Retail value: This is the price a dealer would sell your car for. The age, mileage and condition of your car are considered when calculating this amount.
Trade value: This is the amount you’d get from a dealer, if you were to trade your car in for another 1.
Market value: This is the price you’d be able to sell your car for, if you choose to sell it privately. To ensure a fair market value, the price is usually based on the difference between the retail and trade value.