Build your car on Edmunds to see the Edmunds True Market Value (TMV®).
A Note about Edmunds True Market Value®
Edmunds True Market Value® (TMV®), also known as Edmunds Suggested Price, is Edmunds' estimate of the current average transaction price — that is, what others are paying — for new or used vehicles in your area so that you can begin your negotiations with a fair price in mind. For customers appraising their vehicles for sale, the Edmunds TMV is specifically for used vehicle trade-ins, to help you understand how much you might expect to receive when you sell your vehicle to a dealer.
We determine those prices based on a variety of factors, including actual transaction data from dealers. CarMax is one of the dealers from which Edmunds obtains transaction data.
Edmunds has been a wholly owned subsidiary of CarMax, Inc. since June 2021. However, other than the incorporation of CarMax's transaction data by Edmunds into TMV® calculations, CarMax does not participate in or otherwise influence the manner in which Edmunds computes those values.
If you've configured a vehicle using this page or the "build and price" option, you'll see the Edmunds Suggested Price (formerly called True Market Value) along with two other key pieces of information: the invoice price of the auto (roughly what the dealer paid for it) and the manufacturer's suggested retail price (MSRP), which is also known as the sticker price. You'll also see the suggested price when browsing a specific piece of new car inventory.
It is important to get the details of the year, make, model and options right or you may get incorrect results that can lead to misunderstandings at the dealership.
Used car appraisals will show different figures. More on that later.
The Edmunds Suggested Price is essential information for you as an auto shopper because cars sell at very different prices depending on their availability and popularity. Knowing this figure allows you to make an offer that a dealer will immediately recognize as reasonable. That means negotiations will take less time and be more relaxed. You'll also see the Edmunds Suggested Price on the Edmunds app and mobile site, so you can check TMV pricing while you're on the car lot.
What Goes Into Edmunds Suggested Price
For customers looking to purchase a vehicle, the Edmunds Suggested Price, also known as Edmunds True Market Value, is what we recommend you pay, not including taxes or fees. It is based on our analysis of millions of data points, including supply, demand, incentives, options and recent nearby transactions. It estimates a vehicle's average transaction price, not its "out the door" cost. This means it will not include incentives and fees that are typically applied after a transaction price has been determined. These include manufacturer-to-consumer rebates (such as dealer cash), sales tax, DMV fees and dealer documentation ("doc") fees. Here's more about new car fees.
We determine Edmunds Suggested Price based on a variety of factors, including actual transaction data from dealers. CarMax is one of the dealers from which Edmunds obtains transaction data.
Edmunds has been a wholly owned subsidiary of CarMax, Inc. since June 2021. However, other than the incorporation of CarMax's transaction data by Edmunds into TMV® calculations, CarMax does not participate in or otherwise influence the manner in which Edmunds computes those values.
Edmunds Suggested Price for New Car Shopping
Now that you know what the Edmunds Suggested Price is and where to find it, here are some tips to help you get a good deal.
The Edmunds Suggested Price is particularly useful when you use it in conjunction with a price quote from a dealer or when you're at the dealer to inquire about an auto you're interested in.
If the car price is greater than the suggested price, mention the figure to the salesperson when you're countering an offer. Say the salesperson had quoted you a price of $30,000, but the suggested price for the car is $28,000. Tell the salesperson: "I've had a chance to do some research on this car, and according to Edmunds, it's selling for about $28,000. If you can beat that price, we'll have a deal."
Other buyers just want to cut to the chase and will be satisfied with a fair deal, within reason. If this is your style, offer to pay the suggested price. It helps to have a screenshot or printout of the suggested price handy to show the salesperson you're not making things up.
There is no guarantee the salesperson will accept your offer to pay the Edmunds price. Edmunds data, while accurate, isn't infallible. There will be times when we don't have enough data to give accurate results or there is a trend that isn't being reflected in the numbers. In these cases, it's best to get your own "real-world" TMV. Talk to three dealerships to get price quotes. This tactic should give you an idea of the vehicle's actual selling price.
