PRICE SCORING FOR VEHICLES

摘要

Vehicle pricing such as used vehicle pricing is improved by supplementing statistical modeling techniques with additional algorithms to accommodate factors such as geography and dealer reputation that do not readily yield to regression analysis or similar tools that might be used to characterize a population.

主权项

1. A method for estimating vehicle values in a geographic region, the method comprising:
creating a pricing model for fair market value of a vehicle type based upon a first data set of vehicles obtained from a first geographic region; identifying a second data set of vehicles from a second geographic region within the first geographic region; calculating a median offset between a first median for the first data set scored according the pricing model and a second median for the second data set scored according to the pricing model; adjusting the pricing model according to the median offset, thereby providing an adjusted pricing model for the second geographic region; and scoring a number of vehicles within the second geographic region with the adjusted pricing model, thereby providing scored vehicles.