Vehicle valuation system and method

• US 9,799,058 B2
• Filed: 04/23/2015
• Issued: 10/24/2017
• Est. Priority Date: 01/31/2015
• Status: Active Grant

• Current Assignee: Foribus LLC
• Original Assignee: Foribus LLC
• Inventors: Gill, Faheem
• Primary Examiner(s): Zarroli, Michael
• Application Number:
  US14/694,874
• Publication Number:
  US 20160225035A1
• Time in Patent Office: 915 Days
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G07C 5/008 communicating information to a remotely located station transmission systems for measured values G08C
• CPC Class Codes: G07C 5/02 Registering or indicating driving, working, idle, or waiting time only apparatus forming part of taximeters G07B13/00
• CPC Class Codes: G07C 5/08 Registering or indicating performance data other than driving, working, idle, or waiting time, with or without registering driving, working, idle or waiting time

Abstract

A method comprising steps (a) a vehicle comprising telemetric equipment is provided; (b) driving data is collected, wherein the driving data is collected using the telemetric equipment; (c) environmental data is collected; (d) vehicle original equipment manufacturer data comprising vehicle recall data and vehicle warranty claim data is collected; (e) vehicle pricing data is collected, wherein the pricing data is collected from external sources; and (f) a vehicle valuation is generated.

Claims

1. A method comprising steps:

(a) a vehicle comprising telemetric equipment is provided, wherein the telemetric equipment includes on-board diagnostics (OBDII), dedicated short-range communications (DSRC), Wi-Fi, 802.11p, and long-term evolution (LTE) telecommunication, wherein the dedicated short-range communications (DSRC) includes a power source, an antenna, and a chipset;

(b) driving data is collected, wherein the driving data is collected using the telemetric equipment;

(c) environmental data is collected;

(d) vehicle original equipment manufacturer data comprising vehicle recall data and vehicle warranty claim data is collected;

(e) vehicle pricing data is collected, wherein the pricing data is collected from external sources capturing a market price for the vehicle; and

(f) a vehicle valuation is generated.

2. The method of claim 1, the vehicle comprises a dashboard, a front bumper system, and a rear bumper system, and wherein the dedicated short-range communications (DSRC) is installed on both the front and rear bumper system, and the on-board diagnostics (OBDII) is installed under the dashboard.

3. The method of claim 2, further comprising a step of displaying a driving score to a user via a Human Machine Interface (HMI) located in the dashboard, wherein the driving score is based on the driving data collected.

4. The method of claim 1, wherein in step (b), the vehicle driving data comprises data on vehicle lane changing, vehicle tailgating, distance to other vehicles, and data collected from road signs and traffic lights.

5. The method of claim 4, wherein in step (b), the vehicle driving data further comprises vehicle fuel usage, vehicle speed, vehicle revolutions per minute (RPM), vehicle braking data, vehicle acceleration data, current time, and diagnostic codes.

6. The method of claim 1, wherein in step (c), the environmental data comprises weather data collected from commercial weather services, wherein the weather data is matched to the geolocation of the vehicle.

7. The method of claim 1, wherein in step (f), the vehicle valuation is compared to a market price for similar vehicles, wherein the market price is based on vehicle sales and historical data.

8. The method of claim 1, further providing a step wherein the vehicle original equipment manufacturer data is compared to the vehicle driving data and environmental data.

9. A system comprising:

an Internet-connected computerized appliance having a processor and coupled to a data repository, the processor executing software from a non-transitory medium, the software providing an interactive interface to a system, the system enabling a user to;

log on and enter vehicle information corresponding to a vehicle, wherein the vehicle comprises telemetric equipment including on-board diagnostics (OBDII), dedicated short-range communications (DSRC), Wi-Fi, 802.11p, and long-term evolution (LTE) telecommunication, wherein the dedicated short-range communications (DSRC) includes a power source, an antenna, and a chipset;

access a vehicle report comprising vehicle data;

access a driving score; and

access a vehicle valuation.

10. The system of claim 9, wherein the vehicle information comprises a vehicle license plate number, an asset code, a region, a vehicle make, a vehicle year, and a vehicle model.

11. The system of claim 9, wherein the vehicle data comprises data correlating to the time the vehicle spent over-speeding, a number of instances of vehicle hard braking, a number of instances of vehicle hard acceleration, a time the vehicle spent redlining, a distance the vehicle has driven, and a total time the data has been recording.

12. The system of claim 11, wherein the driving score is correlated to the vehicle data.

13. The system of claim 9, wherein the vehicle valuation is compared to a market price for similar vehicles, wherein the market price is based on vehicle sales and historical data.

14. A method comprising steps:

(a) providing a vehicle, wherein the vehicle comprises a dashboard, a front bumper system, a rear bumper system, and telemetric equipment, wherein the telemetric equipment includes on-board diagnostics (OBDII), dedicated short-range communications (DSRC), Wi-Fi, 802.11p, and long-term evolution (LTE) telecommunication, wherein the dedicated short-range communications (DSRC) includes a power source, an antenna, and a chipset, wherein the dedicated short-range communications (DSRC) is installed on both the front and rear bumper system, and the on-board diagnostics (OBDII) is installed under the dashboard;

(b) collecting driving data, wherein the driving data is collected using the telemetric equipment;

(c) collecting environmental data;

(d) collecting vehicle original equipment manufacturer data, the original equipment manufacturer data includes vehicle recall data and vehicle warranty claim data;

(e) collecting vehicle pricing data, wherein the pricing data is collected from external sources capturing a market price for the vehicle;

(f) generating a vehicle valuation; and

(g) displaying a driving score to a user via a Human Machine Interface (HMI) located in the dashboard, wherein the driving score is based on the driving data collected.