Got screwed on a used car

[trandana]

Hey guys.
So I bought a used car thinking it was a sweet deal, long story short it wasn't and I paid a lot more for it than necessary. Anyway, here in BC we must pay taxes on used car sales so what I am wondering is when I register the car, will I have to pay the tax amount based on the sale price or the fair market price? Or what provinces would allow the blue book tax price to be paid? Would I be able to make a case that it's not worth that much if I got it appraised? I would hate to have to pay the full amount when the car isn't even worth that much!

Thanks!

[spikerS]

your best bet is to check with the registries office in BC.

This forum is based in AB, so the knowledge for the process in BC is pretty limited.

[firebane]

Originally posted by spikerS
your best bet is to check with the registries office in BC.

This forum is based in AB, so the knowledge for the process in BC is pretty limited.

No registries in BC but they have to pay taxes on what he paid for the car.

[ExtraSlow]

Call ICBC, I think they do the registries function that we have separate here.

[Kloubek]

It's all different in BC - that is true. But I know from experience, you pay the price paid, unfortunately.

[reiRei]

Yup to calling ICBC, you're likely going to have to pay taxes on what you paid NOT the fair market value

[JAYMEZ]

Pay the price you paid.

[revelations]

Yep, welcome to BC.... we used to declare vehicles for ~50$ in order to minimize GST on a used vehicle (that was paid for already by someone when it was new).

[killramos]

Originally posted by revelations
Yep, welcome to BC.... we used to declare vehicles for ~50$ in order to minimize GST on a used vehicle (that was paid for already by someone when it was new).

:werd:

Alot of trailers or boats sold for 5 bucks followed by a few grand of goodwill :rofl: , and i believe its only the PST. If GST was required we would have to do it in Alberta to.

OP how did you get screwed so bad? You must have known how much you were paying when you bought it? I mean you had to sign the cheque?

[lasimmon]

Originally posted by killramos


:werd:

Alot of trailers or boats sold for 5 bucks followed by a few grand of goodwill :rofl: , and i believe its only the PST. If GST was required we would have to do it in Alberta to.

OP how did you get screwed so bad? You must have known how much you were paying when you bought it? I mean you had to sign the cheque?

Probably reserached after the fact and saw they were selling for 5-10K less. Wouldn't be the first time I have seen it.

[mr2mike]

Lesson learned. Buy used car not from used car lot. Private sale saves the GST hassle.

[lasimmon]

Originally posted by mr2mike
Lesson learned. Buy used car not from used car lot. Private sale saves the GST hassle.

Gotta pay PST in BC on private sales IIRC.

[revelations]

Originally posted by killramos


:werd:

Alot of trailers or boats sold for 5 bucks followed by a few grand of goodwill :rofl: , and i believe its only the PST. If GST was required we would have to do it in Alberta to.



In BC, for whatever reason, they applied GST to PRIVATE sales. Its the most stupid cash grab ever.

When I moved here I was like "what, no tax on private sales?? isnt GST a federal tax?" Having gotten no answers I just chalked it up to living in low-tax AB

:D

(BC people pay up the ass in taxes)

[reiRei]

Originally posted by lasimmon


Gotta pay PST in BC on private sales IIRC.

Yup, it's one of many stupid cash grabs in our lovely province