When purchasing a vehicle in British Columbia, it’s essential to consider the provincial sales tax (PST) that applies to private sales. The PST is calculated based on the purchase price or the Canadian Black Book average wholesale value, whichever is greater.
However, relying solely on the Canadian Black Book valuation may not accurately reflect the true value of a vehicle, especially when it has defects like damage, rust, high mileage, or mechanical issues.
This article will explore the benefits of professional vehicle appraisals in BC, helping you save on taxes while obtaining an accurate assessment of your vehicle’s value.