The reclamation appraisal of a van is a relatively subjective figure.
Save vehicles gain survived an accident, a theft or a flood and posses been issued a "complete loss" certificate by an insurance partnership thanks to the price to repair the damage exceeds a sure percentage of the vehicle's fee. The percentage varies from polity to country, as does the cant. Some states show a recovery status on a van's designation with the term "total loss" instead of "salvage"; others use such terms as "rebuilt/restored" or "flood loss." Regardless, salvage vehicles can be purchased for much less than other types of used cars because salvage value is how much a car is worth behind of its useful life. Multiply the vehicle's current market value (from Step 3) by this percentage to receive an estimated salvage value.
Look up the vehicle's retail value at Kelley Blue Book's website (see Resources).
2. Determine the vehicle's wholesale price or trade-in value by looking it up through National Automobile Dealers Association (see Resources).
3. Total the two figures and divide the result by 2 to receive the car's current market value.
4. Determine the percentage used by the insurance company that deemed the vehicle a "salvage vehicle." This is often 75 percent of the market value, but each insurance company determines the percentage it uses.
5. It is a relatively subjective figure, ultimately determined by the company insuring the salvage vehicle, but you can calculate an estimate.
