Nanaimo’s #1 Remote Auto Appraisal Service!
At BC Auto Appraisals, our goal is to help Nanaimo residents make informed decisions about vehicle taxes. Starting from October 1st, 2022, British Columbia residents engaging in private transactions for pre-owned vehicles are now subject to Transfer Tax. This tax is solely determined by the Average Canadian Black Book Wholesale Value, which depends on the vehicle’s Year, Make, and Model.
However, it’s crucial to note that this valuation method doesn’t consider important factors like your vehicle’s physical condition, mechanical health, mileage, maintenance history, accident record, or other elements that significantly affect your vehicle’s true value. If your vehicle falls below the average standard in any of these aspects, our team of Licensed Appraisal Experts is prepared to conduct a comprehensive Professional Vehicle Appraisal.
We strongly believe that each used vehicle is unique and should be assessed for taxes based on its actual value, considering all relevant factors. The experts at BC Auto Appraisals are here to guide you through the process, ensuring a seamless and fair transaction.
Complete our Online Form to Get Started!
Valid for Up to 30 Days After Vehicle Purchase
You can either complete our online form or call us directly at:
Submit Required Vehicle Information
A representative will request all essential information and available records to accurately evaluate your vehicle remotely or in person. This will include photos and video for remote appraisals, which will assist in determining the vehicle's True Value.
A Licensed Appraisal Expert will thoroughly inspect and review all submitted evidence and documentation. A FIN-320 Appraisal Form will be completed by our Licensed Agents as required by ICBC.
Receive Your Report
Once finalized, you will receive the completed FIN-320 Appraisal Form to submit to your Local Insurance Broker or Government Agency.
Need Your Vehicle Appraised?
Understanding that the condition of your vehicle can lead to potential tax savings is important. Factors such as high mileage, mechanical issues, maintenance needs, body damage, past accidents, and more can actually reduce your tax liability when you have a Professional Vehicle Appraisal by BC Auto Appraisals’ licensed experts.
As you embark on your journey to purchase a vehicle, our team is here to support you in safeguarding your hard-earned money by helping you avoid unnecessary ICBC Vehicle Tax expenses.
And here’s the great part: if BC Auto Appraisals’ assessment value ends up being lower than ICBC’s Average Canadian Black Book valuation, you’ll only be taxed based on the higher of the two values – either BC Auto Appraisals’ assessment or the private Purchase Price of your vehicle. This approach ensures fairness and accuracy in your taxation, reflecting the true worth of your asset while optimizing your financial resources.
Example Vehicle Appraisal: 2012 Toyota Prius ex-Taxi (702,455 km)
ICBC Tax Calculation:
ICBC’s taxation system disregards the vehicle’s condition and mileage.
- Canadian Black Book Average Wholesale Value: $14,926
- 12% Tax: $1,791.12
BC Auto Appraisals Assessment:
Our expert assessment accounts for the vehicle’s unique condition and mileage.
- Appraisal Expert Assessed Value: $2,200
- 12% Tax: $264
Savings with BC Auto Appraisals Assessment: $1,527.12