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.

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.

Used Car Tax in BC: How Much PST You Pay (and How to Avoid Overpaying)

BC private-sale buyers pay 12% PST on the greater of the purchase price or the Canadian Black Book wholesale value. For high-mileage, damaged, or below-average condition vehicles, that rule can push the tax bill thousands above what the buyer actually paid. Here is how the rule works and what to do about it.

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Why buyers use this page

Private sale, passenger vehicle: 12% PST up to $124,999.99, then 15%, then 20% at $150,000
Purchase from a GST registrant: 5% GST plus PST starting at 7%, rising through 8%, 9% and 10% above $55,000
Family transfers between qualifying relationships are usually tax-exempt
Out-of-province imports follow a separate workflow with inspection plus PST plus GST

Used Car Tax in BC

BC charges PST on used vehicle sales. For a private sale of a passenger vehicle, Bulletin PST 308 Table 1 sets the rate at 12% up to $124,999.99, 15% from $125,000 to $149,999.99, and 20% at $150,000 and over. Non passenger vehicles, which include most commercial trucks and vans, are 12% at every price. Purchases from a GST registrant follow a different scale. The complication is that since the 2022 PST change, PST is charged on the greater of the price you paid or the Canadian Black Book average wholesale value, which means buyers of vehicles in below average condition pay tax on value they never paid for.

The Black Book gotcha

The 2022 BC PST change introduced a rule that hits below-average buyers hardest. Before 2022, buyers paid PST on what they actually paid. After 2022, they pay PST on the greater of the purchase price or the Canadian Black Book wholesale value. CBC News, on 25 November 2022, reported two BC buyers in this position: one taxed on an $11,000 Black Book value after paying $2,100 for a 2008 Dodge Ram, and one taxed on $47,240 after paying $35,000 for a 2015 Ford F-350. The legal way to lower the tax basis is to document the actual market value of your specific vehicle with a certified FIN-320 appraisal.

How the rule actually applies

BC PST treatment depends on the type of sale and the value tier. Every rate below is from Bulletin PST 308, Table 1, linked in the sources at the foot of this page.

Private sale, under $125,000

12% PST on the greater of price paid or Black Book value. This covers almost every everyday used vehicle, and the rate does not change anywhere in this range. The $55,000 step that people often hear about applies to a purchase from a GST registrant, not to a private sale.

Private sale, $125,000 to $149,999.99

15% PST on a passenger vehicle. This is the first band where a private sale rises above 12%.

Private sale, $150,000 and over

20% PST on a passenger vehicle. Non passenger vehicles stay at 12% at every price, so a commercial truck does not reach this band.

Dealer sale

5% GST plus PST starting at 7%, rising through 8%, 9% and 10% as the price passes $55,000, $56,000 and $57,000, then 15% and 20% at the top bands. Non passenger vehicles stay at 7%. The Black Book wholesale rule does not apply the same way; the dealer invoice usually drives the tax basis.

How to lower the tax basis legally

There is one legal lever: document the actual market value of your specific vehicle.

Get an appraisal before registration

A certified FIN-320 appraisal documents the actual value of the specific vehicle, including condition, mileage, and trim. If both the appraised value on the FIN 320 and the price you paid are lower than the average wholesale value, Bulletin PST 308 says PST is calculated on the greater of the appraised value and the price you paid.

Or file FIN-355MV after registration

If you already paid PST on Black Book and feel you overpaid, you have 30 days from registration to file a refund application with a supporting FIN-320. After 30 days the window closes.

Keep proof of payment

Cheques, matching bank statements, named e-transfers, and credit card receipts all support the actual purchase price. The Consumer Tax Branch is strict about this on refund applications.

The two workflows

Before registration: order a FIN-320 appraisal first if your vehicle has high mileage, damage, or is in below average condition. PST is then charged on the greater of the appraised value and the price you paid, instead of on the average wholesale value.

At registration: present the FIN-320, APV9T, bill of sale, and proof of payment to the Autoplan broker. PST is charged on the appraised value, not the Black Book value.

After registration (only if needed): if you already paid PST on Black Book and want a refund, file FIN-355MV with the supporting FIN-320 within 30 days.

Used Car Tax in BC FAQ

How much PST do I pay on a used car in BC?

For a private sale of a passenger vehicle, Bulletin PST 308 Table 1 sets the rate at 12% up to $124,999.99, 15% from $125,000 to $149,999.99, and 20% at $150,000 and over. Non passenger vehicles are 12% at every price. For a purchase from a GST registrant, PST starts at 7% and rises through 8%, 9% and 10% above $55,000, with 5% GST on top. The taxable amount is the greater of the price you paid or the Canadian Black Book wholesale value.

Can I avoid the Black Book valuation rule?

Not by avoiding the rule itself, but by documenting that your specific vehicle is worth less than the Black Book number. A certified FIN-320 appraisal supports the lower value at registration.

What happens if my purchase price is higher than Black Book?

You pay PST on the higher number, the price you paid. The rule cuts both ways. The rule mainly matters when the vehicle is worth less than Black Book.

Are family transfers taxed?

Some family transfers are tax-exempt entirely. The exemption depends on the relationship and the structure of the transfer. Other family transfers are taxed normally.

What if I am buying from out of province?

Out-of-province imports follow a separate workflow that includes a provincial inspection. Tax is charged on the greater of price paid or Canadian Black Book value at registration in BC.

I paid the higher tax. Can I get any of it back?

If you paid PST on the Black Book value and your vehicle was actually worth less, you have 30 days from registration to file a FIN-355MV refund application. The supporting FIN-320 documents the lower market value.

How much does a FIN-320 appraisal cost?

IC Appraisal BC charges $75 flat plus tax. Most refund applications recover many multiples of the appraisal fee.

Helpful next steps

Use these supporting pages to keep moving.

Get your Canadian Black Book value, free

Estimate your BC used car PST

Work truck appraisal BC

Order an appraisal before you register

Private sale tax background

Why Black Book overstates the value

30-day refund hub if you already paid

Family transfer tax rules

Out-of-province vehicle appraisal guide

Imported vehicles and JDM registrations

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
Rates come from one place: Bulletin PST 308 Table 1 sets the rates. A separate Table 2 applies to zero emission vehicles acquired after 22 February 2022.

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.
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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