An Actual Cash Value (ACV) is the value of the car according to widely recognized independent sources such as the National Automobile Dealers Association or Kelley Blue Book. This value is important for insurance and loan-to-value computations.
In automobile leasing, residual value is how much your car is estimated to be worth at the end of your lease. The estimated value is used in calculating your monthly lease payments and purchase option price. A purchase option price ...