pricing and evaluating an advertised car on cargurus
If the price of the advertised 2013 Toyota Prius is lowered from $12,900 and considered a fair deal, what is cargurus evaluation if the price becomes $11,500. Is it a good or great deal? How do you determine this?
This is a technical forum (not the site administrators. Check the FAQs in IMV. 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 (a.k.a. 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.