487.730 - “Fair market value” defined. - Nevada Statutes

487.730  “Fair market value” defined.  “Fair market value” means the retail value of a motor vehicle that is established by:

      1.  An objective motor vehicle appraisal based upon local market resources, including, without limitation, automobile dealers and classified advertisements of newspapers;

      2.  An independent appraisal service;

      3.  A current issue of a nationally recognized guide used by financial institutions in this State for the valuation of used motor vehicles; or

      4.  A computer-based service commonly used by the insurance industry for the valuation of used motor vehicles.

      (Added to NRS by 2003, 1909)