The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 15, 2014
Filed:
Oct. 01, 2010
Michael Swinson, Santa Monica, CA (US);
Jesse Toprak, Tarzana, CA (US);
Mikhail Semeniuk, Golden Valley, MN (US);
Scott Painter, Bel Air, CA (US);
Michael Swinson, Santa Monica, CA (US);
Jesse Toprak, Tarzana, CA (US);
Mikhail Semeniuk, Golden Valley, MN (US);
Scott Painter, Bel Air, CA (US);
Truecar, Inc., Santa Monica, CA (US);
Abstract
Embodiments disclosed herein can provide consumers with an effective tool for evaluating the negotiability of prices for vehicles in the marketplace. The tool may include a Price Flexibility Score which measures the elasticity of transaction prices by vehicle model. Specifically, a method may dynamically incorporate factors that affect price variance, convert those factors into variables, generate order statistics for each of the variables, apply a weighting factor to the variables to generate a price flexibility score for each make-model, and determine a negotiability index utilizing the price flexibility score. In one embodiment, the process of determining the negotiability index may be fully driven by a price flexibility model that incorporates a plurality of factors.