System and method for providing a price for a vehicle

Patent metadata

Field	Value
Publication number	US-2024029095-A1
Application number	US-202318480460-A
Country	US
Kind code	A1
Filing date	Oct 3, 2023
Priority date	Apr 30, 2019
Publication date	Jan 25, 2024
Grant date	—

Abstract

System and methods for providing a target price for a target vehicle with a target mileage are provided. One exemplary method includes receiving attributes for the target vehicle, receiving prices for sold vehicles having attributes corresponding to the target vehicle attributes, and receiving mileages for the sold vehicles. The exemplary method may further include generating a linear regression model relating the sold vehicle mileages to the sold vehicle prices, and providing the target price for the target vehicle based on the model.

First claim

What is claimed is:

1 . A system for reducing user choice overload via dynamic binning, the system comprising:
one or more memory devices storing information and instructions; and one or more processors configured to execute the instructions to perform operations comprising:
generating bins associated with mileage ranges using vehicle sales data, the vehicle sales data comprising sales data for sold vehicles having attributes corresponding to user-selected attributes;
determining, for each bin of the bins, a target vehicle price associated with the bin based on average prices for the sold vehicles having mileages within the mileage range associated with the bin;
generating, via a graphical user interface, a user-moveable graphical component along a sliding bar based on the target vehicle prices associated with the bins such that (i) the sliding bar comprises first data points representing a subset of the target vehicle prices associated with the bins and (ii) the user-movable graphical component comprises first and second user-moveable portions of the user-moveable graphical component that are along the sliding bar, the first user-movable portion of the user-moveable graphical component corresponding to a first target vehicle price determined for a first bin of the bins, the second user-moveable portion of the user-moveable graphical component corresponding to a second target vehicle price determined for a second bin of the bins different from the first bin; and
in response to detecting a user adjustment to at least one other user-moveable graphical component, updating, via the graphical user interface, using at least one weighting criterion, the sliding bar to comprise second data points representing a different subset of the target vehicle prices associated with the bins.

2 . The system of claim 1 , wherein the operations further comprise:
determining, based on the target vehicle prices associated with the bins, the first target vehicle price and the second target vehicle price, wherein the first target vehicle price is greater than the second target vehicle price; and generating the first user-moveable portion and the second user-moveable portion of the user-moveable graphical component based on the first target vehicle price and the second target vehicle price, respectively.

3 . The system of claim 1 , wherein the operations further comprise:
determining an importance level, based on the user adjustment to the at least one other user-moveable graphical component, associated with a first user-selected attribute of the user-selected attributes, wherein the first user-selected attribute is a first mileage range; expanding, based on the importance level, the first user-selected attribute to a second mileage range that has a greater range than the first mileage range; and generating the bins associated with the mileage ranges based on the sales data for the sold vehicles corresponding to the second mileage range.

4 . The system of claim 3 , wherein the operations further comprise:
determining whether the importance level associated with the first user-selected attribute is below a level threshold, wherein expanding the first user-selected attribute comprises expanding the first user-selected attribute to the second mileage range based on a determination that the importance level is below the level threshold.

5 . The system of claim 1 , wherein the operations further comprise:
selecting a first subset of the user-selected attributes based on a user selection of a high importance level, based on the user adjustment to the at least one other user-moveable graphical component, for the first subset of the user-selected attributes; and generating the bins associated with the mileage ranges based on the sales data for sold vehicles corresponding to the first subset of the user-selected attributes.

6 . The system of claim 1 , wherein the bins are generated in response to determining that the user-selected attributes for a target vehicle satisfy an attribute number threshold.

7 . A method comprising:
generating a set of groups associated with mileage ranges using vehicle sales data, the vehicle sales data comprising sales data for sold vehicles; determining, for each group of the set of groups, a target vehicle price associated with the group based on prices for the sold vehicles having mileages within the mileage range associated with the group; generating, via a graphical user interface, a user-movable graphical component along another graphical component based on the target vehicle prices associated with the set of groups such that (i) the other graphical component comprises first data points representing a subset of the target vehicle prices associated with the set of groups and (ii) the user-movable graphical component comprises first and second user-moveable portions of the user-moveable graphical component that are along the other graphical component, the first user-movable portion of the user-moveable graphical component corresponding to a first target vehicle price determined for a first group of the set of groups, the second user-moveable portion of the user-moveable graphical component corresponding to a second target vehicle price determined for a second group of the set of groups; and in response to detecting a user adjustment to at least one other user-moveable graphical component, updating, via the graphical user interface, using at least one weighting criterion, the other graphical component to comprise second data points representing a different subset of the target vehicle prices associated with the set of groups, wherein the user adjustment to the at least one other user-movable graphical component is detected.

8 . The method of claim 7 , wherein the at least one other user-movable graphical component is along a sliding bar, and wherein the sliding bar comprises third data points representing one or more weights.

9 . The method of claim 7 , further comprising:
determining, based on the target vehicle prices associated with the set of groups, the first target vehicle price and the second target vehicle price, wherein the first target vehicle price is greater than the second target vehicle price; and generating, via the graphical user interface, the first user-moveable portion and the second user-moveable portion of the user-moveable graphical component based on the first target vehicle price and the second target vehicle price, respectively.

10 . The method of claim 7 , further comprising:
determining an importance level, based on the user adjustment to the at least one other user-moveable component, associated with a first user-selected attribute of the user-selected attributes, wherein the first user-selected attribute is a first mileage range; expanding, based on the importance level, the first user-selected attribute to a second mileage range that has a greater range than the first mileage range; and generating the set of groups associated with the mileage ranges based on the sales data for the sold vehicles corresponding to the second mileage range.

11 . The method of claim 7 , further comprising:
determining whether an importance level associated with a first user-selected attribute satisfies a level threshold, wherein expanding the first user-selected attribute comprises expanding the first user-selected attribute to a second mileage range based on a determination that the importance level fails to satisfy the level threshold.

12 . The method of claim 7 , further comprising:
selecting a first subset of user-selected attributes based on a user selection of a high importance level, based on the user adjustment

Assignees

• Capital One Services Llc

Inventors

• Anderson Jacob

Classifications

• G06Q30/0206 Primary

  Price or cost determination based on market factors · CPC title

• G06F30/20

  Design optimisation, verification or simulation (optimisation, verification or simulation of circuit designs G06F30/30) · CPC title

• G06F16/2457

  with adaptation to user needs · CPC title