval of interest such that where the owner satisfaction curve drops below the cost of ownership curve represents a quantified timing to replace the user-specified vehicle.

9. The method of claim 8, wherein the output comprises a graphical representation of the specified owner'"'"'s satisfaction curve for the user-specified vehicle and a graphical representation of the cost of ownership curve for the user-specified vehicle as functions of time.

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

11. The method of claim 8, wherein the output comprises a graphical representation of an adjusted cost of ownership of the user-specified vehicle for the specified owner, 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 the deriving comprises, for each of a plurality of vehicle sale transactions:

querying the historical data set for a time-to-sale of the user-specified vehicle and parameters associated with the user-specified vehicle and the specified owner; and

correlating the parameters associated with the user-specified vehicle and the specified owner to the time-to-sale of the user-specified vehicle, wherein the user satisfaction model is configured based on the parameters associated with the user-specified vehicle and the specified owner.

13. The method of claim 12, wherein determining the owner satisfaction curve for the user-specified vehicle and the specified owner comprises:

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

using the one or more parameters associated with the user-specified vehicle and the specified owner to correlate the user-specified vehicle and the specified owner to one or more of the plurality of vehicle sale transactions; and

using the correlation to generate the owner satisfaction curve.

14. The method of claim 12, further comprising:

identifying one or more classes of the plurality of vehicle sale transactions;

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

associating the user-specified vehicle and the specified owner with a class of the plurality of classes;

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

generating the owner satisfaction curve for the user-specified vehicle and the specified owner using the retrieved set of satisfaction curve parameters of the class with which the user-specified vehicle and the specified owner are associated.

15. A computer program product for determining costs of vehicle ownership in relation to owner satisfaction in a vehicle data system, the computer program product comprising at least one non-transitory computer-readable storage medium storing computer instructions that are translatable by at least a processor of the vehicle data system to perform:

receiving, from a client device communicatively connected to the vehicle data system over a network, user input that identifies a user-specified vehicle and a time interval of interest;

determining vehicle parameters of the user-specified vehicle;

based on the vehicle parameters, retrieving or requesting cost information specific to the user-specified vehicle;

determining a cost of ownership curve for the user-specified vehicle based at least in part on the cost information specific to the user-specified vehicle and incrementally relative to the time interval of interest, wherein the cost of ownership curve represents a set of values of the cost of ownership of the user-specified vehicle as a function of time;

determining an owner satisfaction curve for the user-specified vehicle and a specified owner, wherein the owner satisfaction curve represents a set of values for the specified owner'"'"'s satisfaction with the user-specified vehicle as a function of time; and

generating an output for display on the client device, wherein the output comprises the set of values for the specified owner'"'"'s satisfaction with the user-specified vehicle relative to the set of values of the cost of ownership of the user-specified vehicle per the time interval of interest such that where the owner satisfaction curve drops below the cost of ownership curve represents a quantified timing to replace the user-specified vehicle.

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

18. The computer program product of claim 15, wherein the output comprises a graphical representation of an adjusted cost of ownership of the user-specified vehicle for the specified owner, 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 the deriving comprises, for each of a plurality of vehicle sale transactions:

querying the historical data set for a time-to-sale of the user-specified vehicle and parameters associated with the user-specified vehicle and the specified owner; and

correlating the parameters associated with the user-specified vehicle and the specified owner are correlated to the time-to-sale of the user-specified vehicle, wherein the user satisfaction model is configured based on the parameters associated with the user-specified vehicle and the specified owner.

20. The computer program product of claim 19, wherein determining the owner satisfaction curve for the user-specified vehicle and the specified owner comprises:

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

using the one or more parameters associated with the user-specified vehicle and the specified owner to correlate the user-specified vehicle and the specified owner to one or more of the plurality of vehicle sale transactions; and

using the correlation to generate the owner satisfaction curve.

21. The computer program product of claim 19, further comprising:

identifying one or more classes of the plurality of vehicle sale transactions;

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

associating the user-specified vehicle and the specified owner with a class of the plurality of classes;

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

generating the owner satisfaction curve for the user-specified vehicle and the specified owner using the retrieved set of satisfaction curve parameters of the class with which the user-specified vehicle and the specified owner are associated.