17945681. VEHICLE ASSESSMENT METHOD AND STORAGE MEDIUM simplified abstract (TOYOTA JIDOSHA KABUSHIKI KAISHA)

VEHICLE ASSESSMENT METHOD AND STORAGE MEDIUM

Organization Name

TOYOTA JIDOSHA KABUSHIKI KAISHA

Inventor(s)

Yohei Ogawa of Toyota-shi Aichi-ken (JP)

Jun Tahara of Toyota-shi Aichi-ken (JP)

VEHICLE ASSESSMENT METHOD AND STORAGE MEDIUM - A simplified explanation of the abstract

This abstract first appeared for US patent application 17945681 titled 'VEHICLE ASSESSMENT METHOD AND STORAGE MEDIUM

Simplified Explanation

The patent application describes a method for determining the assessed price of a target vehicle based on its information and market data on resale prices of similar vehicles. The method involves the following steps:

• Acquiring vehicle information and market information on resale prices of same-type vehicles.
• Determining whether the target vehicle is an average vehicle, a point-addition vehicle, or a point-deduction vehicle.
• Specifying an average assessed price of same-type vehicles within a distance range.
• Setting the assessed value for the target vehicle based on its classification:

 * If the target vehicle is an average vehicle, the average assessed price of same-type vehicles is used as the assessed value.
 * If the target vehicle is a point-addition vehicle, a price higher than the average assessed price is set as the assessed value.
 * If the target vehicle is a point-deduction vehicle, a price lower than the average assessed price is set as the assessed value.

• Outputting the set assessed price of the target vehicle.

Potential applications of this technology:

• Vehicle valuation services: This method can be used by companies or platforms that provide vehicle valuation services to determine the assessed price of a target vehicle accurately.
• Resale market analysis: The market information on resale prices of same-type vehicles can be used to analyze the trends and fluctuations in the resale market for specific vehicle types.

Problems solved by this technology:

• Inaccurate vehicle assessments: This method aims to provide a more accurate assessed price for a target vehicle by considering market data and classifying the vehicle based on its condition.
• Subjectivity in vehicle valuation: By using objective market data and a classification system, this method reduces the subjectivity involved in determining the assessed price of a vehicle.

Benefits of this technology:

• Improved accuracy: By considering market data and classifying the target vehicle, this method aims to provide a more accurate assessed price, reducing the risk of overvaluation or undervaluation.
• Time and cost efficiency: The use of market data and a classification system streamlines the process of determining the assessed price, saving time and resources for vehicle valuation services.

Original Abstract Submitted

Vehicle information on a target vehicle and market information on resale prices or assessed prices of same-type vehicles are acquired. Which one of an average vehicle, a point-addition vehicle, and a point-deduction vehicle corresponds to the target vehicle is determined, and an average assessed price of the same-type vehicles in a distance range is specified. When the target vehicle is the average vehicle, the average assessed price of the same-type vehicles is set as an assessed value for the target vehicle. When the target vehicle is the point-addition vehicle, a price higher than the average assessed price of the same-type vehicles is set as the assessed value. When the target vehicle is the point-deduction vehicle, a price lower than the average assessed price of the same-type vehicles is set as the assessed value. The set assessed price of the target vehicle is output.