Patent ID: 11915275
Assignee: CAPITAL ONE SERVICES, LLC
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 14:
15. A system, comprising:
a processor; and a memory storing instructions that, when executed by the processor, causes the processor to perform operations including:
receiving a request from a user for a value estimate of a target vehicle, the request including driver data of the user, location data of the user, and vehicle data of the target vehicle;
retrieving third-party transaction data related to the vehicle data from one or more databases;
determining a depreciation rate for the target vehicle based on the third-party transaction data;
retrieving third-party ownership data related to the vehicle data from the one or more databases;
determining a decommission rate for the target vehicle based on third-party ownership data;
retrieving local environmental data related to the location data of the user from the one or more databases;
determining a deterioration rate for the target vehicle specific to the user's location and driving behavior based on the local environmental data and the driver data of the user;
determining, using a regression model, the value estimate of the target vehicle based on a plurality of variables including at least the deterioration rate and one or more of the third-party transaction data, the third-party ownership data, the local environmental data, the depreciation rate, or the decommission rate, wherein the value estimate determined is specific to the user based on the use of the deterioration rate in the determination, and wherein the regression model is built on test data from previously executed requests for value estimates of target vehicles and includes a base logarithmic model having a plurality of weighted factors associated with the plurality of variables;
responsive to the request, providing the value estimate to the user;
determining a duration between periodic queries of the one or more databases to determine whether additional data, including additional third-party transaction data, additional third-party ownership data, or additional local environmental data, is stored in the one or more databases, wherein the duration is determined as a function of one or more characteristics of one or more of the target vehicle, the user, and the location data that are indicative of data stability;
periodically querying the one or more databases in accordance with the duration; in response to determining additional data is stored in the one or more databases based on the periodic querying, retrieving the additional data from the one or more databases, updating one or more of the depreciation rate, the decommission rate, and the deterioration rate based on the additional data, and modifying the regression model based on the updated one or more of the depreciation rate, the decommission rate, and the deterioration rate to determine an updated value estimate of the target vehicle, wherein modifying the regression model further includes building a subsequent iteration of the base logarithmic model; and
providing the value estimate of the target vehicle determined by the modified regression model as an updated response to the request.