what is fair market value

Asked by Apr 03, 2013 at 04:17 AM

Question type: General

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The Instant Market Value (IMV) of a vehicle is CarGurus’ estimated fair retail price for a vehicle based on a detailed analysis of comparable current and previously sold car listings in your local market. Our analysis takes into account specific details including make, model, trim, year, mileage, options and vehicle history. CarGurus' IMV is used to determine whether each listed car is a great, good, fair or overpriced deal. CarGurus strives to provide full transparency to your car shopping experience so you know if you are getting a good or bad deal.

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