Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

100 Point or #1

A “100 Point” or “# 1” vehicle is not driven. It would generally be in a museum or transported in an enclosed trailer to concours judging and car shows. This type of car would be stored in a climate regulated facility.

A

AutoCheck

AutoCheck is a vehicle history report service of Experian Corp. AutoCheck can only report on vehicles that use a 17 character VIN. Therefore, information on vehicles manufactured before 1981 is limited. AutoCheck also has a very unique feature — its patented AutoCheck Score™ — which allows you to help assess a vehicle’s predicted reliability and compare it to similar cars in its class.

Average Auction Value

Average Auction Value refers to the Weekly Auction Value product and is the midpoint of the mileage-adjusted auction data collected. This value fluctuates on a weekly basis due to recent auction price activity.

Average Trade-In Value

Average Trade-In Value refers to the midpoint of the mileage-adjusted wholesale data collected (note that this includes auction, manufacturer, and upstream data). This value is intended to represent the middle of the wholesale market, is adjusted once per month, and is subject to deeper analysis by the Vehicle Analysis staff than the Auction values. It will vary up and down with real wholesale market value changes. However we actively work to reduce unnecessary volatility in this number.

B

Base Value

The base value refers to either the Trade-in (Rough, Average, Clean), Clean Loan or Clean Retail value published next to the body type description. Users should make any mileage and/or optional equipment adjustments to this value.

Body style

Body style refers to the shape and model of an automobile make. Passenger-car body styles generally include two-door coupes, four-door sedans, hatchbacks, station wagons, sports cars, minivans, sport utility vehicles and convertibles. Truck cab body styles include regular cab, extended cab and four-door crew cabs.

Body Type

The popular name for the bodystyle and trim.

C

Certified Pre-Owned Vehicles

The Guidebooks and derivative electronic products include values for OEM Certified Pre-Owned (CPO) vehicles and determines the value of certification based on several key factors including vehicle age, certification program requirements, and depreciation rates for eligible vehicles. The CPO value is included in the Optional Equipment listings and will apply to Retail values only. Due to the wide variation of non-OEM extended warranties, there is no attempt to adjust for extended warranties outside of the OEM Certified Pre-Owned programs.

Clean Loan

The suggested amount of credit that may be obtained on a vehicle based on the Clean Trade-In value. Providers of vehicle financing determine the amount of credit they are willing to extend on a vehicle.

Clean Retail

The estimated Clean Retail value for a vehicle in clean condition and mileage falling within the assumed mileage range.

Condition Categories

There are a number of cosmetic, mechanical and maintenance factors that go into determining the condition of a used vehicle. These are the major factors analysts believe distinguish a vehicle’s condition in these categories: Clean - No mechanical defects and passes all necessary inspections with ease; paint, body and wheels may have minor surface scratching with a high gloss finish; interior reflects minimal soiling and wear, with all equipment in complete working order; vehicle has a clean title history; vehicle will need minimal reconditioning to be made ready for resale. Average - Mechanically sound but may require some repairs or servicing to pass all necessary inspections; paint, body and wheel surfaces have moderate imperfections and an average finish which can be improved with restorative repair; interior reflects some soiling and wear in relation to vehicle age, with all equipment operable or requiring minimal effort to make operable; clean title history; vehicle will need a fair degree of reconditioning to be made ready for resale. Rough - Significant mechanical defects requiring repairs in order to restore reasonable running condition; paint, body and wheel surfaces have considerable damage to their finish, which may include dull, faded or oxidized paint, small to medium size dents, frame damage, rust, or obvious signs of previous repairs; interior reflects above average wear, with inoperable equipment, damaged or missing trim, and heavily soiled or permanent imperfections on the headliner, carpet, and upholstery; may have a branded title; vehicle will need substantial reconditioning and repair to be made ready for resale; some existing damage may be difficult to restore.

G

Grey Market Cars

An unknown number of “Grey Market” vehicles enter the marketplace each year. “Grey Market” is a term often used to describe a vehicle that was not manufactured for sale or trade in the United States or enters the United States via channels other than factory authorized dealers. Many “Grey Market” vehicles may not fully meet U.S. federal standards. This classification might result in a substantial lessening of the vehicle’s market value. The Guidebooks and derivative electronic products make no attempt to value “Grey Market” vehicles.

GVWR

The Gross Vehicle Weight Rating is shown in the Specification section of the NADA Official Used Car Guide (online only). Where there is an overlap in GVWR range, consult vehicle’s title or dealer, as it is impractical to list all GVWR’s under all wheelbases.

M

Mileage

Mileage is an important factor in determining the value of a used vehicle. The effect of mileage will vary according to the class and age of the vehicle. Mileage adjustments should be made in conjunction with adjustments for vehicle condition. Suggested mileage adjustments are listed in the Mileage Table in the Guidebook, with mileage assumptions represented by the shaded portion under each model year. The mileage assumptions are based on the expected mileage for a vehicle given its age. If a vehicle’s actual mileage falls outside of the shaded mileage range, then an adjustment should be made to the Guidebook value. In electronic products, the mileage adjustment is made automatically based on the mileage entered.

