Last updated 2025-10-30

Actual cash value

The actual cash value (ACV) is the fair market retail value of a vehicle on the date of loss (DOL).

When a vehicle is a possible or obvious total loss, and the ACV needs to be determined, an estimator runs the Mitchell Total Loss Valuation Report with selected options, trim level, kilometers, and condition ratings, as reflected from the information available.

There may be factors that can contribute to the ACV differing from the fair market value, including:
  • market fluctuations
  • economic climate
  • regional differences such as Eastern Canada versus Western Canada
  • maintenance history.
  • vehicle condition, and
  • availability of a comparable vehicle.

Requirements for customer presentation

An estimator must present the ACV to the registered owner (RO) within five working days from the date the vehicle is declared a total loss.

Parent topic: Actual cash value policy