Actual Cash Value, Average Appraisal Values Continue to Rise
The initial average appraisal value, calculated by combining data from all first- and third-party repairable vehicle appraisals uploaded through Mitchell systems, was $2,858 in Q4 2014, $4 higher than Q4 2013. The average cash value (ACV) of the vehicle was the highest of the charted values at $14,396 and the second oldest average age in recent years. Mitchell said this rising ACV trend could be an indicator of an uptick in total loss rates to come.
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