The term in question refers to a specific valuation assigned to pre-owned vehicles. This valuation, provided by Vehicle Market Research (VMR), serves as a benchmark for assessing the worth of a used car. An example scenario involves a prospective buyer referencing the reported figure to negotiate a fair price with a seller, ensuring both parties have a reasonable expectation of the automobile’s monetary value.
Accurate vehicle valuation offers several key advantages. It provides transparency in the marketplace, empowering consumers with the data needed to make informed decisions. Furthermore, it contributes to a more efficient market by reducing information asymmetry between buyers and sellers. Historically, access to reliable valuation data was limited, often leading to inequitable transactions. The advent of standardized valuation sources, such as the one under discussion, has played a significant role in mitigating this issue.