Port Moody's #1 Remote and In-Person Auto Appraisal Service!
As of October 1st, 2022, a significant change has been implemented in British Columbia, affecting individuals engaged in private Pre-Owned Vehicle transactions. This change mandates the payment of Transfer Tax, exclusively determined by the Average Canadian Black Book Wholesale Value, taking into account only the Year, Make, and Model of the vehicle.
It’s imperative to acknowledge that this valuation approach fails to consider pivotal factors that substantially contribute to your vehicle’s genuine worth. These factors encompass its physical condition, mechanical status, mileage, maintenance history, accident record, and various other variables. If your vehicle happens to fall below the average standard in any of these aspects, rest assured that our team of Licensed Appraisal Experts is primed to conduct a comprehensive Professional Vehicle Appraisal.
We steadfastly uphold the belief that each used vehicle boasts its own unique characteristics and attributes. Consequently, we ardently advocate for a tax assessment procedure that accurately reflects its authentic value, encompassing all pertinent factors. Our seasoned experts at BC Auto Appraisals are resolutely committed to delivering expert guidance, ensuring a transaction process that is both seamless and equitable for you, whether you reside in Port Moody or elsewhere in British Columbia.
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 a Vehicle Appraisal?
The prospect of realizing tax savings comes into focus when assessing your vehicle’s condition. In cases where it falls below the standard due to factors such as excessive mileage, mechanical challenges, maintenance needs, body damage, accident history, and more, there emerges an opportunity to alleviate your tax burden through a Professional Vehicle Appraisal. Here at BC Auto Appraisals, our licensed experts stand ready to provide comprehensive support throughout your vehicle acquisition journey, ensuring the prudent management of your hard-earned resources 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, rest assured 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 guarantees a fair and accurate taxation process that reflects the genuine worth of your asset, providing you with financial prudence and peace of mind.
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