What is FMV?
The Fair Market Value (FMV) 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 use sources that compute and update the FMV calculations daily using a complex algorithm that takes into account millions of data points including make, model, trim, year, mileage, options, demographics and vehicle history.
The FMV is then intended to provide pricing guidance as we calculate the selling price of our vehicles.
What's in our Great Deal pricing strategy?
To calculate our Great Deal prices, we compare the price of a vehicle against its estimated Fair Market Value.
From this calculation, we then adjust the price of the vehicle so that it is below its FMV and that it falls in the highest end of the spectrum in terms of the rate quality of the deal.
We work on this relentlessly in order to ensure that the prices on our vehicles are priced to always show as a Great Deal and what we believe to be the best deal in your market.
We solely depend on the above described tools and algorithms in order to mathematically price our vehicles and not by how much we paid for a particular vehicle.
Our Great Deal ratings are intended to provide shopping guidance for you as you compare our prices against similar vehicles priced higher at other dealerships.