System and method for determining vehicle price values
First Claim
1. A method for creating a model of price values associated with vehicle history attributes comprising:
- obtaining, using a vehicle history information computer system, a plurality of vehicle history records, each of the plurality of vehicle history records is related to a particular vehicle and including at least one vehicle history attribute regarding said particular vehicle;
obtaining, using the vehicle history information computer system, a plurality of vehicle transaction records, each of the plurality of vehicle transaction records includes a transaction value;
performing, using the vehicle history information computer system, mathematical modeling on the at least one vehicle history attribute obtained from said plurality of vehicle history records and the transaction value obtained from said plurality of transaction records to generate a price value for the at least one vehicle history attribute; and
storing, in a physical memory of the vehicle history information computer system, the price value in a pricing model.
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Abstract
System and method for computing price values associated with vehicle history attributes including a vehicle history database with vehicle history records, a transaction database, a vehicle history knowledge determination module adapted to determine whether a sale transaction related to a transaction record occurred with buyer'"'"'s knowledge of the vehicle history attributes associated with the vehicle of the transaction record and to classify each transaction record based on whether buyer possessed knowledge of the vehicle history attributes, and a price adjustment module adapted to determine price values for the vehicle history attributes based on the vehicle history datasets and classification of the plurality of transaction records. In accordance with one aspect, the present invention may be implemented as a computer readable medium with instructions.
59 Citations
32 Claims
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1. A method for creating a model of price values associated with vehicle history attributes comprising:
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obtaining, using a vehicle history information computer system, a plurality of vehicle history records, each of the plurality of vehicle history records is related to a particular vehicle and including at least one vehicle history attribute regarding said particular vehicle; obtaining, using the vehicle history information computer system, a plurality of vehicle transaction records, each of the plurality of vehicle transaction records includes a transaction value; performing, using the vehicle history information computer system, mathematical modeling on the at least one vehicle history attribute obtained from said plurality of vehicle history records and the transaction value obtained from said plurality of transaction records to generate a price value for the at least one vehicle history attribute; and storing, in a physical memory of the vehicle history information computer system, the price value in a pricing model. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A computer system for creating a model of price values associated with vehicle history attributes comprising:
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a vehicle history report module implemented on a computing device and configured to obtain a plurality of vehicle history records, each of the plurality of vehicle history records is related to a particular vehicle and including at least one vehicle history attribute regarding said particular vehicle, said vehicle history report module also being configured to obtain a plurality of vehicle transaction records, each of the plurality of vehicle transaction records including a transaction value; a price adjustment module implemented on the computing device and configured to perform mathematical modeling on the at least one vehicle history attribute obtained from said plurality of vehicle history records and the transaction value obtained from said plurality of vehicle transaction records to generate a price value for the at least one vehicle history attributes; and a database module configured to store the price value in a pricing model on a computer memory device. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
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Specification