Market Value
The estimated price at which a vehicle would sell in the current market, derived from comparable sales data.
Definition
The estimated price at which a vehicle would sell in the current market, derived from comparable sales data.
Related Terms
Actual Cash Value (ACV)
The fair market value of a vehicle before the loss occurred, used by insurance companies to determine total loss thresholds and payouts.
Comps (Comparables)
Similar vehicles currently listed or recently sold that are used to estimate a vehicle's market value. Quality comps match on year, make, model, trim, mileage, and location.
Retail
The price at which vehicles are sold to end consumers, either at dealerships or through private sales. Retail prices include dealer markup and reconditioning costs.
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