SYSTEM AND METHOD FOR ELECTRONIC PROCESSING OF VEHICLE TRANSACTIONS BASED ON IMAGE DETECTION OF VEHICLE LICENSE PLATE

A system and method is provided for automatically identifying a vehicle and facilitating a transaction related to the vehicle. The system includes a first computing apparatus having an image sensor that captures optical images of a vehicle and an interface that transmits the captured optical image. The system further includes a remote server that receives the transmitted and captured optical image, automatically scans the captured optical image to identify one or more distinguishing features of the vehicle, automatically compares the identified distinguishing features with a unique feature database that includes respective vehicle identification information associated with unique vehicle features, automatically identify the vehicle identification information that corresponds to the vehicle upon determining a match, automatically identify vehicle configuration information based on the identified vehicle identification information, and automatically transmit the identified vehicle configuration information to the first computing apparatus to be displayed thereon.