Definition of salvage value in English English dictionary
1 The cost recovered or which could be recovered from a used property when removed, sold, or scrapped A factor in appraisal of property value and in computing depreciation 2 The market value of a machine or facility at any point in time Normally, an estimate of an asset's net market value at the end of its estimated life
The minimum value for a depreciable asset After sufficient depreciation equals salvage value, no more depreciation may be taken Not the same as residual value
The value on which salvage is awarded It generally means the value of ship and cargo when they have been brought to a place of safety by the salvors
The amount a salvage yard will pay for your damaged vehicle This amount is used to determine whether your vehicle is 'totalled' or not (See total loss, below )
A title designation used when an insurance company purchases a vehicle that has been severely damaged (totaled), and then resells the vehicle Each state has different regulations on the sale of salvaged vehicles
The amount that an asset is expected to be worth at the end of its productive life Also called scrap value, trade-in value, and residual value
The amount your vehicle is worth after an accident It is more specifically the amount a salvage company will pay for your vehicle after an accident
The minimum value for a depreciable asset After sufficient depreciation is taken such that cost less accumulated depreciation equals salvage value, no more depreciation may be taken Not the same as residual value
The estimated value that will be realized upon the sale or other disposition of an asset at the end of its useful life
The value of a capital asset at end of a specified period It is the current market price of an asset being considered for replacement in capital budgeting
The estimated or actual residual value of items no longer able to be used for their original purpose, or at the end of their useful life
salvage value
Hyphenation
sal·vage val·ue
Turkish pronunciation
sälvıc välyu
Pronunciation
/ˈsalvəʤ ˈvalyo͞o/ /ˈsælvəʤ ˈvæljuː/
Etymology
[ 'sal-vij ] (noun.) 1645. French, from Middle French, from salver to save; more at SAVE.