What is Instant market value and how can a seller sell for it?
65

Asked by darkmann Aug 29, 2020 at 09:59 AM about the 2011 Nissan Juke SV AWD

Question type: Shopping & Pricing

CarGurus is telling me the instant market value of my car.  What does that
mean and how do I sell for its instant market value?

2 Answers
40,150

TDolby answered 3 years ago

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.

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