What does vehicle salvage value mean?

[McCamila]

Salvage value refers to the remaining worth of a car when it can no longer be used after being involved in a traffic accident. Below is relevant information: 1. Introduction to used car residual value rate: When buying or selling a used car, it's essential to understand a crucial indicator—the used car residual value rate. Simply put, this rate reflects the vehicle's depreciation over time. It indicates how much a car is worth in the market after several years of use. The higher the residual value rate, the more valuable the used car. To determine a car's residual value rate, several factors must be considered, such as the vehicle's market circulation, whether its color is mainstream, the brand of the vehicle, and the convenience of post-purchase maintenance. 2. Precautions for selling a used car: It's important to sell the vehicle before its insurance expires; otherwise, additional insurance costs will be incurred during the transaction. Additionally, pay attention to the replacement cycle of spare parts.