Patent ID: 8645193

Claim:
A vehicle data system, comprising: a processor; a memory; an interface module executing on a server computer for receiving, from a user device, vehicle data associated with an individual used car; a data gathering module for gathering historical used car data and used car transaction data on a plurality of vehicles via a network; and a processing module configured to: perform a back end offline processing which includes: construct a decay curve representing residual values of the plurality of vehicles, the residual values being determined utilizing the historical used car data and the used car transaction data; construct research datasets which include temporally-weighted historical observations, geo-specific socioeconomic data, and vehicle-specific attributes relating to the plurality of vehicles; determine regression coefficients for a pricing model for estimating a used vehicle price for a user-specified configuration of a used vehicle; perform a front end online processing which includes: subsequent to receiving the vehicle data from the user device, derive regression variables utilizing the research datasets from the back end processing and the vehicle data from the user device; and determine pricing data, the pricing data comprising an estimated used vehicle retail price for the individual used car based on the pricing model, utilizing the regression coefficients from the back end processing, the regression variables from the front end processing, and a residual value for the individual used car, the residual value for the individual used car being determined utilizing the vehicle data from the user device and the decay curve from the back end processing.