Salvage value refers to the monetary worth of an asset at the end of its useful life, or what it could potentially be sold for as scrap or replacement parts. Some synonyms for salvage value include residual value, scrap value, reclamation value, and secondary value. Residual value refers to the estimated value of an asset at the end of its lease term, while scrap value is the amount of money that can be obtained by selling an asset as scrap metal. Reclamation value refers to the value of materials that can be reclaimed from a product, and secondary value refers to the secondary use or value of an asset.