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Ontario Used Car Appraisal Form

Ontario Used Car Appraisal Form

Use the Motor Vehicle Valuation Record form to determine the fair value of a used vehicle for tax purposes at a private sale. Make sure you have a registered car dealer or appraiser filling out the form. If a vehicle is 20 years of age or older, Service Ontario (MTO) will require a letter of assessment to transfer ownership. An assessment letter is required because Service Ontario (MTO) does not know what the market or wholesale value (book value) of the vehicle is due to its age. Our appraisal service includes an on-site vehicle inspection (we`ll get to you) that assesses mileage, body condition, mechanical issues and anything else that reduces the value of your vehicle, which can reduce the tax paid by the buyer to MTO for the vehicle transaction. You can only dispute the Red Book score with an appraiser`s score if you register your vehicle and the appraiser`s assessment is completed within 2 months of the purchase or registration of the vehicle. Tell us about your experience with this content. Appraisers can be car dealers or recognized appraisers registered by the Provincial Tax Board. Ask a professional and licensed vehicle appraiser to come to your location. .

2022-03-20T02:20:26+00:00