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BC driver discovers surprising detail when paying PST on used vehicle in private sale

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When Justin Long purchased his 2018 Toyota Tacoma through a private sale he says he was shocked when he went to register his truck and pay the Provincial Sales Tax (PST).

The B.C. resident had purchased his truck for $33,000 which had approximately 183,000 kilometres on the odometer.

However, Long says he was told by his insurance broker the vehicle was valued at $36,433. “It didn’t make any sense to me,” Long told Consumer Matters.

In B.C., purchasers of a vehicle in a private sale must pay 12 per cent PST at the time of registration. The PST is calculated on either the purchase price or the Canadian Black Book average wholesale value – whichever is greater.

In Long’s case, he had to pay PST on $36,433, which equated to $4,371.96 in PST.

For more info, please go to https://globalnews.ca/news/9724277/bc-pst-used-vehicle-private-sale/

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Category
U.S. & Canada
Tags
global news, Consumer, BC PST
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