Patent ID: 7606671

Claim:
The method of determining the diminished value of a used automobile available for resale, with the automobile having panels with an exterior surface, comprising the steps of: (a) utilizing a paint thickness gauge and determining the paint thickness at various data points on the exterior surface of the panels forming the top, sides, front, and rear of an automobile; (b) storing the readings of the data points which have a coefficient of variation (COV) in a data collection device; (c) calculating the coefficient of variation (COV) of the readings of the data points by using the formulas: S = ∑ i = 1 n ⁢ ( x i - mean ) 2 ( n - 1 ) and C ⁢ ⁢ O ⁢ ⁢ V = S mean × 100 where i=index of iteration starting at 1, n=number of readings, x=individual readings, mean=mean average of readings, Σ=summation, √{square root over ( )}=square root and S=sum; (d) placing the individual readings of the data points onto a template of the automobile; (e) assembling the coefficient of variation and automobile template with the data point readings along with other economic factors relating to the value of the automobile namely, tire wear, engine condition, frame damage, mileage, color and or other condition which can effect value of the automobile; and (f) viewing the automobile on or off-site to thereby evaluate the economic factors of the automobile thereby determining the diminished value of the used automobile.