Mileage matters. But ICBC's Black Book values often gloss over just how much it matters.
If your car has over 250,000 km, you are being overtaxed if you pay the average value. Here are the 5 things we look for in a High Mileage Appraisal:
1. Engine Wear
High kms mean tired seals, potential oil leaks, and reduced compression. Even if it runs "fine," it is worth less.
2. Suspension Fatigue
Struts, ball joints, and bushings wear out. A car needing a $1,500 suspension overhaul is worth $1,500 less.
3. Interior Condition
The driver's seat bolster, the steering wheel, the pedal wear—these are telltale signs of high use that lower resale value.
4. Transmission Risk
Automatic transmissions are ticking time bombs after 250k km. The market discounts these cars heavily.
5. The "Psychological Barrier"
It is hard to sell a car with 300k km. The market value plummets because the pool of buyers shrinks. We reflect this reality in our appraisal.
Get Credit for the Kilometers
Don't let the government treat your 300,000 km workhorse like a 100,000 km creampuff.
