How is the IMV calculated for Private Sellers vs Dealers

Asked by Guru9ZBNCC Jan 19, 2021 at 11:09 AM about the 2007 Toyota Highlander Limited V6

Question type: Shopping & Pricing

Is the IMV calculated differently for Private Sellers vs Dealers for the same
vehicle?  My listing as a Private Seller shows Fair Value with the price Above
IMV.  Similar mileage and year Dealer vehicles show Fair Value with the price
Below the IMV.

1 Answer

33,960

This is found under the help link, The CarGurus Instant Market Value IMV is an estimated fair retail price for a vehicle based on a detailed analysis of comparable current and previous car listings in your market. We compute and update our IMV calculations daily using a complex algorithm that takes into account millions of data points including make, model, trim, year, mileage, options and vehicle history. Our IMV is intended to provide pricing guidance but is not an official appraisal or guarantee. What's in our Deal Ratings? To calculate our deal ratings, we compare the asking price of a vehicle to what we estimate to be its fair market value the CarGurus Instant Market Value, and factor in dealer reputation. From this calculation, we rate the quality of the deal: Great, Good, Fair, High or Overpriced. We always show what we believe to be the best deals first based on our algorithm, not how much a dealer pays us. Our Deal Ratings are intended to provide shopping guidance but are not a guarantee of value.

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