Systems and methods for determining vehicle salvage value

Details Systems and methods for determining vehicle salvage value Systems and methods for determining vehicle salvage value

G - Physics

06

Q

G06Q 30/00 (2006.01) G06Q 40/00 (2006.01)

Patent

CA 2536988

An exemplary system for determining vehicle salvage value includes a valuation subsystem configured to communicate with one or more access devices over a data communication network. The valuation subsystem includes a bid module and a valuation module. The bid module is configured to solicit bids for a vehicle over the data communication network and to receive one or more bids for the vehicle. The valuation module is configured to set a salvage value of the vehicle based on at least one of the received bids. In some examples, the received bids include a high bid, and the valuation module is configured to set the salvage value approximately equal to the high bid. In some examples, the bid module is configured to solicit virtual bids in real time over the data communication network.

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