UVIP wholesale = $0
Got the UVIP and for both wholesale and retail shows $0. Did I just luck out? I can set any purchase price? Are the DMV allowed to look up the value on autotrader?
Apr 25th, 2015 8:03 am
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Apr 25th, 2015 1:04 pm
This may be the case for old collectibles but if it's just an old beater, or in the case of my Tacoma, the buyer paid tax on the amount stated on the last page of the uvip (which serves as the purchase agreement). We didn't have to get any kind of appraiser to decide on the value.RaySkunk wrote: ↑You'll need to get an appraisal done.
I've got a thing for old cars and been here three times before. Always gotten the seller to pay for it. It's basically a one-pager that costs around $50 depending where you go.
If you ask nicely the appraiser will usually lowball it.
The MTO will use the higher of your purchase price (nudge nudge) or the appraisal value for HST purposes. Last time I did this the MTO didn't ask to see the appraisal, but you should have it just in case.
Apr 25th, 2015 1:16 pm
Apr 25th, 2015 1:28 pm
Bingo. These vultures don't deserve even a penny on a private sale transaction on a used item.CraigLee wrote: ↑When I recently purchase a 2010 the wholesale value wasn't listed on the UVIP so I came up with a number that seemed reasonable because I wasn't sure what to expect. Say the vehicle was worth 20k I put that I paid 12k and paid tax on that amount. I was tempted to put lower but thought it would be too obvious.
Sep 30th, 2016 9:36 pm
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Oct 3rd, 2016 11:04 am
So did you pay tax on the $3,000 amount or the $0? I got away with paying $0 once. It took some convincing before they finally believed that I got the vehicle in exchange for a few favours. Enjoy your new Jetta btw!
Oct 9th, 2016 12:40 pm
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