What's the deifintion for "INSTANT MARKET VALUE" AND "FAIR MARKET VALUE"?

supervisor
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Asked by Feb 07, 2013 at 02:39 PM about the Ford E-150

Question type: Shopping & Pricing

I see ratings on vehicle cost and two terms are user, Fair and Instant market value...can you explain.....

4 Answers

That's a good question. My Corolla is listed at $10,236 the same as a CE and mine is an LE, with power windows instead of crank, many other higher end features same year, 25,00 miles less..really don't know how they come up with those, have wondered myself

supervisor
10

Looked at a new Mustang Cobra for $57,000....while getting my 2010 Mustang GT serviced....sales guy was willing to knock off $10K from MSRP...without taking a breath. I wonder why the MSRP is so close to "Instant Market value" (IMV) cost.... how they can cut $10K off the price....seems like a crock to suggest IMV is what should be paid considering the example above. Rule of thumb I've used is start $5-$10K below MSRP sticker and your in the ball park.

1 out of 1 people think this is helpful.

it depends on your zip code...how easily is it shown in person...that's the main consideration with "fair market value"~

Instant Market Value will NEVER be correct as it is assuming things and putting that data together for one lovely amalgam that is going to be incorrect~

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