Richmond’s #1 Remote and In-Person Auto Appraisal Service!
At BC Auto Appraisals, we’re dedicated to assisting our customers in Richmond in making smart tax decisions when it comes to their vehicles. Beginning October 1st, 2022, residents of British Columbia who engage in private transactions for Pre-Owned Vehicles are now subject to Transfer Tax. This tax is calculated based solely on the Average Canadian Black Book Wholesale Value, which is determined exclusively by the vehicle’s Year, Make, and Model.
However, it’s crucial to understand that this valuation method doesn’t take into account essential factors like your vehicle’s physical condition, mechanical health, mileage, maintenance history, accident record, or any other factors that can significantly influence your vehicle’s true worth. In cases where your vehicle falls below the average standard in any of these aspects, rest assured that our team of Licensed Appraisal Experts is ready to conduct a thorough Professional Vehicle Appraisal.
We firmly believe that each used vehicle is unique and should be assessed for taxes based on its actual value, taking into consideration all relevant factors. Our experts at BC Auto Appraisals are here to guide you through the process, ensuring a smooth and equitable transaction 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.
Come Get Your Vehicle Appraised
Did you know that the condition of your vehicle could lead to potential tax savings? Factors like high mileage, mechanical issues, maintenance needs, body damage, past accidents, and more can actually lower your tax liability when your vehicle undergoes a Professional Vehicle Appraisal by BC Auto Appraisals’ licensed experts.
As you embark on your vehicle purchase journey, 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