CAMBRIDGE, Mass. -

CarGurus joined a crowded fray Monday by launching a free online vehicle listings tool that combines a price-guide element into the solution.

Site executives explained its vehicle listing tool includes “Live Market Value” pricing guidance. Based on the analysis of more than 2 million active vehicle listings, CarGurus contends “Live Market Value” can take into account numerous factors such as manufacturer, model, year, trim, mileage, options and location.

Officials believe their tool can deliver an accurate, up-to-date valuation for consumers looking to sell a vehicle online.

Unlike what the site described as “opaque pricing tools,” CarGurus said its “Live Market Value” can provide complete transparency as to the value of a seller’s car. Site officials pointed out sellers are shown the four most relevant comparable listings that justify the suggested pricing as well as a graph that plots all the price points analyzed to derive the suggested pricing.

CarGurus went on to mention consumers also can get additional feedback on the relative merits of their chosen price.

As the seller enters different price points for their vehicle, they can obtain instant feedback on whether their chosen price is a “good deal” or “bad deal” for buyers and where their listing will rank versus other listings in their area.

CarGurus concedes the Web offers numerous free vehicle listings services. However, the site believes it is the first one to integrate free pricing tools in the listings process to help sellers properly value their vehicles.

“Sellers not only get a free vehicle listing on a dedicated automotive site with more than 3 million unique visitors a month but also free advice on pricing,” CarGurus declared.

Langley Steinert, chief executive officer and founder of CarGurus, elaborated about the value of this new tool.

“While free listing sites like Craigslist exist, they are not automotive-focused and don’t provide consumers with any pricing guidance,” Steinert emphasized.

“Pricing a car properly will maximize anyone’s chances of selling the car as well as the seller’s eventual realized profits,” Steinert went on to say. “With CarGurus free listings service, we are bringing full transparency to the process of listing and pricing a car.”

Users can begin the process by going to http://www.cargurus.com/Cars/sell-car to plug in their ZIP code and fill in information about their vehicle.