Edmunds Suggested Price and Leasing
While Edmunds does not offer specific prices for leasing, the suggested price of a car is still a useful piece of information if you plan to lease. A monthly lease payment is based on the selling price of the car, or the "cap cost," in leasing lingo. The lower the cost of the car, the lower the monthly lease payment will be. Once you determine the market value of a new car, you can enter that price into the Edmunds auto lease calculator, along with other information about the car, to get an estimated lease payment.
Used Car Appraisal Pricing
Edmunds has a handy appraisal tool for establishing the value of used cars. You'll want to know this value when the time comes to sell your vehicle or use it as a trade-in. This is called the "trade-in value." If you are buying a used car from a dealership, you also can look up its "dealer retail" price using the appraisal tool. The "private party" price is what you'd expect a private seller to ask for the car. If you're the seller, price your car slightly higher to leave room for negotiation.
As you use the tool to get a fair market price, it's important to be accurate and honest about the options and the condition level of the used car. Most vehicles will be in "clean" or "average" condition. Very few will qualify for "outstanding" condition.
Edmunds also provides market prices for certified pre-owned cars. Once you've entered a car's make, model, year, options, mileage and condition, the information for a certified pre-owned car displays at the bottom of the results page. Again, these are average prices and the final cost of the car is negotiable.
Keep Track of the Important Car Buying Figures
You'll hear lots of car pricing terms tossed around when you're shopping and negotiating for a new car or used car. Amid all the talk of MSRP, sticker, savings and invoice, keep the Edmunds Suggested Price in mind. That's the number that will help put things into perspective.
Edmunds True Market Value® (TMV®), also known as Edmunds Suggested Price, is a pricing system that helps you determine the average transaction price — or what others are paying — for new or used vehicles in your area so that you can begin your negotiations with a fair price in mind. For customers appraising their vehicles for sale, Edmunds TMV helps you understand how much you might expect to receive when you sell.
We determine those prices based on a variety of factors, including actual transaction data from dealers. CarMax is one of the dealers from which Edmunds obtains transaction data.
Edmunds has been a wholly owned subsidiary of CarMax, Inc. since June 2021. However, other than the incorporation of CarMax's transaction data by Edmunds into TMV® calculations, CarMax does not participate in or otherwise influence the manner in which Edmunds computes those values.
Edmunds' pricing system estimates a vehicle's average transaction price, not its "out-the-door" cost. Therefore, TMV prices DO take into account any incentives and fees that may affect the transaction price, including:
manufacturer-to-dealer incentives (also called dealer cash)
destination charges
advertising fees (when applicable)
However, Edmunds Suggested Prices DO NOT include most incentives and fees that are typically applied after a transaction price has been determined, including:
manufacturer-to-consumer rebates (often called cash rebates)
sales tax
license or registration fees
dealer title or documentation (“doc”) fees
Please note that, unfortunately, we are not able to provide appraisals for the following:
Model years prior to 1990
Exotic vehicles
RVs, motor homes, commercial trucks, tractors or trailers
Motorcycles or ATVs
Vehicles with salvage titles
Demo vehicles
Non-U.S. vehicles
Customized vehicles or aftermarket accessories
We determine those prices based on a variety of factors, including actual transaction data from dealers. CarMax is one of the dealers from which Edmunds obtains transaction data.
Edmunds has been a wholly owned subsidiary of CarMax, Inc. since June 2021. However, other than the incorporation of CarMax's transaction data by Edmunds into TMV® calculations, CarMax does not participate in or otherwise influence the manner in which Edmunds computes those values.
Yes, Edmunds Suggested Prices reflect varying market conditions for new and used vehicle sales throughout the country. These factors can include regional marketing fees, which are not called out as separate line items but, if applicable, are factored into the overall suggested price.
Data is downloaded weekly from a dealer management system of 5,000 dealerships and dealer groups across the country. Edmunds receives data from roughly 25% of all U.S. dealerships.
Edmunds has been a wholly owned subsidiary of CarMax, Inc. since June 2021. CarMax is one of the dealers from which Edmunds obtains transaction data. However, other than the incorporation of CarMax's transaction data by Edmunds into TMV® calculations, CarMax does not participate in or otherwise influence the manner in which Edmunds computes those values.
