System and method for providing a score for a used vehicle
One embodiment of the system and method described herein provides a score generator system that generates an automated vehicle specific valuation of a used car based on the physical and historical attributes of that vehicle. This score may indicate the likelihood that the vehicle will be on the road in a specific period of time. The score may give an absolute percentage of such likelihood or it may give a value relative to all other used vehicles in a database, all other used vehicles of the same make/model/year, or a certain subset of the vehicles in a database. In one embodiment, the score generator system includes a data link module for linking vehicle data and filter module for applying a multi-level filters that process the linked vehicle data.
1. A vehicle scoring system, comprising:
a Computer system having a processor that supports operation of a software application;
a data module, accessed on the computer system, including a plurality of vehicle data records obtained from at least one third party information database, in communication with the computer system, wherein the third party information database comprises at least one of title information database, registration information database, Department of Motor Vehicle (DMV) records database, auction records database, and accident records database;
a filter module, executed on the computer system comprising:
a first filter for obtaining relevant vehicle-related data from the data storage module's plurality of vehicle data records, the vehicle-related data comprising a plurality of factors relevant to a likelihood that a vehicle will be operation in a specific period of time;
a second filter for comparing the obtained vehicle-related data of a specific vehicle to the obtained vehicle-related data of comparison vehicles and assigning a numerical value to each of the factors comprising the relevant vehicle-related data; and
a third filter for weighting and combining the numerical values of the relevant data into a vehicle score for the specific vehicle, wherein weighting comprises applying a weight to each of the plurality of factors, the weight based on a relationship between each of the factors and the likelihood that the vehicle will be operational in a specific number of years, said relationship determined by a modeling technique applied to the plurality of data records,
wherein combining comprises adding the weighted numerical values and wherein the score comprises a numerical value indicative of a likelihood that the specific vehicle will be operational in a specific period of time as compared to the set of comparison vehicles, expressed as a number between 0 and 100; and
an output module for reporting the vehicle score to a user;
wherein the computer system is capable of accepting, from a user, only a standard vehicle identification number relating to the specific vehicle and communicating the vehicle identification number to the filter module; and
wherein the first filter bases its obtaining of relevant data on the vehicle identification number of the specific vehicle.
2. The vehicle scoring system of claim 1 , wherein the output module comprises a web server.
3. The vehicle scoring system of claim 1 , wherein the data storage module comprises a plurality of databases.
4. The vehicle scoring system of claim 3 , further comprising:
a data link module for linking data from the plurality of databases that is associated with at least the vehicle identifier; and
wherein the processor is capable of operating the data link module.
5. The vehicle scoring system of claim 1 , further comprising:
a modeling module for providing the filter module with at least one of the first filter, the second filter and the third filter.
6. The vehicle scoring system of claim 5 , wherein the modeling module uses at least a portion of the plurality of vehicle records in the data storage module to determine what types of data are relevant to the vehicle score.
7. The vehicle scoring system of claim 5 , wherein the modeling module uses at least a portion of the plurality of vehicle records in the data storage module to determine relative values of different types of data relevant to the vehicle score.
8. The vehicle scoring system of claim 1 , wherein the score is expressed as a number between 0 and 10.
9. The vehicle scoring system of claim 1 , wherein the score is expressed as a percentage value between 0% and 100%.
10. A vehicle scoring system, comprising:
a computer system having a processor that supports operation of a software application;
a data storage module, accessed on the computer system, including a plurality of vehicle data records obtained from at least one third party information database, in communication with the computer system, wherein the third party information database comprises at least one of title information database, registration information database, Department of Motor Vehicle (DMV) records database, auction records database, and accident records database;
a filter module, executed on the computer system, comprising:
a first filter for obtaining relevant vehicle-related data from the plurality of vehicle data records, the vehicle-related data comprising a plurality of factors relevant to a likelihood that a vehicle will be operational in a specific period of time, the vehicle-related data based on the vehicle identification number for a specific vehicle;
a second filter for comparing the obtained vehicle-related data of the specific vehicle to the obtained vehicle-related data of comparison vehicles and assigning a numerical value to each of the factors comprising the relevant vehicle-related data; and
a third filter for weighting and combining the numerical values of the relevant data into a vehicle score for the specific vehicle, wherein weighting comprises applying a weight determined by a modeling technique applied to the plurality of data records, wherein combining comprises adding the weighted numerical values and wherein the score comprises a numerical value indicative of a likelihood that the specific vehicle will be operational in a specific period of time, expressed as a number between 0 and 100; and
an output module for reporting the vehicle score to a user.
11. The vehicle scoring system of claim 10 , wherein the computer system is capable of accepting, from a user, a standard vehicle identification number relating to the specific vehicle and communicating the vehicle identification number to the filter module.