Vehicle History Report

Recalls:

The vehicle`s manufacturer, or NHTSA (National Highway Traffic Safety Administration) has determined that the vehicle has a safety or other defect that can affect the vehicle`s safety or driveability. Recalls can be repaired at no cost at a manufacturer`s franchise dealership.

Title:

Official state DMV document that indentifies the vehicle, any lienholder and owner. Rules governing issuance are specific to each state.

Junk or Salvage event (from NMVTIS):

Vehicle was seen at a junk yard, wrecker, dismantler or crusher, or seen at a salvage yard or salvage auction. These vehicles can range from inoperable to fully driveable with little or no actual damage.

Odometer Reading:

Distance (in miles or kilometers) that the vehicle has traveled. Over time, the mileage reported should increase. Many vehicles are driven 10,000-15,000 miles a year; others more or less.

Warranty:

Manufacturer`s guarantee or promise to repair or replace defects, usually within a certain time or mileage.

Event Date or Date Applied:

Date the event was reported to have occurred.

Adjusted Prices (MMR):

Information about the valuation pricing adjusted by various factors.

Wholesale Prices (MMR):

Information about the valuation of the vehicle at the auction.

Retail Prices (MMR):

Information about the expected value of the vehicle in the consumer market.

Above Average (MMR):

One standard deviation above the average valuation.

Average (MMR):

Average valuation of the vehicle.

Below Average (MMR):

One standard deviation below the average valuation.

Historical Prices (MMR):

Information about average odometer readings and price values for past periods.

Forecast Prices (MMR):

Information about the predicted MMR for the vehicle.

Average odometer (MMR):

Average odometer reading for the vehicles used in the valuation calculation.

Average Grade (MMR):

Average vehicle condition grade of the valuation. Grades are between 1.0 (poor) to 5.0 (excellent).

Sample Size (MMR):

Total number of transactions supporting the base MMR.

Wholesale Value (Black Book):

The price a dealer would pay at a wholesale dealer-only auction, or the price that a dealer would independently sell a car to another dealer.

Retail Value (Black Book):

The listing price a dealer would ask for a vehicle available for sale, determined by compiling dealer asking prices.

Vehicle Value:

Monetary vehicle values as calculated by third party companies.

Trade-in Value (Black Book):

The price a dealer would offer a consumer for their vehicle to apply toward the purchase of another car in the dealer’s inventory.

Private Party Value (Black Book):

The price you could expect for a vehicle sales transaction between two consumers. Depending on demand and condition, this transaction value will below the retail value. Private Party transactions are typically less than dealer sales because they do not provide the buyer any financing options, warranty, nor any recourse, should there be any problems with the vehicle. All sales are usually considered final and as is.

Clean Condition (Black Book):

Very little interior or exterior wear. The vehicle is 100% mechanically sound. Any paint repair is almost unnoticeable. The vehicle should be accompanied by a clean history report. All tires should fully match and have good to excellent tread. There should be fewer than average miles for the model year.

Average Condition (Black Book):

The vehicle is solid with substantial serviceable life remaining, but normal interior and exterior wear is allowable. Any previous paint repair must only be apparent to the trained eye. There could be minor mechanical, or maintenance work required. Tires should be in average condition or better and there should be typical miles for the model year.

Rough Condition (Black Book):

The interior and exterior will show more than normal and expected wear and tear. The vehicle could have excessive miles for the model year and may be approaching the end of its serviceable life. The vehicle could have had previous body damage with possible sub-par repairs. There could be cracked glass. The interior could be torn, stained and have adverse odors. There could be physical or mechanical repairs needed. Tires could be worn and/or mismatched. A negative vehicle history with title brand like salvage, frame damage or mileage discrepancy would push the condition to below Rough condition.

Extra Clean Condition (Black Book):

Appears like new for the model year with very low miles and no visible signs of physical wear. The vehicle history report should have no reported issues or questionable notations. All parts are original and in place. The interior should smell fresh and there should be no tears or stains. It should be mechanically correct with all fluids clean and changed according to the prescribed maintenance schedule. Tires should be like new and completely matching, including the spare.

History Adjustments (Black Book):

History-Adjusted Valuations (HAV), developed by Black Book, is a process that uses information reported to Black Book to determine the impact of a vehicle's history on its value in a precise and objective manner. Traditionally, when valuing a vehicle, professionals would rely on subjective assessments based on the vehicle's history report, which often led to mistakes in valuation. To address this issue, Black Book leverages advanced analytics and deep editorial expertise to provide insight into how a vehicle's historical events affect its value. History events as provided or not provided in this report could be reflected in the valuations. Not all history events are included in any adjustment or non-adjustment in values.