Edmunds uses a contracted vendor to extract only the specific data a dealership has approved to be shared from its dealer management system. This data is then delivered electronically to Edmunds.
Edmunds has been a wholly owned subsidiary of CarMax, Inc. since June 2021. CarMax is one of the dealers from which Edmunds obtains transaction data. However, other than the incorporation of CarMax's transaction data by Edmunds into TMV® calculations, CarMax does not participate in or otherwise influence the manner in which Edmunds computes those values.
Edmunds has been a wholly owned subsidiary of CarMax, Inc. since June 2021.
Edmunds True Market Value® (TMV®) – also known as Edmunds Suggested Price – is our estimate of the current average transaction price — that is, what others are paying — for vehicles. We determine those prices based on a variety of factors, including actual transaction data from dealers. CarMax is one of the dealers from which Edmunds obtains transaction data. However, other than the incorporation of CarMax's transaction data by Edmunds into TMV® calculations, CarMax does not participate in or otherwise influence the manner in which Edmunds computes those values.
The data is needed to establish Edmunds' Suggested Prices and appraisal values. More transaction data translates into higher accuracy for TMV® pricing.
The goal is to determine the most commonly paid price in the marketplace based on actual transaction prices. As a result, dealers can expect a fair profit and consumers can expect a fair deal without lengthy and stressful negotiations.
The national base price, destination charges, regional adjustments, color adjustment, optional equipment and any applicable incentives are called out and figured into a bottom-line Edmunds Suggested Price for new vehicles. Edmunds price appraisals for used vehicles also include condition and mileage adjustments
Invoice price (sometimes referred to as "dealer cost") is the price that appears on the invoice that the manufacturer sends to the dealer when the dealer receives a car from the factory.
Knowing the invoice price is an important part of shopping for a new vehicle, but it isn't the only number to focus on. The true number is often in between the manufacturer's suggested retail price (MSRP) and invoice. This is where Edmunds Suggested Price comes into play since it looks at what other consumers are actually paying for a vehicle and reveals a fair price to pay.
Please note, however, that the invoice price is almost always higher than the amount the dealer actually ends up paying to the manufacturer. This results from a variety of discounts offered to the dealer that do not appear on the invoice. Also note that the invoice price does not reflect any manufacturer-to-consumer rebates, the destination charge, or the tax, title, license, advertising or registration fees.
Invoice prices on our site match the price listed in a document from the auto manufacturer and distributed to its dealers commonly known as the "dealer order guide." However, an individual dealer may add items such as advertising fees.
Please note when comparing invoice prices that it's important to ensure the vehicle's styles and options are an exact match. For example, the invoice price of a Honda CR-V EX FWD (front-wheel drive) will be slightly less than the Honda CR-V EX AWD (all-wheel drive).
Also, regional pricing differences can be the cause of a discrepancy. For example, in the South and Southeast, large independent distributors control the pricing of Toyota vehicles, and they may set different prices than those established by Toyota for the rest of the country. Similarly, in the Northeast, an independent company distributes Subaru vehicles and can influence pricing in that region.
To find invoice pricing on our website, please follow these steps:
Search for the Make/Model using our search bar on Edmunds
Once you land on the overview page, look for our "Build & price" link
Once you price out the vehicle on our website, you will see invoice pricing within the results graph, as shown below:
No, Edmunds TMV doesn't include taxes or fees since these can vary depending on what address the buyer registers the car at, what the dealership charges for the documentation fee, and additional taxes associated with the city and state where the car is purchased.
Edmunds does not provide pricing for vehicles modified with aftermarket parts. That's because such parts can vary widely in original cost and quality, and there is no reliable information as to how much value they add, if any, to a vehicle when it is resold. Also, some modifications may void the vehicle's original warranty.
It is likely that any customizations will actually reduce a vehicle's trade-in value because the dealer will choose to return the vehicle to its original stock condition before offering it for sale. You may find a better market for a modified vehicle by either selling it privately or returning the vehicle to stock condition and then selling it and the aftermarket parts separately.
True Market Value (TMV) pricing includes values for factory-installed options only. Dealer-installed options and accessories can vary widely in original cost and quality, so we have no reliable method to calculate how much value they add. We apologize for any inconvenience this may cause.
