Who is allowed to complete a FIN-320 in British Columbia?

The FIN 320 form states it must be completed by a motor dealer registered under the BC Motor Dealer Act, a person authorized to carry on a similar business in another jurisdiction, or "a person whose business it is to appraise motor vehicles." Bulletin PST 308 repeats the same requirement. IC Appraisal BC qualifies under the third category, and the appraiser signs the Part 5 certification on every form.

How does BC decide how much PST you pay on a private vehicle sale?

PST is charged on the greater of the purchase price or the average wholesale value, which Bulletin PST 308 defines as the Canadian Black Book value. If you believe the vehicle is worth less than that, you may provide a completed FIN 320. The bulletin then says that where the appraised value and the purchase price are both below the average wholesale value, PST is calculated on the greater of the appraised value and the purchase price.

What is the difference between a FIN-320 and a FIN-355MV?

The FIN 320 is the appraisal; the FIN 355/MV is the refund application. You present a FIN 320 when you register the vehicle to have PST charged on the appraised value in the first place. If PST has already been paid, the FIN 320 instead becomes an attachment to a FIN 355/MV refund claim, which the Ministry of Finance must receive within 30 days of the registration date.

Can the seller get the appraisal, or does it have to be the buyer?

Either. Bulletin PST 308 states that appraisals "may be obtained by the purchaser or seller of the motor vehicle." In practice the buyer usually orders it, because the buyer is the one paying the PST.

ICBC Write-Off vs Total Loss in BC: What the Difference Actually Means

Drivers use the words "write-off" and "total loss" interchangeably, but they mean different things. The difference shapes what happens to your vehicle, your settlement, and any salvage rights you may have. Here is the plain-English breakdown.

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Why buyers use this page

Total loss is the claim outcome; write-off, salvage, and non-repairable are title brands
The threshold formula compares repair cost to vehicle value (ACV)
ACV is what shapes your settlement, and ACV is the most common dispute lever
A FIN-320 appraisal documents real BC market value, which is what ACV should reflect

ICBC Write-Off vs Total Loss

When ICBC determines that repairing your vehicle costs more than a threshold percentage of its value, the file is processed as a total loss. The vehicle ends up with a branded title (write-off, salvage, or non-repairable) and ICBC issues a settlement based on Actual Cash Value (ACV). The threshold, the title brand, and the settlement number are all separate decisions, and each one creates its own dispute lever.

How ICBC reaches the total loss decision

The threshold formula is simple: if estimated repair cost is greater than a percentage of the vehicle value, the file becomes a total loss. ICBC does not publish that percentage. About 75% of ACV is the figure commonly used across the trade, and it should be treated as an industry rule of thumb rather than a published ICBC number, because ICBC has not confirmed one. The two inputs that matter are the repair estimate (built from a body shop assessment) and the ACV (built from generic data sources). When ACV is too low, the ratio crosses the threshold faster, and the file goes to total loss when repairs would have been viable at a fair value.

The three title brands

After total loss, your vehicle title is branded depending on the severity of the damage.

Write-off (rebuildable)

Damage is significant but the vehicle can be rebuilt and re-registered after a passing inspection. Rebuilt vehicles can return to BC roads with a branded title that affects future resale value.

Salvage

The vehicle is repairable but only as parts or non-roadworthy use. The title is branded salvage and the vehicle cannot be returned to BC roads.

Non-repairable

The vehicle cannot be returned to roads or used for parts that need a title. The title is branded non-repairable and the vehicle is destined for recycling.

Where the dispute lever is

You can dispute several inputs in the total loss process. ACV is the most common.

Repair cost estimate

You can request a second body shop opinion if you believe the repair estimate is inflated, which would push the ratio under the threshold.

Actual Cash Value

You can dispute ACV with a certified independent appraisal that documents the real BC market value of your specific vehicle, including condition, trim, mileage, and recent repairs.

Salvage retention

In some cases you can retain the salvage and rebuild it yourself, with ICBC paying the difference between ACV and salvage value.

How to use the appraisal in a total loss dispute

When you receive the ICBC offer, save it along with any repair estimate, photos, and history.

Order a certified FIN-320 appraisal that documents the real BC market value with comparable-sales evidence.

Use the appraisal to support a counter-offer, formal dispute, or salvage retention conversation with ICBC.

ICBC Write-Off vs Total Loss FAQ

Are write-off and total loss the same thing?

No. Total loss is the claim outcome (ICBC has decided not to repair). Write-off is one of the title brands that can follow. Salvage and non-repairable are the other two brands.

What is the ICBC total loss threshold?

