Actual Cash Value (ACV)
Actual cash value is the amount equal to the replacement cost minus depreciation of a damaged or stolen property at the time of the loss. it is the actual value for which the property could be sold, which is always less than what it would cost to replace it.
Price Digests uses condition terms to signify physical wear and damage to vehicles and equipment. Valuations default to a Good condition unless manually adjusted by a user. These conditions can vary the value significantly. The five condition levels available in the Price Digests application are: Excellent (Adds 10-15%): New Condition with no evidence of wear. […]
A machine with moving parts that converts power into motion. Size stated in liters. Further engine characteristics are identified using the following characters. Code Description T Turbo D Diesel R Rotary S Supercharged F Flex Fuel C Compressed Natural Gas H Hybrid Examples Last Number Number of Cylinders 2.0-4 2.0 liter displacement, 4 cylinder engine. […]
Federal Excise Tax (FET)
A federal or state imposed on the manufacture and distribution of certain non-essential consumer goods.
High Trade-in or High Wholesale Value
High range for what a dealer would pay for a good clean unit when accepting a trade towards a unit of greater value.
Low Trade-in or Low Wholesale Value
Generally what a consumer or dealer would pay for a unit that is worn and faded and will need cosmetic and mechanical reconditioning. One can always dispose of a unit at that price level providing it is in good clean condition.
Manufacturer’s suggested retail price for assembled vehicle/vessel (no kits) with standard equipment. For boats, this price includes basic working sails unless otherwise noted.
A user-defined value that adds value over the current retail value, such as an advertised selling price.
A guide to the probable amount a standard “as advertised” model will bring on the open market. Sold as a single unit by a dealer usually engaged in the truck business to a purchaser willing and able to buy, assuming the sale is an “arm’s length” transaction and neither party is under duress to buy […]
A user-defined value that deducts value from retail at the time of trade-in before reconditioning and/or repairs, or any necessary activity to present a truck for retail resell.
A probable amount a vehicle would bring without the retail dealer markup of a unit as is and where is.
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