Estimated Value of Used Road Vehicles – Individuals
The method used to determine the estimated value of a used road vehicle will depend on whether the vehicle is classified as a motor vehicle, a light truck, a collector road vehicle, a motorcycle, a snowmobile or an all-terrain vehicle (ATV).
Estimated value of a used motor vehicle or light truck
The estimated value of a used motor vehicle or light truck is calculated by subtracting $500 from the vehicle's average wholesale price (AWP) as listed in the Guide d'évaluation Hebdo (automobiles et camions légers), published by Trader Corporation. (The latest version is available on the first day of the calendar month during which the transaction took place.)
If a motor vehicle or light truck is no longer listed in the above-mentioned guide, the QST is usually calculated on the agreed sale price, rather than on the vehicle's estimated value.
Used luxury vehicle
An appraisal is required to determine the estimated value of a used luxury vehicle under the following conditions:
- the vehicle is an Aston Martin, a Bentley, a Ferrari, a Hummer, a Lamborghini, a Lotus, a Maserati or a Rolls-Royce;
- the model year is no longer listed in the Guide d'évaluation Hebdo (automobiles et camions légers); and
- the vehicle is less than 25 years old.
The appraisal must be carried out by an appraiser who holds a certificate of professional qualification as an automobile damage appraiser issued by the Groupement des assureurs automobiles. The appraiser must have carried out the appraisal in the normal exercise of their profession at a certified appraisal centre or at an establishment certified by the Groupement des assureurs automobiles. The name of the purchaser must appear on the appraisal report.
Estimated value of a collector road vehicle
A collector road vehicle generally consists of a truck 40 or more years old and any other road vehicle 25 or more years old, including a motorhome.
The estimated value of a collector road vehicle is either:
- the value stated on endorsement 19 of the owner's insurance policy and written in the purchaser's name; or
- the value as determined by an appraisal of its value.
The appraisal of the vehicle's value must be written on behalf of the purchaser and be performed by:
- a person who holds a dealer's permit issued by the Office de la protection du consommateur and who acquires road vehicles for the purpose of trading;
- an appraiser who holds a certificate of professional qualification as an automibile damange appraiser issued by the Groupement des assureurs automobiles; or
- an antique vehicle owners' association.
Estimated value of a used motorcycle
The estimated value of a used motorcycle is calculated by subtracting $500 from the value listed in the Canadian Motorcycle Dealers Blue Book (section 2, “Current wholesale,” under “AVER”), published by All Seasons Publications Ltd. (The latest version is available on the first day of the calendar month during which the transaction took place.)
If a motorcycle is no longer listed in the above-mentioned guide, the QST is usually calculated on the agreed sale price, rather than on the vehicle's estimated value.
Estimated value of a used snowmobile or ATV
The estimated value of a used snowmobile or ATV is calculated by subtracting $500 from the value listed in the Canadian ATV, Snowmobile & Watercraft Dealers Blue Book (section 2, “Current wholesale,” under “AVER”), published by All Seasons Publications Ltd. (The latest version is available on the first day of the calendar month during which the transaction took place.)
If a snowmobile or ATV is no longer listed in the above-mentioned guide, the QST is usually calculated on the agreed sale price, rather than on the vehicle's estimated value.