It is the ratio of repair cost to vehicle value. ICBC does not publish the threshold it uses. About 75% of ACV is the figure commonly cited across the trade, but treat it as an industry rule of thumb rather than a published ICBC figure. What you can act on is the ACV itself, which is evidence based and can be documented.

Can I keep my vehicle if it is declared a write-off?

Sometimes. Salvage retention lets you keep the vehicle and rebuild it, with ICBC paying ACV minus salvage value. The vehicle will have a branded title for life.

How does an independent appraisal help?

It documents the real BC market value of your specific vehicle. Higher ACV pushes the ratio below the threshold (which can avoid total loss in some cases) or supports a higher settlement (which is the more common outcome).

How much does the appraisal cost?

IC Appraisal BC charges $75 flat plus tax. Most successful disputes recover settlement increases that are many multiples of that fee.

How long do I have to dispute?

There is no single statutory deadline that fits every case, but the practical window is short. Move as soon as you receive an offer that feels low or a total loss decision that feels premature.

Helpful next steps

Use these supporting pages to keep moving.

Get your Canadian Black Book value, free

Start a total loss appraisal

Total loss appraisal details

How ICBC calculates actual cash value

Why wholesale value is too low

How to dispute ICBC wholesale value

Key facts, sources and verification

Form: FIN 320, Motor Vehicle Appraisal Form
Governing legislation: Provincial Sales Tax Act (British Columbia)
Value reported: Expected retail value on a private sale. The form states the appraised value is not a trade in figure.
What the value rests on: The specific vehicle: odometer, damage, mechanical condition, whether it runs, and its documented history. Not a lookup from the VIN alone.
Who may complete it: A registered motor dealer, an equivalent business in another jurisdiction, or a person whose business it is to appraise motor vehicles
Area served: All of British Columbia, handled remotely
Provider: IC Appraisal BC
Standard fee: $75 plus tax for an accepted standard remote FIN 320 file
What this is: Independent value evidence for a first party settlement discussion on your own vehicle. The appraiser reports value; whether an offer moves is decided by the insurer.
Two different values: Actual cash value is what an insurer offers to settle. Appraised value on a FIN 320 is the expected retail value on a private sale, used for tax. They answer different questions.

Quick answers

Who is allowed to complete a FIN-320 in British Columbia?: The FIN 320 form states it must be completed by a motor dealer registered under the BC Motor Dealer Act, a person authorized to carry on a similar business in another jurisdiction, or "a person whose business it is to appraise motor vehicles." Bulletin PST 308 repeats the same requirement. IC Appraisal BC qualifies under the third category, and the appraiser signs the Part 5 certification on every form.
How does BC decide how much PST you pay on a private vehicle sale?: PST is charged on the greater of the purchase price or the average wholesale value, which Bulletin PST 308 defines as the Canadian Black Book value. If you believe the vehicle is worth less than that, you may provide a completed FIN 320. The bulletin then says that where the appraised value and the purchase price are both below the average wholesale value, PST is calculated on the greater of the appraised value and the purchase price.
What value does a FIN-320 actually report?: Retail value, not a trade in figure. The form itself carries the note that the appraised value "is NOT intended to be trade-in value but represents the expected retail value when a motor vehicle is sold privately." This is the single most common misunderstanding, and quoting a trade-in figure on a FIN 320 is a defect in the form.
What is the difference between a FIN-320 and a FIN-355MV?: The FIN 320 is the appraisal; the FIN 355/MV is the refund application. You present a FIN 320 when you register the vehicle to have PST charged on the appraised value in the first place. If PST has already been paid, the FIN 320 instead becomes an attachment to a FIN 355/MV refund claim, which the Ministry of Finance must receive within 30 days of the registration date.
Can the seller get the appraisal, or does it have to be the buyer?: Either. Bulletin PST 308 states that appraisals "may be obtained by the purchaser or seller of the motor vehicle." In practice the buyer usually orders it, because the buyer is the one paying the PST.

Sources

The statements above are drawn from the following primary documents. Each was checked against the source on the verification date below.

Canadian Black Book returns one number from the VIN. It does not account for kilometres, damage, mechanical condition, or whether the vehicle runs at all. A FIN 320 appraisal is built on those things, which is why it produces a figure the Ministry of Finance accepts. The form itself states the appraised value “is NOT intended to be trade-in value but represents the expected retail value when a motor vehicle is sold privately”.

Verified against the source documents on 1 September 2026.

This page is general information about British Columbia vehicle appraisal and PST, not legal or tax advice. PST is assessed by the BC Ministry of Finance and registration is handled by ICBC and Autoplan brokers, so the amount of tax owing or refunded on any particular vehicle is determined by them, not by the appraiser. Figures quoted from government publications were verified against the source documents on the date shown.

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