Mileage Class

Mileage class is determined by analysts based on a combination of factors including, but not limited to, a vehicle’s MSRP, market segment and the observed impact high or low mileage has on the vehicle’s used value. The Guidebooks list five mileage classes and is indicated on the body series line: 2014 7 SERIES Mileage Class: V

Model Number

A portion of the Vehicle Identification Number (VIN) that identifies model.

Model Year Indicator

The tenth position in the Vehicle Identification Number (VIN) is a code indicating the model year. 9=2009, A=2010, B=2011, C=2012, D=2013, E=2014, F=2015, G=2016, H=2017

MSRP

The base Manufacturers Suggested Retail Price at the time of introduction. Includes standard equipment only and excludes taxes, transportation and destination. M.S.R.P.’s shown are for the minimum wheelbase except where otherwise noted.

N

New Vehicle Values

New Vehicle Values are intended to reflect the actual transaction price of vehicles in the new/first sales transaction market prior to the addition of any consumer incentives or rebates. New Vehicle Values are provided as a range because factors that include (but are not limited to) local demand, dealer incentive programs, or credit availability inherently cause price variations in the new market.

Non-OEM Optional Equipment

Only the more popular OEM optional equipment that analysts believe retains value in the secondary market is listed in the Guide. As such, this Guide makes little attempt at addressing non-OEM optional equipment. However, exclusion does not mean that only OEM-sourced optional equipment should be considered when arriving at a valuation. Users of this Guide, and its derivative products, may have to make independent adjustments for non-OEM equipment.

O

Optional Equipment - Light-Duty Trucks

The most popular optional equipment is listed with each series of lightduty truck. Additional optional equipment can be found in table form in the commercial truck section. Light-duty truck trim packages include most standard factory equipment. Exceptions to this will occur in situations where there is not consistency with regard to equipment in a given trim package across an entire vehicle series. In these cases, users will be instructed to add for the additional options.

Optional Equipment - Used Cars

Vehicle options are listed after the vehicles in two columns in the Guidebooks. In certain cases, a group of vehicles share a set of optional equipment listings. Where this occurs, a note line will appear above the optional equipment listings highlighting all applicable vehicles. The optional equipment listed beneath these note lines applies to ALL vehicles within the specified group. The derived electronic products will list the options associated with the specific vehicle being valued.

Original Window Sticker

The Original Window Sticker, generated from your VIN, provides a description of the features and price of the vehicle when it was new.

P

Price to Market

"Price to Market" appears in the Competitive Vehicles section of J.D. Power MarketValues. It is calculated using the average price of all returned competitive vehicles. So, if there are 10 competitive vehicles, and the average price of them is $10,000, a 50% price to market would be $5,000.

V

Vehicle Condition - Retail

The Clean Retail values contained within the Guidebooks are meant to reflect a vehicle in clean condition, with mileage falling within the shaded mileage range (see Mileage Table). Because individual vehicle condition varies greatly, users of this Guide and its derivative products may need to make independent adjustments for actual vehicle condition.

Vehicle Condition - Trade-In

The Trade-In values contained within the Guidebooks are meant to reflect a vehicle that is in rough, average, or clean condition; with mileage falling within the shaded mileage range (see Mileage Table). Because individual vehicle condition varies greatly, users of this Guide and its derivative electronic products may need to make independent adjustments for actual vehicle condition.

VIN

Under regulations administered by NHTSA, a vehicle identification number or VIN is “a series of Arabic numbers and Roman letters that is assigned to a motor vehicle for identification purposes.” Among other things, NHTSA’s regulations at 49 CFR Part 565 require a motor vehicle manufacturer to assign to each motor vehicle manufactured for sale in the United States a 17-character VIN that uniquely identifies the vehicle. The VIN must be correctly formatted and include a check digit in Position 9 that is mathematically correct under a formula that is included in the regulation. VINS are required to have 17 characters that do not include the letters I, O, or Q. Beginning with the 1980 model year, the VINs of any two vehicles manufactured within a 60-year period must not be identical. All spaces provided for in the VIN must be occupied by a character specified in Part 565 and the type face used for each VIN must be in capitals and use san serif characters. (Source: http://www.nhtsa.gov)

W

Weight

Vehicle curb weight as published by the manufacturer. Weights shown are for the minimum wheelbase except where otherwise noted.

Work Truck Package

Certain manufacturers offer an optional Work Truck Package on full-size, and to a lesser extent compact, pickup trucks. Work truck package names and acronyms, which include “W/T”, “WS”, “Special”, etc., will vary by manufacturer. For the purposes of our vehicle valuation products, we have chosen to apply generic “Work Truck Pkg.” terminology to these packages, regardless of the name or acronym given by the manufacturer. Vehicles outfitted with a given work truck package tend to be similar in look and equipment, which generally consists of a grey colored grille/front fascia, grey bumpers, grey steel wheels, vinyl bench seating surfaces, and may lack certain optional equipment.