Port Coquitlam's #1 Remote and In-Person Auto Appraisal Service!
Commencing on October 1st, 2022, a notable change has come into effect for individuals in British Columbia engaging in private Pre-Owned Vehicle transactions. It entails the payment of Transfer Tax, solely determined by the Average Canadian Black Book Wholesale Value, contingent upon the Year, Make, and Model of the vehicle in question.
However, it is essential to recognize that this valuation methodology does not take into account pivotal factors that significantly contribute to your vehicle’s actual worth, including its physical condition, mechanical state, mileage, maintenance history, accident record, and various other variables. Should your vehicle fall below the average standard in any of these aspects, rest assured that our team of Licensed Appraisal Experts stands ready to conduct a comprehensive Professional Vehicle Appraisal.
We firmly uphold the belief that each used vehicle is uniquely distinct, and, as such, we ardently advocate for a tax assessment process that accurately reflects its authentic value, encompassing all pertinent factors. Our seasoned experts at BC Auto Appraisals are dedicated to providing expert guidance, thereby ensuring a seamless and equitable transaction experience for you.
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.
The advent of potential tax savings comes into view when considering the condition of your vehicle. If it falls below the standard due to issues like excessive mileage, mechanical challenges, maintenance needs, body damage, accident history, and more, there’s an opportunity to alleviate your tax burden through a Professional Vehicle Appraisal. At BC Auto Appraisals, our licensed experts stand by to guide you through the vehicle acquisition process, ensuring the preservation of your hard-earned funds by circumventing unnecessary ICBC Vehicle Tax expenses.
Moreover, in the event that BC Auto Appraisals’ assessed value proves to be less than ICBC’s Average Canadian Black Book appraisal, you can take solace in the fact that your tax obligation will be determined by 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.
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