System and Method for Determining Vehicle Price Adjustment Values

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.

What is claimed: 
     
         1 . A method for obtaining at least one price value for a specific used vehicle based on vehicle history attributes of the specific used vehicle, said method comprising:
 receiving a vehicle identification indicating a specific used vehicle;   receiving at least one vehicle history attribute indicator of the specific used vehicle;   querying a pricing model based on said at least one vehicle history attribute of the specific vehicle, said pricing model being based on a plurality of vehicle history records related to a plurality of vehicles and having vehicle history attributes regarding said vehicles and a plurality of transaction records including a transaction price, said pricing model obtained by performing mathematical modeling on vehicle history attributes from said vehicle history records and transaction prices obtained from said transaction records to obtain price values corresponding to said at least one vehicle history attribute; and   retrieving a price value for the specific vehicle from said pricing model based on said at least one vehicle history attribute indicator.